SHB 2089 — Supporting wildfire mitigation by modifying RCW 82.04.29005, concerning taxes on loan interest.

What this bill does

Removes the threshold that the financial institution be located in 10 or more states in order pay business and occupation tax (B&O) on interest income received on investments or loans secured by first mortgages or trust deeds on non-transient residential properties. Directs the revenue generated by the removal of the B&O tax deduction into the Wildfire Response, Forest Restoration, and Community Resilience Account.

From the Washington State Legislature's nonpartisan staff bill analysis. Read the full analysis ↗

Floor votes

• House — 3rd Reading & Final Passage · February 13, 2026
  52 yea · 40 nay · 6 not voting
• Senate — 3rd Reading & Final Passage · March 11, 2026
  27 yea · 21 nay · 1 not voting

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Other bills sponsored by Scott

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• SHB 1313 — Addressing mass layoffs, relocations, and terminations.
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• SHB 1817 — Supporting survivors of sexual assault in public elementary and secondary schools.
• HB 1858 — Eliminating the exemption for assignments or substitutions of previously recorded deeds of trust from the document recording fee and the covenant homeownership program assessment.