Enacting an excise tax on large operating companies on the amount of payroll expenses above the minimum wage threshold of the additional medicare tax to fund services to benefit Washingtonians and establishing the Well Washington fund account.

This bill creates an excise tax on large companies in Washington state, based on their payroll expenses for employees earning above the federal additional Medicare tax threshold (currently $125,000). The tax aims to fund the "Well Washington fund account," which would support state services like higher education, healthcare (especially Medicaid), cash assistance, and energy and housing programs. The bill also establishes an oversight board for this fund and outlines procedures for tax collection, penalties, and appeals.

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