Abortion savings program

AN ACT Relating to establishing an abortion savings program; 1
reenacting and amending RCW 43.84.092, 43.84.092, 43.84.092, 2
43.84.092, 43.84.092, and 43.84.092; adding a new section to chapter 3
48.14 RCW; adding new sections to chapter 43.70 RCW; providing 4
effective dates; providing a contingent effective date; providing 5
expiration dates; and providing contingent expiration dates.6
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:7
NEW SECTION. Sec. 1. A new section is added to chapter 48.14 8
RCW to read as follows: 9
(1) In addition to any other taxes or other charges imposed under 10
this chapter, each health carrier subject to tax under RCW 48.14.020 11
or 48.14.0201 shall, on or before the first day of March of each year 12
pay to the state treasurer through the commissioner's office an 13
annual coverage assessment. The assessment for the first year equals 14
$0.82 per coverage month in the prior calendar year, and the 15
assessment, annually thereafter, equals $0.165 per coverage month in 16
the prior calendar year. The initial assessment imposed under this 17
subsection is due and payable on or before March 1, 2027.18
(2) Each health carrier subject to the assessment under this 19
section shall file with the commissioner, on or before the first day 20
of March of each year, an annual coverage month assessment statement 21
H-3110.1
HOUSE BILL 2657
State of Washington 69th Legislature 2026 Regular Session
By Representatives Parshley, Salahuddin, Macri, Fosse, Pollet, and
Obras
Read first time 01/26/26. Referred to Committee on Appropriations.
p. 1 HB 2657
indicating the number of coverage months associated with premiums or 1
prepayments for health care services subject to tax under RCW 2
48.14.020 or 48.14.0201, in a form and manner required by the 3
commissioner. The statement under this subsection is in addition to 4
the statement required under RCW 48.14.030. 5
(3) Any health carrier, failing to file its annual coverage month 6
assessment statement under subsection (2) of this section and pay the 7
assessment by the last day of the month in which the assessment 8
becomes due shall be assessed a penalty of five percent of the amount 9
of the assessment. If the assessment is not paid within 45 days after 10
the due date, the health carrier will be assessed a total penalty of 11
10 percent of the amount of the assessment. If the assessment is not 12
paid within 60 days of the due date, the health carrier will be 13
assessed a total penalty of 20 percent of the amount of the 14
assessment. The assessment may be collected by distraint, and the 15
penalty may be recovered by any action instituted by the commissioner 16
in any court of competent jurisdiction. The amount of any penalty 17
collected must be paid to the state treasurer and credited to the 18
abortion savings account created under section 3 of this act.19
(4) In addition to the penalties set forth in subsection (3) of 20
this section, interest shall accrue on the amount of the unpaid 21
assessment at the maximum legal rate of interest permitted under RCW 22
19.52.020 commencing 61 days after the assessment is due until paid.23
(5) The commissioner may revoke the certificate of authority or 24
registration of any delinquent health carrier, and the certificate of 25
authority or registration may not be reissued until all assessments, 26
interest, and penalties imposed under this section have been fully 27
paid and the health carrier has otherwise qualified for the 28
certificate of authority or registration. 29
(6) In the event that any health carrier has paid to the 30
commissioner any assessment under this section in error or in excess 31
of that which it is lawfully obligated to pay, the commissioner shall 32
upon written request make a refund thereof. A health carrier may only 33
request a refund of assessments within six years of the end of the 34
calendar year for which the assessments are owed. Refunds may be made 35
either by crediting the amount toward payment of taxes, assessments, 36
or other charges due or to become due from such health carrier, or by 37
making a cash refund. 38
(7) All revenues collected under this section must be deposited 39
in the abortion savings account created under section 3 of this act.40
p. 2 HB 2657
(8) The assessment required under this section must be borne 1
solely by the health carrier and may not be passed through to 2
enrollees in premiums, rates, plan design, or otherwise.3
(9) A health carrier shall demonstrate their compliance with this 4
section through the rate filing review process of the commissioner, 5
as directed by the commissioner. The commissioner may also adopt 6
rules to implement this section. 7
(10) For the purpose of this section: 8
(a) "Coverage month" means each month of coverage under an 9
insurance policy or each month of prepayment for health care services 10
where premiums or prepayments are subject to tax under RCW 48.14.020 11
or 48.14.0201. 12
(b) "Health carrier" means any carrier offering health plans on 13
the health benefit exchange under chapter 43.71 RCW beginning in plan 14
year 2026. 15
NEW SECTION. Sec. 2. A new section is added to chapter 43.70 16
RCW to read as follows: 17
(1) The abortion savings program is established. The purpose of 18
the program is to provide grants to maintain access to direct patient 19
abortion clinical care services for individuals in the state.20
(2) Subject to the availability of amounts appropriated for this 21
specific purpose, the secretary shall provide operating grants to 22
eligible organizations to support equitable access to direct patient 23
abortion clinical care services across the state. Grant funds 24
provided under this program shall be used to support direct patient 25
abortion clinical care services for which federal funding is 26
prohibited for individuals without sufficient resources.27
(3) Except when required for the operation of the program, the 28
department shall award at least 85 percent of the funds appropriated 29
for the program as grants to eligible organizations.30
(4) The department may not: 31
(a) Release, publish, or otherwise disclose any identifying 32
information for: 33
(i) The staff of an eligible organization that applies for or 34
receives a grant or reimbursement from grant funding under the 35
program; or 36
(ii) An individual health care practitioner or staff who provides 37
direct patient abortion clinical care services for an eligible 38
p. 3 HB 2657
organization that receives a grant or reimbursement from grant 1
funding under the program; or 2
(b) Collect identifying information for individuals who request 3
or obtain support for direct patient abortion clinical care services 4
from an eligible organization awarded a grant under the program.5
(5) Identifying information under subsection (4) of this section 6
is not subject to public inspection and copying under chapter 42.56 7
RCW. 8
(6) The department shall develop standards for the grants to 9
ensure funds are being used as outlined in this section.10
(7) For the purposes of this section, the following definitions 11
apply: 12
(a) "Eligible organization" means an organization that employs 13
health care providers authorized to terminate a pregnancy.14
(b) "Identifying information" means any information that can be 15
used to distinguish or trace an individual's identity, including but 16
not limited to name, prior legal name, alias, mother's maiden name, 17
