Is the income tax proposal for real this year? Every year, state Sen. Rosa Franklin, D-Tacoma, introduces a bill calling for a state income tax. Hers often is the only name listed as a sponsor. Such is the case this year. She dropped the bill Jan. 13.

The real interesting thing is that a fiscal note was completed on Feb. 11 and it is really elaborate! I mean, state agency and legislative committee staff put one heckuva lot of work into something that in years past has been a non-starter of a bill.

Has something changed? Is this what Democratic majorities in the House and Senate really have been waiting for? (Next week, we also get word from Congress on how much money Washington will get in bailout money, and how bad the financial situation is. Is it a $7.5 billion shortfall?)

Here is a link to the full text of Senate Bill 5104. But just even more interesting are the numbers in the fiscal note.

Here's a quick summary: An income tax ranging from 2.2 percent to 6 percent would be put in place. The state portion of property tax would be eliminated entirely. The state's 6.5 percent sales tax would be reduced to 3.5 percent.

In state fiscal year 2012, the state would collect $6.67 billion in income taxes, but would forego $3.9 billion in sales taxes and $1.9 billion less from a zero property tax.

The state would have a net gain of $854 million for that year. The bill says the income tax measure would be put on the November 2009 ballot.

Tim Eyman is the one who pointed this bill out to me. Give credit where it's due. I saw it the first week of session but dismissed out of hand as Frankin's usual non-starter. Perhaps I should not have. He pointed out, rightly so, that his I-960 is much of the reason for the more intense scrutiny. I-960 requires the governor's budget office to lay out the 10-year financial impact of any bill that raises fees or taxes.

It's bound to be part of the discussion with Democrats having such hefty majorities. Although they are still shy of two-thirds votes needed to put a constitutional amendment on the ballot without some Republican help.