WA HB2082

Adds a 2.90% additional excise tax on long-term capital gains exceeding $1,000,000 annually, beginning January 1, 2025, on top of the existing 7% capital gains tax

Increases the estate tax exclusion amount from approximately $2,193,000 to $3,000,000 for decedents dying on or after January 1, 2025, with annual inflation adjustments thereafter

Raises estate tax rates to a more progressive structure with top rates increasing from 20% to 35% on estates exceeding $9,000,000

Directs all additional revenue to the education legacy trust account to fund K-12 public education, early learning, child care, and higher education

References the 2024 voter approval where 64.11% of Washington voters in 32 of 39 counties voted to retain the capital gains tax for education funding