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Washington · 2025-2026 Biennium (69th Legislature)

Enacting a tax on stocks, bonds, and other financial intangible assets for the benefit of public schools.

AN ACT Relating to enacting a wealth tax on stocks, bonds, and other financial intangible assets for the benefit of public schools;

ESB 5797·Senate·Bill
Sen. Noel FrameState Senate · LD-36·14 cosponsors
Fiscal noteState YesLocal Yes
Primary sponsor
Noel FrameNoel FrameState Senate · LD-36
Cosponsors
Manka DhingraManka DhingraState Senate · LD-45Emily AlvaradoEmily AlvaradoState House · LD-34Jessica BatemanJessica BatemanState Senate · LD-22Bob HasegawaBob HasegawaState Senate · LD-11Liz LovelettLiz LovelettState Senate · LD-40T'wina NoblesT'wina NoblesState Senate · LD-28Jamie PedersenJamie PedersenState Senate · LD-43Bill RamosBill RamosState Senate · LD-05Marcus RiccelliMarcus RiccelliState Senate · LD-03Derek StanfordDerek StanfordState Senate · LD-01Yasmin TrudeauYasmin TrudeauState Senate · LD-27Javier ValdezJavier ValdezState Senate · LD-46Lisa WellmanLisa WellmanState Senate · LD-41Claire WilsonClaire WilsonState Senate · LD-30
Floor votes
Senate · 3rd Reading & Final Passage · ESB 5797Apr 27, 202526–21
Legislative history
Mar 21, 2025
First reading, referred to Ways & Means.
Apr 18, 2025
WM - Majority; 1st substitute bill be substituted, do pass.
Apr 18, 2025
Minority; do not pass.
Apr 18, 2025
Minority; without recommendation.
Apr 19, 2025
Passed to Rules Committee for second reading.
Apr 19, 2025
Placed on second reading by Rules Committee.
Apr 27, 2025
1st substitute bill not substituted.
Apr 27, 2025
Floor amendment(s) adopted.
Apr 27, 2025
Rules suspended. Placed on Third Reading.
Apr 27, 2025
Third reading, passed; yeas, 26; nays, 21; absent, 0; excused, 1.
Apr 27, 2025
First reading, referred to Finance.
Apr 27, 2025
By resolution, returned to Senate Rules Committee for third reading.
Jan 12, 2026
By resolution, reintroduced and retained in present status.
Jan 12, 2026
Rules Committee relieved of further consideration. On motion, referred to Ways & Means.
Bill text
Original BillSubstitute BillEngrossed Bill
Amendments
Floor amendment by Frame (Adopted)Floor amendment by Warnick (Out of order)
Bill reports
Senate Bill Report (Orig.) — Initial Bill Report 03-31-25Senate Bill Report — Testimony Added 03-31-25Senate Bill Report — Reported by WM 04-18-25Engrossed Senate Bill Report — Passed Senate 04-27-25
Where it stands
In committee — the Senate
On the floor — the Senate
In committee — the House
On the floor — the House
Resolving differences
With the Governor
Became law
Path for a Senate bill