or date or place of birth, in combination with any other information 18
that is linked or linkable to an individual such as:19
(i) Social security number, home address, mailing address, phone 20
number, email address, social media accounts, or biometric data;21
(ii) Medical, financial, education, consumer, or employment 22
information, data, or records; 23
(iii) Any other sensitive private information that is linked or 24
linkable to a specific identifiable individual, such as gender 25
identity, sexual orientation, or any sexually intimate visual 26
depiction; or 27
(iv) Any information, including but not limited to usernames and 28
passwords, that enables access to a person's email accounts, social 29
media accounts, electronic forum accounts, chat or instant message 30
accounts, cloud storage accounts, banking or financial accounts, 31
computer networks, computers or phones, teleconferencing services, 32
video-teleconferencing services, or other digital meeting rooms.33
(c) "Individuals without sufficient resources" means individuals 34
who are: (i) Uninsured; (ii) underinsured, without sufficient 35
abortion coverage; or (iii) unable to use their insurance due to the 36
risks posed by communication from insurance carriers regarding 37
coverage. 38
p. 4 HB 2657
NEW SECTION. Sec. 3. A new section is added to chapter 43.70 1
RCW to read as follows: 2
The abortion savings account is created in the state treasury. 3
Funds must be deposited into the account in accordance with the 4
process outlined in section 1 of this act. Moneys in the account may 5
be spent only after appropriation. Expenditures from the account may 6
be used only to provide grants under the abortion savings program 7
created in section 2 of this act. 8
Sec. 4. RCW 43.84.092 and 2025 c 417 s 802, 2025 c 399 s 15, 9
2025 c 359 s 12, and 2025 c 299 s 21 are each reenacted and amended 10
to read as follows: 11
(1) All earnings of investments of surplus balances in the state 12
treasury shall be deposited to the treasury income account, which 13
account is hereby established in the state treasury.14
(2) The treasury income account shall be utilized to pay or 15
receive funds associated with federal programs as required by the 16
federal cash management improvement act of 1990. The treasury income 17
account is subject in all respects to chapter 43.88 RCW, but no 18
appropriation is required for refunds or allocations of interest 19
earnings required by the cash management improvement act. Refunds of 20
interest to the federal treasury required under the cash management 21
improvement act fall under RCW 43.88.180 and shall not require 22
appropriation. The office of financial management shall determine the 23
amounts due to or from the federal government pursuant to the cash 24
management improvement act. The office of financial management may 25
direct transfers of funds between accounts as deemed necessary to 26
implement the provisions of the cash management improvement act, and 27
this subsection. Refunds or allocations shall occur prior to the 28
distributions of earnings set forth in subsection (4) of this 29
section. 30
(3) Except for the provisions of RCW 43.84.160, the treasury 31
income account may be utilized for the payment of purchased banking 32
services on behalf of treasury funds including, but not limited to, 33
depository, safekeeping, and disbursement functions for the state 34
treasury and affected state agencies. The treasury income account is 35
subject in all respects to chapter 43.88 RCW, but no appropriation is 36
required for payments to financial institutions. Payments shall occur 37
prior to distribution of earnings set forth in subsection (4) of this 38
section. 39
p. 5 HB 2657
(4) Monthly, the state treasurer shall distribute the earnings 1
credited to the treasury income account. The state treasurer shall 2
credit the general fund with all the earnings credited to the 3
treasury income account except: 4
(a) The following accounts and funds shall receive their 5
proportionate share of earnings based upon each account's and fund's 6
average daily balance for the period: The abandoned recreational 7
vehicle disposal account, the aeronautics account, the Alaskan Way 8
viaduct replacement project account, the ambulance transport fund, 9
the budget stabilization account, the capital vessel replacement 10
account, the capitol building construction account, the Central 11
Washington University capital projects account, the charitable, 12
educational, penal and reformatory institutions account, the Chehalis 13
basin account, the Chehalis basin taxable account, the clean fuels 14
credit account, the clean fuels transportation investment account, 15
the cleanup settlement account, the Columbia river basin water supply 16
development account, the Columbia river basin taxable bond water 17
supply development account, the Columbia river basin water supply 18
revenue recovery account, the common school construction fund, the 19
community forest trust account, the connecting Washington account, 20
the county arterial preservation account, the county criminal justice 21
assistance account, the covenant homeownership account, the deferred 22
compensation administrative account, the deferred compensation 23
principal account, the department of licensing services account, the 24
department of retirement systems expense account, the developmental 25
disabilities community services account, the diesel idle reduction 26
account, the opioid abatement settlement account, the drinking water 27
assistance account, the administrative subaccount of the drinking 28
water assistance account, the driver education safety improvement 29
account, the early learning facilities development account, the early 30
learning facilities revolving account, the Eastern Washington 31
University capital projects account, the education legacy trust 32
account, the election account, the electric vehicle account, the 33
energy freedom account, the energy recovery act account, the 34
essential rail assistance account, The Evergreen State College 35
capital projects account, the fair start for kids account, the family 36
medicine workforce development account, the ferry bond retirement 37
fund, the fish, wildlife, and conservation account, the freight 38
mobility investment account, the freight mobility multimodal account, 39
the grade crossing protective fund, the higher education retirement 40
p. 6 HB 2657
plan supplemental benefit fund, the Washington student loan account, 1
the highway bond retirement fund, the highway infrastructure account, 2
the highway safety fund, the hospital safety net assessment fund, the 3
Interstate 5 bridge replacement project account, the Interstate 405 4
and state route number 167 express toll lanes account, the judges' 5
retirement account, the judicial retirement administrative account, 6
the judicial retirement principal account, the limited fish and 7
wildlife account, the local leasehold excise tax account, the local 8
real estate excise tax account, the local sales and use tax account, 9
the marine resources stewardship trust account, the medical aid 10
account, the money-purchase retirement savings administrative 11
account, the money-purchase retirement savings principal account, the 12
motor vehicle fund, the motorcycle safety education account, the move 13
ahead WA account, the move ahead WA flexible account, the multimodal 14
