A House and Senate conference committee has just released details of a $794.1 million agreed upon revenue package to support a balanced approach to closing a $2.8 billion budget shortfall.
You can find details below. The conference report will have to sit on the bar of both the House and Senate for a full day before it can be voted upon. The report can only be voted up or down without amendment.
| SOURCE | Revenue (in millions) | |
| 09-11 | ||
| Dot Foods | $ 155 | |
| Cigarettes/Other tobacco products | $ 101.4 | |
| Nexus | $ 84.7 | |
| Sales tax applied to bottled water (exemption for prescription water and unavailable potable water) | $ 32.6 | |
| Sales tax applied to candy and gum with B&O credit for jobs | $ 30.5 | |
| Lottery marketing | $ 15 | |
| Convention center | $ 10 | |
| Tax avoidance | $ 8.5 | |
| Property Mangagement. B&O | $ 6.9 | |
| Agrilink | $ 4.1 | |
| Homestreet fix | $ 3.6 | |
| Corporate Directors B&O | $ 2.1 | |
| Bad debt | $ 1.7 | |
| Livestock nutrients | $ 1.3 | |
| PUD clarification | $ 1.1 | |
| Tax debts corp. | $ 1.2 | |
| TEMPORARY | ||
| Services B&O to 1.8% with exemption for hospitals and narrow exemption for R&D and small business credit doubled (credit permanent) | $ 241.9 | |
| Beer tax increase of 50 cents per gallon, microbreweries exempt - 28 cent increase per six pack | $ 59 | |
| Pop tax increase with exemption for small bottlers ($10 million) - 2 cents per 12 oz. bottle | $ 33.5 | |
| TOTAL | $ 794.1 |
1:41 UPDATE: Staffers are now briefing members of the conference committee on the details of the agreement. Among those present are Senate Ways and Means Chairwoman Margarita Prentice, D-Renton, Senate Democratic Caucus Chairman Ed Murray of Seattle and House Finance Committee Chairman Ross Hunter, D-Medina. Also present is Sen. Joe Zarelli, a Ridgefield Republican and ranking minority member of the Senate Ways & Means Committee. Rep. Bob Hasegawa, D-Seattle, also is here.
Seats in the back of the room are filled by lobbyists and other interested onlookers. Some began milling about outside the Senate Rules Room a half hour before this meeting convened.
1:51 UPDATE: Prentice just summed up why this meeting is even being held.
"We do have to protect public services," Prentice just said. "When people are out of jobs that mean the state has to do more. We can't let education slide. That would be like losing our investment."
"We believe this reflects our values," Prentice said.
"This is the best deal we could cut at this point," Hunter said.
"The one thing people can't say is Democrats rushed to raise taxes," Murray joked. He again reiterated that there were no easy choices here in closing a massive shortfall.
"We cut," Murray. "But at some point you cut so much you start to shut down basic government services."
"The revenue piece of this is the smallest part" of the Legislature's balanced budget solution, Murray said.
"I think we've been responsible but it's been difficult," Murray said.
1:56 UPDATE: "We're confident but we're counting votes," Murray said when asked by a reporter if there are votes in the House and Senate to approve this compromise.
"I think we're very close," Hunter. "I think we're closer than we were yesterday."
"Every minute we get closer to the deadline we get closer to the votes," Murray said.
Hunter said the House will take up the package first.
1:58 UPDATE: "We're still working," Prentice said when asked about negotiations on the actual budget. She said it'll likely take the Legislature through Tuesday to finish its work.