Washington legislation · 2025-26 Regular Session
Washington HB2487: Insurer taxes
Status: Signed into law, April 1, 2026
Concerning taxes imposed on insurers operating within the state.
What the bill says
An act Relating to taxes imposed on insurers operating within the state; amending RCW 82.04.320; reenacting and amending RCW 82.04.299; adding a new section to chapter 82.04 RCW; creating new sections; repealing RCW 82.04.322; and providing an expiration date. NEW SECTION.
From the enrolled text:
AN ACT Relating to taxes imposed on insurers operating within the state; amending RCW 82.04.320; reenacting and amending RCW 82.04.299; adding a new section to chapter 82.04 RCW; creating new sections; repealing RCW 82.04.322; and providing an expiration date. NEW SECTION. Sec. 1. (1) The legislature finds that unintended tax loopholes adversely impact the state budget and reduce amounts available to fund schools and other essential services. (2) The legislature further finds that in 1935 the legislature enacted as RCW 82.04.320 a business and occupation tax exemption that applied to "any person in respect to insurance business upon which a tax based on gross premiums is paid to the state." The Washington supreme court, in Armstrong v. State, 61 Wn.2d 116 (1962), unanimously held that the purpose of the exemption was to prevent insurance businesses from paying two state taxes on the same income, not to create a means for noninsurers to avoid paying any state tax. The legislature affirms the sole purpose of this exemption is to prevent double taxation. (3) The legislature further finds that the business and occupation tax is a tax on the gross receipts of most businesses in the state, subject to specific deductions and exemptions. The tax generally applies at each point of sale in the process of providing a good or service and …
Sponsors
- Nicole Macri (D) · primary sponsor
Latest actions
- : Effective date 6/11/2026.
- : Chapter 263, 2026 Laws.
- : Governor signed.
- : Delivered to Governor.
- : President signed.
- : Speaker signed.
- : Third reading, passed; yeas, 27; nays, 22; absent, 0; 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, 22 nay, passed
- Senate Committee on Ways & Means: Do pass (March 10, 2026): 15 yea, 9 nay, passed
- 3rd Reading & Final Passage (March 6, 2026): 51 yea, 44 nay, passed
- House Committee on Finance: Do pass (February 9, 2026): 8 yea, 5 nay, passed
Subjects: TAX PREFERENCES - EXEMPTIONS, CREDITS, DEDUCTIONS, DEFERRALS, ETC.
Common questions
- What is HB2487?
- HB2487 is a bill in the Washington Legislature (2025-26 Regular Session): Insurer taxes.
- What does HB2487 do?
- In its own words: An act Relating to taxes imposed on insurers operating within the state; amending RCW 82.04.320; reenacting and amending RCW 82.04.299; adding a new section to chapter 82.04 RCW; creating new sections; repealing RCW 82.04.322; and providing an expiration date. NEW SECTION.
- What is the status of HB2487?
- Signed into law as of April 1, 2026. Latest action: Effective date 6/11/2026. (April 1, 2026).
- Who sponsored HB2487?
- Nicole Macri (D).
- Where is the official record for HB2487?
- On the Washington Legislature website: https://app.leg.wa.gov/billsummary?BillNumber=2487&Year=2025
Source: official Washington record. Tracked by Delilah, AI for legislation across all 50 states and Congress.