transportation account, the multiuse roadway safety account, the 15
municipal criminal justice assistance account, the oyster reserve 16
land account, the pension funding stabilization account, the 17
perpetual surveillance and maintenance account, the pilotage account, 18
the pollution liability insurance agency underground storage tank 19
revolving account, the medicaid access program account, the public 20
employees' retirement system plan 1 account, the public employees' 21
retirement system combined plan 2 and plan 3 account, the public 22
facilities construction loan revolving account, the abortion savings 23
account, the public health supplemental account, the public works 24
assistance account, the Puget Sound capital construction account, the 25
Puget Sound ferry operations account, the Puget Sound Gateway 26
facility account, the Puget Sound taxpayer accountability account, 27
the real estate appraiser commission account, the recreational 28
vehicle account, the regional mobility grant program account, the 29
reserve officers' relief and pension principal fund, the resource 30
management cost account, the rural arterial trust account, the rural 31
mobility grant program account, the rural Washington loan fund, the 32
second injury fund, the sexual assault prevention and response 33
account, the site closure account, the skilled nursing facility 34
safety net trust fund, the small city pavement and sidewalk account, 35
the special category C account, the special wildlife account, the 36
state hazard mitigation revolving loan account, the state investment 37
board expense account, the state investment board commingled trust 38
fund accounts, the state patrol highway account, the state 39
reclamation revolving account, the state route number 520 civil 40
p. 7 HB 2657
penalties account, the state route number 520 corridor account, the 1
statewide broadband account, the statewide tourism marketing account, 2
the supplemental pension account, the Tacoma Narrows toll bridge 3
account, the teachers' retirement system plan 1 account, the 4
teachers' retirement system combined plan 2 and plan 3 account, the 5
tobacco prevention and control account, the tobacco settlement 6
account, the toll facility bond retirement account, the 7
transportation 2003 account (nickel account), the transportation 8
equipment fund, the JUDY transportation future funding program 9
account, the transportation improvement account, the transportation 10
improvement board bond retirement account, the transportation 11
infrastructure account, the transportation partnership account, the 12
traumatic brain injury account, the tribal opioid prevention and 13
treatment account, the University of Washington bond retirement fund, 14
the University of Washington building account, the voluntary cleanup 15
account, the volunteer firefighters' relief and pension principal 16
fund, the volunteer firefighters' and reserve officers' 17
administrative fund, the vulnerable roadway user education account, 18
the Washington judicial retirement system account, the Washington law 19
enforcement officers' and firefighters' system plan 1 retirement 20
account, the Washington law enforcement officers' and firefighters' 21
system plan 2 retirement account, the Washington public safety 22
employees' plan 2 retirement account, the Washington school 23
employees' retirement system combined plan 2 and 3 account, the 24
Washington state patrol retirement account, the Washington State 25
University building account, the Washington State University bond 26
retirement fund, the water pollution control revolving administration 27
account, the water pollution control revolving fund, the Western 28
Washington University capital projects account, the Yakima integrated 29
plan implementation account, the Yakima integrated plan 30
implementation revenue recovery account, and the Yakima integrated 31
plan implementation taxable bond account. Earnings derived from 32
investing balances of the agricultural permanent fund, the normal 33
school permanent fund, the permanent common school fund, the 34
scientific permanent fund, and the state university permanent fund 35
shall be allocated to their respective beneficiary accounts.36
(b) Any state agency that has independent authority over accounts 37
or funds not statutorily required to be held in the state treasury 38
that deposits funds into a fund or account in the state treasury 39
pursuant to an agreement with the office of the state treasurer shall 40
p. 8 HB 2657
receive its proportionate share of earnings based upon each account's 1
or fund's average daily balance for the period. 2
(5) In conformance with Article II, section 37 of the state 3
Constitution, no treasury accounts or funds shall be allocated 4
earnings without the specific affirmative directive of this section.5
Sec. 5. RCW 43.84.092 and 2025 c 417 s 802, 2025 c 399 s 15, and 6
2025 c 299 s 21 are each reenacted and amended to read as follows:7
(1) All earnings of investments of surplus balances in the state 8
treasury shall be deposited to the treasury income account, which 9
account is hereby established in the state treasury.10
(2) The treasury income account shall be utilized to pay or 11
receive funds associated with federal programs as required by the 12
federal cash management improvement act of 1990. The treasury income 13
account is subject in all respects to chapter 43.88 RCW, but no 14
appropriation is required for refunds or allocations of interest 15
earnings required by the cash management improvement act. Refunds of 16
interest to the federal treasury required under the cash management 17
improvement act fall under RCW 43.88.180 and shall not require 18
appropriation. The office of financial management shall determine the 19
amounts due to or from the federal government pursuant to the cash 20
management improvement act. The office of financial management may 21
direct transfers of funds between accounts as deemed necessary to 22
implement the provisions of the cash management improvement act, and 23
this subsection. Refunds or allocations shall occur prior to the 24
distributions of earnings set forth in subsection (4) of this 25
section. 26
(3) Except for the provisions of RCW 43.84.160, the treasury 27
income account may be utilized for the payment of purchased banking 28
services on behalf of treasury funds including, but not limited to, 29
depository, safekeeping, and disbursement functions for the state 30
treasury and affected state agencies. The treasury income account is 31
subject in all respects to chapter 43.88 RCW, but no appropriation is 32
required for payments to financial institutions. Payments shall occur 33
prior to distribution of earnings set forth in subsection (4) of this 34
section. 35
(4) Monthly, the state treasurer shall distribute the earnings 36
credited to the treasury income account. The state treasurer shall 37
credit the general fund with all the earnings credited to the 38
treasury income account except: 39
p. 9 HB 2657
(a) The following accounts and funds shall receive their 1
proportionate share of earnings based upon each account's and fund's 2
average daily balance for the period: The abandoned recreational 3
vehicle disposal account, the aeronautics account, the Alaskan Way 4
viaduct replacement project account, the ambulance transport fund, 5
the budget stabilization account, the capital vessel replacement 6
account, the capitol building construction account, the Central 7
