- Associated Press - Wednesday, July 29, 2015

OLYMPIA, Wash. (AP) - Initiative promoter Tim Eyman’s latest attempt to limit the Legislature’s ability to raise taxes has qualified for the November ballot.

The secretary of state’s office said Wednesday that a signature check showed that supporters of Initiative 1366, who turned in more than 339,000 signatures, had enough valid signatures. The measure would decrease the 6.5-cent state sales tax by a penny unless the Legislature puts a constitutional amendment before voters that would reinstate a two-thirds legislative majority to raise taxes.

Previous voter-approved initiatives required that supermajority vote, but the state Supreme Court struck that requirement down in 2013, saying it was unconstitutional.

Also Wednesday, the state Office of Financial Management released a fiscal-impact statement on I-1366, estimating that the measure would reduce revenue to the state budget by $8 billion through the middle of 2021, if its tax-cut element becomes law.

The state Office of Financial Management (OFM) on Wednesday released a legally required fiscal-impact statement estimating I-1366 would reduce tax revenue for the general-fund budget by $8 billion between the 2016 and 2021 fiscal years, if its tax-cut element becomes law.

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