Relating to funding youth health care access and affordability, housing affordability, and wages for child care providers through a more progressive estate tax rate structure. Amends current RCW so that a tax is imposed on every transfer of property located in Washington. Provides a table with the applicable tax. Notes that this law proposes a stand-alone estate tax that is independent of any federal estate tax obligation and is not affected by termination of the federal estate tax.
SB6581 also amends previous law regarding the Education Legacy Trust Account such that by November 15, 2020, and by each November 15th thereafter, the department must estimate any increase in revenues deposited in account for the current biennium and subsequent two biennia as a result of this law. The first five million dollars of annual revenue from the amount must be used to fund programs that provide temporary housing for the homeless; the next ten million dollars of annual revenue from the amount must be used to fund the child care career and wage ladder; and the remainder used to fund youth health care access and affordability.