Washington University capital projects account, the charitable, 8
educational, penal and reformatory institutions account, the Chehalis 9
basin account, the Chehalis basin taxable account, the clean fuels 10
credit account, the clean fuels transportation investment account, 11
the cleanup settlement account, the Columbia river basin water supply 12
development account, the Columbia river basin taxable bond water 13
supply development account, the Columbia river basin water supply 14
revenue recovery account, the common school construction fund, the 15
community forest trust account, the connecting Washington account, 16
the county arterial preservation account, the county criminal justice 17
assistance account, the covenant homeownership account, the deferred 18
compensation administrative account, the deferred compensation 19
principal account, the department of licensing services account, the 20
department of retirement systems expense account, the developmental 21
disabilities community services account, the diesel idle reduction 22
account, the opioid abatement settlement account, the drinking water 23
assistance account, the administrative subaccount of the drinking 24
water assistance account, the driver education safety improvement 25
account, the early learning facilities development account, the early 26
learning facilities revolving account, the Eastern Washington 27
University capital projects account, the education legacy trust 28
account, the election account, the electric vehicle account, the 29
energy freedom account, the energy recovery act account, the 30
essential rail assistance account, The Evergreen State College 31
capital projects account, the fair start for kids account, the family 32
medicine workforce development account, the ferry bond retirement 33
fund, the fish, wildlife, and conservation account, the freight 34
mobility investment account, the freight mobility multimodal account, 35
the grade crossing protective fund, the higher education retirement 36
plan supplemental benefit fund, the Washington student loan account, 37
the highway bond retirement fund, the highway infrastructure account, 38
the highway safety fund, the hospital safety net assessment fund, the 39
Interstate 5 bridge replacement project account, the Interstate 405 40
p. 10 HB 2657
and state route number 167 express toll lanes account, the judges' 1
retirement account, the judicial retirement administrative account, 2
the judicial retirement principal account, the limited fish and 3
wildlife account, the local leasehold excise tax account, the local 4
real estate excise tax account, the local sales and use tax account, 5
the marine resources stewardship trust account, the medical aid 6
account, the money-purchase retirement savings administrative 7
account, the money-purchase retirement savings principal account, the 8
motor vehicle fund, the motorcycle safety education account, the move 9
ahead WA account, the move ahead WA flexible account, the multimodal 10
transportation account, the multiuse roadway safety account, the 11
municipal criminal justice assistance account, the oyster reserve 12
land account, the pension funding stabilization account, the 13
perpetual surveillance and maintenance account, the pilotage account, 14
the pollution liability insurance agency underground storage tank 15
revolving account, the public employees' retirement system plan 1 16
account, the public employees' retirement system combined plan 2 and 17
plan 3 account, the public facilities construction loan revolving 18
account, the abortion savings account, the public health supplemental 19
account, the public works assistance account, the Puget Sound capital 20
construction account, the Puget Sound ferry operations account, the 21
Puget Sound Gateway facility account, the Puget Sound taxpayer 22
accountability account, the real estate appraiser commission account, 23
the recreational vehicle account, the regional mobility grant program 24
account, the reserve officers' relief and pension principal fund, the 25
resource management cost account, the rural arterial trust account, 26
the rural mobility grant program account, the rural Washington loan 27
fund, the second injury fund, the sexual assault prevention and 28
response account, the site closure account, the skilled nursing 29
facility safety net trust fund, the small city pavement and sidewalk 30
account, the special category C account, the special wildlife 31
account, the state hazard mitigation revolving loan account, the 32
state investment board expense account, the state investment board 33
commingled trust fund accounts, the state patrol highway account, the 34
state reclamation revolving account, the state route number 520 civil 35
penalties account, the state route number 520 corridor account, the 36
statewide broadband account, the statewide tourism marketing account, 37
the supplemental pension account, the Tacoma Narrows toll bridge 38
account, the teachers' retirement system plan 1 account, the 39
teachers' retirement system combined plan 2 and plan 3 account, the 40
p. 11 HB 2657
tobacco prevention and control account, the tobacco settlement 1
account, the toll facility bond retirement account, the 2
transportation 2003 account (nickel account), the transportation 3
equipment fund, the JUDY transportation future funding program 4
account, the transportation improvement account, the transportation 5
improvement board bond retirement account, the transportation 6
infrastructure account, the transportation partnership account, the 7
traumatic brain injury account, the tribal opioid prevention and 8
treatment account, the University of Washington bond retirement fund, 9
the University of Washington building account, the voluntary cleanup 10
account, the volunteer firefighters' relief and pension principal 11
fund, the volunteer firefighters' and reserve officers' 12
administrative fund, the vulnerable roadway user education account, 13
the Washington judicial retirement system account, the Washington law 14
enforcement officers' and firefighters' system plan 1 retirement 15
account, the Washington law enforcement officers' and firefighters' 16
system plan 2 retirement account, the Washington public safety 17
employees' plan 2 retirement account, the Washington school 18
employees' retirement system combined plan 2 and 3 account, the 19
Washington state patrol retirement account, the Washington State 20
University building account, the Washington State University bond 21
retirement fund, the water pollution control revolving administration 22
account, the water pollution control revolving fund, the Western 23
Washington University capital projects account, the Yakima integrated 24
plan implementation account, the Yakima integrated plan 25
implementation revenue recovery account, and the Yakima integrated 26
plan implementation taxable bond account. Earnings derived from 27
investing balances of the agricultural permanent fund, the normal 28
school permanent fund, the permanent common school fund, the 29
scientific permanent fund, and the state university permanent fund 30
shall be allocated to their respective beneficiary accounts.31
(b) Any state agency that has independent authority over accounts 32
or funds not statutorily required to be held in the state treasury 33
that deposits funds into a fund or account in the state treasury 34
pursuant to an agreement with the office of the state treasurer shall 35
