Initiative 2109 is an initiative to the 2024 Washington State Legislature that would repeal Washington State’s capital gains tax on extremely wealthy households. The House and Senate did not act on it and consequently, it will be before voters in the November 2024 general election.
Basic facts
| Ballot Title: | Initiative Measure No. 2109 concerns taxes. This measure would repeal an excise tax imposed on the sale or exchange of certain long-term capital assets by individuals who have annual capital gains of over $250,000. Should this measure be enacted into law? Yes [ ] No [ ] |
| Ballot Summary: | This measure would repeal an excise tax imposed on the sale or exchange of certain long-term capital assets by individuals who have annual capital gains of over $250,000. |
| Filed on: | May 17th, 2023 at 2:08 PM |
| Certified: | January 11th, 2024 (by random sample check) |
| Petition Information: | The Secretary of State’s office reported receiving 25,687 petition sheets for I-2113 bearing 434,594 signature lines. 13,038 of those signatures were selected for a three percent random sample check. 10,579 were accepted and 2,459 were deemed to be duplicate or invalid. |
| Sponsor: | Republican State Party Chair Jim Walsh |
| Principal Funder: | Multimillionaire hedge fund manager Brian Heywood |
| Complete Text: | Available (PDF) |