Freshman state Rep. Laurie Jinkins (D- 27, Tacoma) is proposing a bill that would repeal the out-state-sales tax exemption for out-of-shop shoppers and repeal the now-infamous deduction on banks for first-time mortgage loans, voiding the exemption on all bank profits made over $100 million.

The revenue would go to pay for K-3 class size reduction funding that was killed in the current budget.

Combined, getting rid of the two exemptions would raise $166.8 million, Jinkins office says.

Here's the language:

(1) The legislature finds that Washington's best opportunity for long-term success rests with the further development of our public educational system. The legislature further finds that smaller classes in the early grades can significantly increase the amount of learning that takes place in the classroom.

(2) It is the intent of the legislature to fully fund critical K-3 class size reductions by significantly narrowing a tax deduction for banks and other financial institutions, and repealing a sales tax exemption for nonresidents.

The proposal is charged politically: Republicans have criticized the Democrats for not funding education as much as they'd like; Jinkins bill challenges the GOP to vote for more education funding by going against big banks. The bill has 48 co-sponsors, all Democrats, including a cross section of liberals—Reps. Bob Hasegawa, Joe Fitzgibbon, and Tami Green and moderates, such as Reps. Deb Eddy, Larry Springer, and Judy Clibborn.

The Democrats have a 55-42 advantage in the house.