receive its proportionate share of earnings based upon each account's 36
or fund's average daily balance for the period. 37
(5) In conformance with Article II, section 37 of the state 38
Constitution, no treasury accounts or funds shall be allocated 39
earnings without the specific affirmative directive of this section.40
p. 12 HB 2657
Sec. 6. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 1
2025 c 359 s 13, and 2025 c 299 s 22 are each reenacted and amended 2
to read as follows: 3
(1) All earnings of investments of surplus balances in the state 4
treasury shall be deposited to the treasury income account, which 5
account is hereby established in the state treasury.6
(2) The treasury income account shall be utilized to pay or 7
receive funds associated with federal programs as required by the 8
federal cash management improvement act of 1990. The treasury income 9
account is subject in all respects to chapter 43.88 RCW, but no 10
appropriation is required for refunds or allocations of interest 11
earnings required by the cash management improvement act. Refunds of 12
interest to the federal treasury required under the cash management 13
improvement act fall under RCW 43.88.180 and shall not require 14
appropriation. The office of financial management shall determine the 15
amounts due to or from the federal government pursuant to the cash 16
management improvement act. The office of financial management may 17
direct transfers of funds between accounts as deemed necessary to 18
implement the provisions of the cash management improvement act, and 19
this subsection. Refunds or allocations shall occur prior to the 20
distributions of earnings set forth in subsection (4) of this 21
section. 22
(3) Except for the provisions of RCW 43.84.160, the treasury 23
income account may be utilized for the payment of purchased banking 24
services on behalf of treasury funds including, but not limited to, 25
depository, safekeeping, and disbursement functions for the state 26
treasury and affected state agencies. The treasury income account is 27
subject in all respects to chapter 43.88 RCW, but no appropriation is 28
required for payments to financial institutions. Payments shall occur 29
prior to distribution of earnings set forth in subsection (4) of this 30
section. 31
(4) Monthly, the state treasurer shall distribute the earnings 32
credited to the treasury income account. The state treasurer shall 33
credit the general fund with all the earnings credited to the 34
treasury income account except: 35
(a) The following accounts and funds shall receive their 36
proportionate share of earnings based upon each account's and fund's 37
average daily balance for the period: The abandoned recreational 38
vehicle disposal account, the aeronautics account, the Alaskan Way 39
viaduct replacement project account, the budget stabilization 40
p. 13 HB 2657
account, the capital vessel replacement account, the capitol building 1
construction account, the Central Washington University capital 2
projects account, the charitable, educational, penal and reformatory 3
institutions account, the Chehalis basin account, the Chehalis basin 4
taxable account, the clean fuels credit account, the clean fuels 5
transportation investment account, the cleanup settlement account, 6
the Columbia river basin water supply development account, the 7
Columbia river basin taxable bond water supply development account, 8
the Columbia river basin water supply revenue recovery account, the 9
common school construction fund, the community forest trust account, 10
the connecting Washington account, the county arterial preservation 11
account, the county criminal justice assistance account, the covenant 12
homeownership account, the deferred compensation administrative 13
account, the deferred compensation principal account, the department 14
of licensing services account, the department of retirement systems 15
expense account, the developmental disabilities community services 16
account, the diesel idle reduction account, the opioid abatement 17
settlement account, the drinking water assistance account, the 18
administrative subaccount of the drinking water assistance account, 19
the driver education safety improvement account, the early learning 20
facilities development account, the early learning facilities 21
revolving account, the Eastern Washington University capital projects 22
account, the education legacy trust account, the election account, 23
the electric vehicle account, the energy freedom account, the energy 24
recovery act account, the essential rail assistance account, The 25
Evergreen State College capital projects account, the fair start for 26
kids account, the family medicine workforce development account, the 27
ferry bond retirement fund, the fish, wildlife, and conservation 28
account, the freight mobility investment account, the freight 29
mobility multimodal account, the grade crossing protective fund, the 30
higher education retirement plan supplemental benefit fund, the 31
Washington student loan account, the highway bond retirement fund, 32
the highway infrastructure account, the highway safety fund, the 33
hospital safety net assessment fund, the Interstate 5 bridge 34
replacement project account, the Interstate 405 and state route 35
number 167 express toll lanes account, the judges' retirement 36
account, the judicial retirement administrative account, the judicial 37
retirement principal account, the limited fish and wildlife account, 38
the local leasehold excise tax account, the local real estate excise 39
tax account, the local sales and use tax account, the marine 40
p. 14 HB 2657
resources stewardship trust account, the medical aid account, the 1
money-purchase retirement savings administrative account, the money-2
purchase retirement savings principal account, the motor vehicle 3
fund, the motorcycle safety education account, the move ahead WA 4
account, the move ahead WA flexible account, the multimodal 5
transportation account, the multiuse roadway safety account, the 6
municipal criminal justice assistance account, the oyster reserve 7
land account, the pension funding stabilization account, the 8
perpetual surveillance and maintenance account, the pilotage account, 9
the pollution liability insurance agency underground storage tank 10
revolving account, the medicaid access program account, the public 11
employees' retirement system plan 1 account, the public employees' 12
retirement system combined plan 2 and plan 3 account, the public 13
facilities construction loan revolving account, the abortion savings 14
account, the public health supplemental account, the public works 15
assistance account, the Puget Sound capital construction account, the 16
Puget Sound ferry operations account, the Puget Sound Gateway 17
facility account, the Puget Sound taxpayer accountability account, 18
the real estate appraiser commission account, the recreational 19
vehicle account, the regional mobility grant program account, the 20
reserve officers' relief and pension principal fund, the resource 21
management cost account, the rural arterial trust account, the rural 22
mobility grant program account, the rural Washington loan fund, the 23
second injury fund, the sexual assault prevention and response 24
account, the site closure account, the skilled nursing facility 25
safety net trust fund, the small city pavement and sidewalk account, 26
