Washington legislation · 2025-26 Regular Session
Washington HB2089: Taxes on loan interest
Status: Signed into law, March 23, 2026
Supporting wildfire mitigation by modifying RCW 82.04.29005, concerning taxes on loan interest.
What the bill says
An act Relating to supporting wildfire mitigation by modifying RCW 82.04.29005, concerning taxes on loan interest; amending RCW 82.04.29005; adding a new section to chapter 82.32 RCW; creating new sections; and providing an effective date. NEW SECTION.
From the enrolled text:
AN ACT Relating to supporting wildfire mitigation by modifying RCW 82.04.29005, concerning taxes on loan interest; amending RCW 82.04.29005; adding a new section to chapter 82.32 RCW; creating new sections; and providing an effective date. NEW SECTION. Sec. 1. INTENT.(1) It is the intent of this act to restore funding to Washington state's wildfire response, forest restoration, and community resilience account ("wildfire response account"). (2) The legislature finds that: (a) When the wildfire response account was created by chapter 298, Laws of 2021 (Second Substitute House Bill No. 1168, RCW 76.04.505), the legislature committed a biennial investment of $125 million to this account to fund wildfire preparedness. The account was created without a dedicated revenue source. Funding for the wildfire response account was reduced by 50 percent at the start of the 2025-2027 fiscal biennium. In a public statement of July 25, 2025, at the site of the Burdoin fire near the Columbia River Gorge, Governor Ferguson said "this is a reminder of the need for those resources." (b) In RCW 76.04.505, the legislature found that "[fire] suppression costs are only a small portion of the impact [of wildfires] to the state budget." The legislature finds that funding wildfire preparedness activities under RCW 76.04.511(3) saves the state substantially in post facto costs stemming from infrastructure wreckage, reduced real estate valuation, …
Sponsors
- Shaun Scott (D) · primary sponsor
- Lawrence Springer (D)
- Lisa Parshley (D)
- Cindy Ryu (D)
- Tarra Simmons (D)
- Liz Berry (D)
- Chipalo Street (D)
- Brianna Thomas (D)
- Timm Ormsby (D)
- Edwin Obras (D)
- Kristine Reeves (D)
- Nicole Macri (D)
Latest actions
- : Effective date 7/1/2026.
- : Chapter 131, 2026 Laws.
- : Governor signed.
- : Delivered to Governor.
- : President signed.
- : Speaker signed.
- : Third reading, passed; yeas, 27; nays, 21; absent, 1; excused, 0.
- : Rules suspended. Placed on Third Reading.
- : Placed on second reading by Rules Committee.
- : Passed to Rules Committee for second reading.
Votes
- 3rd Reading & Final Passage (March 11, 2026): 27 yea, 21 nay, passed
- Senate Committee on Ways & Means: Do pass (March 2, 2026): 15 yea, 9 nay, passed
- 3rd Reading & Final Passage (February 13, 2026): 52 yea, 40 nay, passed
- House Committee on Finance: The substitute bill be substituted therefor and the substitute bill do pass (February 9, 2026): 9 yea, 5 nay, passed
Subjects: NAMED ACTS, TAXES - EXCISE, FIRE PROTECTION
Common questions
- What is HB2089?
- HB2089 is a bill in the Washington Legislature (2025-26 Regular Session): Taxes on loan interest.
- What does HB2089 do?
- In its own words: An act Relating to supporting wildfire mitigation by modifying RCW 82.04.29005, concerning taxes on loan interest; amending RCW 82.04.29005; adding a new section to chapter 82.32 RCW; creating new sections; and providing an effective date. NEW SECTION.
- What is the status of HB2089?
- Signed into law as of March 23, 2026. Latest action: Effective date 7/1/2026. (March 23, 2026).
- Who sponsored HB2089?
- Shaun Scott (D), with 11 co-sponsors.
- Where is the official record for HB2089?
- On the Washington Legislature website: https://app.leg.wa.gov/billsummary?BillNumber=2089&Year=2025
Source: official Washington record. Tracked by Delilah, AI for legislation across all 50 states and Congress.