Concise Analysis of HB 2089 (Wildfire Alleviation Support Act) –
The Core Change:
Effective July 1, 2026, the bill amends RCW 82.04.29005 by removing the "located in more than ten states" qualifier for banking institutions. This eliminates the B&O tax deduction for interest on residential first mortgages (previously available to lenders operating in 10 or fewer states), subjecting all such interest income to Washington's B&O tax at the service rate (~1.5–1.8%).
Citizens' Alliance for Property Rights (CAPR) organized in 2003 as a non-partisan political action committee where individual citizens and existing organizations can work together protecting property rights.
We support equitable and scientifically sound land use regulations that do not force private landowners to pay disproportionately for public benefits enjoyed by all.
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