the special category C account, the special wildlife account, the 27
state hazard mitigation revolving loan account, the state investment 28
board expense account, the state investment board commingled trust 29
fund accounts, the state patrol highway account, the state 30
reclamation revolving account, the state route number 520 civil 31
penalties account, the state route number 520 corridor account, the 32
statewide broadband account, the statewide tourism marketing account, 33
the supplemental pension account, the Tacoma Narrows toll bridge 34
account, the teachers' retirement system plan 1 account, the 35
teachers' retirement system combined plan 2 and plan 3 account, the 36
tobacco prevention and control account, the tobacco settlement 37
account, the toll facility bond retirement account, the 38
transportation 2003 account (nickel account), the transportation 39
equipment fund, the JUDY transportation future funding program 40
p. 15 HB 2657
account, the transportation improvement account, the transportation 1
improvement board bond retirement account, the transportation 2
infrastructure account, the transportation partnership account, the 3
traumatic brain injury account, the tribal opioid prevention and 4
treatment account, the University of Washington bond retirement fund, 5
the University of Washington building account, the voluntary cleanup 6
account, the volunteer firefighters' relief and pension principal 7
fund, the volunteer firefighters' and reserve officers' 8
administrative fund, the vulnerable roadway user education account, 9
the Washington judicial retirement system account, the Washington law 10
enforcement officers' and firefighters' system plan 1 retirement 11
account, the Washington law enforcement officers' and firefighters' 12
system plan 2 retirement account, the Washington public safety 13
employees' plan 2 retirement account, the Washington school 14
employees' retirement system combined plan 2 and 3 account, the 15
Washington state patrol retirement account, the Washington State 16
University building account, the Washington State University bond 17
retirement fund, the water pollution control revolving administration 18
account, the water pollution control revolving fund, the Western 19
Washington University capital projects account, the Yakima integrated 20
plan implementation account, the Yakima integrated plan 21
implementation revenue recovery account, and the Yakima integrated 22
plan implementation taxable bond account. Earnings derived from 23
investing balances of the agricultural permanent fund, the normal 24
school permanent fund, the permanent common school fund, the 25
scientific permanent fund, and the state university permanent fund 26
shall be allocated to their respective beneficiary accounts.27
(b) Any state agency that has independent authority over accounts 28
or funds not statutorily required to be held in the state treasury 29
that deposits funds into a fund or account in the state treasury 30
pursuant to an agreement with the office of the state treasurer shall 31
receive its proportionate share of earnings based upon each account's 32
or fund's average daily balance for the period. 33
(5) In conformance with Article II, section 37 of the state 34
Constitution, no treasury accounts or funds shall be allocated 35
earnings without the specific affirmative directive of this section.36
Sec. 7. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, and 37
2025 c 299 s 22 are each reenacted and amended to read as follows:38
p. 16 HB 2657
(1) All earnings of investments of surplus balances in the state 1
treasury shall be deposited to the treasury income account, which 2
account is hereby established in the state treasury.3
(2) The treasury income account shall be utilized to pay or 4
receive funds associated with federal programs as required by the 5
federal cash management improvement act of 1990. The treasury income 6
account is subject in all respects to chapter 43.88 RCW, but no 7
appropriation is required for refunds or allocations of interest 8
earnings required by the cash management improvement act. Refunds of 9
interest to the federal treasury required under the cash management 10
improvement act fall under RCW 43.88.180 and shall not require 11
appropriation. The office of financial management shall determine the 12
amounts due to or from the federal government pursuant to the cash 13
management improvement act. The office of financial management may 14
direct transfers of funds between accounts as deemed necessary to 15
implement the provisions of the cash management improvement act, and 16
this subsection. Refunds or allocations shall occur prior to the 17
distributions of earnings set forth in subsection (4) of this 18
section. 19
(3) Except for the provisions of RCW 43.84.160, the treasury 20
income account may be utilized for the payment of purchased banking 21
services on behalf of treasury funds including, but not limited to, 22
depository, safekeeping, and disbursement functions for the state 23
treasury and affected state agencies. The treasury income account is 24
subject in all respects to chapter 43.88 RCW, but no appropriation is 25
required for payments to financial institutions. Payments shall occur 26
prior to distribution of earnings set forth in subsection (4) of this 27
section. 28
(4) Monthly, the state treasurer shall distribute the earnings 29
credited to the treasury income account. The state treasurer shall 30
credit the general fund with all the earnings credited to the 31
treasury income account except: 32
(a) The following accounts and funds shall receive their 33
proportionate share of earnings based upon each account's and fund's 34
average daily balance for the period: The abandoned recreational 35
vehicle disposal account, the aeronautics account, the Alaskan Way 36
viaduct replacement project account, the budget stabilization 37
account, the capital vessel replacement account, the capitol building 38
construction account, the Central Washington University capital 39
projects account, the charitable, educational, penal and reformatory 40
p. 17 HB 2657
institutions account, the Chehalis basin account, the Chehalis basin 1
taxable account, the clean fuels credit account, the clean fuels 2
transportation investment account, the cleanup settlement account, 3
the Columbia river basin water supply development account, the 4
Columbia river basin taxable bond water supply development account, 5
the Columbia river basin water supply revenue recovery account, the 6
common school construction fund, the community forest trust account, 7
the connecting Washington account, the county arterial preservation 8
account, the county criminal justice assistance account, the covenant 9
homeownership account, the deferred compensation administrative 10
account, the deferred compensation principal account, the department 11
of licensing services account, the department of retirement systems 12
expense account, the developmental disabilities community services 13
account, the diesel idle reduction account, the opioid abatement 14
settlement account, the drinking water assistance account, the 15
administrative subaccount of the drinking water assistance account, 16
the driver education safety improvement account, the early learning 17
facilities development account, the early learning facilities 18
revolving account, the Eastern Washington University capital projects 19
account, the education legacy trust account, the election account, 20
the electric vehicle account, the energy freedom account, the energy 21
recovery act account, the essential rail assistance account, The 22
Evergreen State College capital projects account, the fair start for 23
kids account, the family medicine workforce development account, the 24
ferry bond retirement fund, the fish, wildlife, and conservation 25
account, the freight mobility investment account, the freight 26
mobility multimodal account, the grade crossing protective fund, the 27
higher education retirement plan supplemental benefit fund, the 28
Washington student loan account, the highway bond retirement fund, 29
the highway infrastructure account, the highway safety fund, the 30
hospital safety net assessment fund, the Interstate 5 bridge 31
replacement project account, the Interstate 405 and state route 32
number 167 express toll lanes account, the judges' retirement 33
account, the judicial retirement administrative account, the judicial 34
retirement principal account, the limited fish and wildlife account, 35
the local leasehold excise tax account, the local real estate excise 36
tax account, the local sales and use tax account, the marine 37
resources stewardship trust account, the medical aid account, the 38
money-purchase retirement savings administrative account, the money-39
purchase retirement savings principal account, the motor vehicle 40
p. 18 HB 2657
fund, the motorcycle safety education account, the move ahead WA 1
account, the move ahead WA flexible account, the multimodal 2
transportation account, the multiuse roadway safety account, the 3
municipal criminal justice assistance account, the oyster reserve 4
land account, the pension funding stabilization account, the 5
perpetual surveillance and maintenance account, the pilotage account, 6
the pollution liability insurance agency underground storage tank 7
revolving account, the public employees' retirement system plan 1 8
account, the public employees' retirement system combined plan 2 and 9
plan 3 account, the public facilities construction loan revolving 10
account, the abortion savings account, the public health supplemental 11
account, the public works assistance account, the Puget Sound capital 12
construction account, the Puget Sound ferry operations account, the 13
Puget Sound Gateway facility account, the Puget Sound taxpayer 14
accountability account, the real estate appraiser commission account, 15
the recreational vehicle account, the regional mobility grant program 16
account, the reserve officers' relief and pension principal fund, the 17
resource management cost account, the rural arterial trust account, 18
the rural mobility grant program account, the rural Washington loan 19
fund, the second injury fund, the sexual assault prevention and 20
response account, the site closure account, the skilled nursing 21
facility safety net trust fund, the small city pavement and sidewalk 22
account, the special category C account, the special wildlife 23
account, the state hazard mitigation revolving loan account, the 24
state investment board expense account, the state investment board 25
commingled trust fund accounts, the state patrol highway account, the 26
state reclamation revolving account, the state route number 520 civil 27
penalties account, the state route number 520 corridor account, the 28
statewide broadband account, the statewide tourism marketing account, 29
the supplemental pension account, the Tacoma Narrows toll bridge 30
account, the teachers' retirement system plan 1 account, the 31
teachers' retirement system combined plan 2 and plan 3 account, the 32
tobacco prevention and control account, the tobacco settlement 33
account, the toll facility bond retirement account, the 34
transportation 2003 account (nickel account), the transportation 35
equipment fund, the JUDY transportation future funding program 36
account, the transportation improvement account, the transportation 37
improvement board bond retirement account, the transportation 38
infrastructure account, the transportation partnership account, the 39
traumatic brain injury account, the tribal opioid prevention and 40
p. 19 HB 2657
treatment account, the University of Washington bond retirement fund, 1
the University of Washington building account, the voluntary cleanup 2
account, the volunteer firefighters' relief and pension principal 3
fund, the volunteer firefighters' and reserve officers' 4
administrative fund, the vulnerable roadway user education account, 5
the Washington judicial retirement system account, the Washington law 6
enforcement officers' and firefighters' system plan 1 retirement 7
account, the Washington law enforcement officers' and firefighters' 8
system plan 2 retirement account, the Washington public safety 9
employees' plan 2 retirement account, the Washington school 10
employees' retirement system combined plan 2 and 3 account, the 11
Washington state patrol retirement account, the Washington State 12
University building account, the Washington State University bond 13
retirement fund, the water pollution control revolving administration 14
account, the water pollution control revolving fund, the Western 15
Washington University capital projects account, the Yakima integrated 16
plan implementation account, the Yakima integrated plan 17
implementation revenue recovery account, and the Yakima integrated 18
plan implementation taxable bond account. Earnings derived from 19
investing balances of the agricultural permanent fund, the normal 20
school permanent fund, the permanent common school fund, the 21
scientific permanent fund, and the state university permanent fund 22
shall be allocated to their respective beneficiary accounts.23
(b) Any state agency that has independent authority over accounts 24
or funds not statutorily required to be held in the state treasury 25
that deposits funds into a fund or account in the state treasury 26
pursuant to an agreement with the office of the state treasurer shall 27
receive its proportionate share of earnings based upon each account's 28
or fund's average daily balance for the period. 29
(5) In conformance with Article II, section 37 of the state 30
Constitution, no treasury accounts or funds shall be allocated 31
earnings without the specific affirmative directive of this section.32
Sec. 8. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 33
2025 c 359 s 13, 2025 c 299 s 22, and 2025 c 228 s 15 are each 34
reenacted and amended to read as follows: 35
(1) All earnings of investments of surplus balances in the state 36
treasury shall be deposited to the treasury income account, which 37
account is hereby established in the state treasury.38
p. 20 HB 2657
(2) The treasury income account shall be utilized to pay or 1
receive funds associated with federal programs as required by the 2
federal cash management improvement act of 1990. The treasury income 3
account is subject in all respects to chapter 43.88 RCW, but no 4
appropriation is required for refunds or allocations of interest 5
earnings required by the cash management improvement act. Refunds of 6
interest to the federal treasury required under the cash management 7
improvement act fall under RCW 43.88.180 and shall not require 8
appropriation. The office of financial management shall determine the 9
amounts due to or from the federal government pursuant to the cash 10
management improvement act. The office of financial management may 11
direct transfers of funds between accounts as deemed necessary to 12
implement the provisions of the cash management improvement act, and 13
this subsection. Refunds or allocations shall occur prior to the 14
distributions of earnings set forth in subsection (4) of this 15
section. 16
(3) Except for the provisions of RCW 43.84.160, the treasury 17
income account may be utilized for the payment of purchased banking 18
services on behalf of treasury funds including, but not limited to, 19
depository, safekeeping, and disbursement functions for the state 20
treasury and affected state agencies. The treasury income account is 21
subject in all respects to chapter 43.88 RCW, but no appropriation is 22
required for payments to financial institutions. Payments shall occur 23
prior to distribution of earnings set forth in subsection (4) of this 24
section. 25
(4) Monthly, the state treasurer shall distribute the earnings 26
credited to the treasury income account. The state treasurer shall 27
credit the general fund with all the earnings credited to the 28
treasury income account except: 29
(a) The following accounts and funds shall receive their 30
proportionate share of earnings based upon each account's and fund's 31
average daily balance for the period: The abandoned recreational 32
vehicle disposal account, the aeronautics account, the Alaskan Way 33
viaduct replacement project account, the budget stabilization 34
account, the capital vessel replacement account, the capitol building 35
construction account, the Central Washington University capital 36
projects account, the charitable, educational, penal and reformatory 37
institutions account, the Chehalis basin account, the Chehalis basin 38
taxable account, the clean fuels credit account, the clean fuels 39
transportation investment account, the cleanup settlement account, 40
p. 21 HB 2657
the Columbia river basin water supply development account, the 1
Columbia river basin taxable bond water supply development account, 2
the Columbia river basin water supply revenue recovery account, the 3
common school construction fund, the community forest trust account, 4
the connecting Washington account, the county arterial preservation 5
account, the county criminal justice assistance account, the covenant 6
homeownership account, the deferred compensation administrative 7
account, the deferred compensation principal account, the department 8
of licensing services account, the department of retirement systems 9
expense account, the developmental disabilities community services 10
account, the diesel idle reduction account, the opioid abatement 11
settlement account, the drinking water assistance account, the 12
administrative subaccount of the drinking water assistance account, 13
the driver education safety improvement account, the early learning 14
facilities development account, the early learning facilities 15
revolving account, the Eastern Washington University capital projects 16
account, the education legacy trust account, the election account, 17
the electric vehicle account, the energy freedom account, the energy 18
recovery act account, the essential rail assistance account, The 19
Evergreen State College capital projects account, the fair start for 20
kids account, the family medicine workforce development account, the 21
ferry bond retirement fund, the fish, wildlife, and conservation 22
account, the freight mobility investment account, the freight 23
mobility multimodal account, the grade crossing protective fund, the 24
higher education retirement plan supplemental benefit fund, the 25
Washington student loan account, the highway bond retirement fund, 26
the highway infrastructure account, the highway safety fund, the 27
hospital safety net assessment fund, the intelligent speed assistance 28
device revolving account, the Interstate 5 bridge replacement project 29
account, the Interstate 405 and state route number 167 express toll 30
lanes account, the judges' retirement account, the judicial 31
retirement administrative account, the judicial retirement principal 32
account, the limited fish and wildlife account, the local leasehold 33
excise tax account, the local real estate excise tax account, the 34
local sales and use tax account, the marine resources stewardship 35
trust account, the medical aid account, the money-purchase retirement 36
savings administrative account, the money-purchase retirement savings 37
principal account, the motor vehicle fund, the motorcycle safety 38
education account, the move ahead WA account, the move ahead WA 39
flexible account, the multimodal transportation account, the multiuse 40
p. 22 HB 2657
roadway safety account, the municipal criminal justice assistance 1
account, the oyster reserve land account, the pension funding 2
stabilization account, the perpetual surveillance and maintenance 3
account, the pilotage account, the pollution liability insurance 4
agency underground storage tank revolving account, the medicaid 5
access program account, the public employees' retirement system plan 6
1 account, the public employees' retirement system combined plan 2 7
and plan 3 account, the public facilities construction loan revolving 8
account, the abortion savings account, the public health supplemental 9
account, the public works assistance account, the Puget Sound capital 10
construction account, the Puget Sound ferry operations account, the 11
Puget Sound Gateway facility account, the Puget Sound taxpayer 12
accountability account, the real estate appraiser commission account, 13
the recreational vehicle account, the regional mobility grant program 14
account, the reserve officers' relief and pension principal fund, the 15
resource management cost account, the rural arterial trust account, 16
the rural mobility grant program account, the rural Washington loan 17
fund, the second injury fund, the sexual assault prevention and 18
response account, the site closure account, the skilled nursing 19
facility safety net trust fund, the small city pavement and sidewalk 20
account, the special category C account, the special wildlife 21
account, the state hazard mitigation revolving loan account, the 22
state investment board expense account, the state investment board 23
commingled trust fund accounts, the state patrol highway account, the 24
state reclamation revolving account, the state route number 520 civil 25
penalties account, the state route number 520 corridor account, the 26
statewide broadband account, the statewide tourism marketing account, 27
the supplemental pension account, the Tacoma Narrows toll bridge 28
account, the teachers' retirement system plan 1 account, the 29
teachers' retirement system combined plan 2 and plan 3 account, the 30
tobacco prevention and control account, the tobacco settlement 31
account, the toll facility bond retirement account, the 32
transportation 2003 account (nickel account), the transportation 33
equipment fund, the JUDY transportation future funding program 34
account, the transportation improvement account, the transportation 35
improvement board bond retirement account, the transportation 36
infrastructure account, the transportation partnership account, the 37
traumatic brain injury account, the tribal opioid prevention and 38
treatment account, the University of Washington bond retirement fund, 39
the University of Washington building account, the voluntary cleanup 40
p. 23 HB 2657
account, the volunteer firefighters' relief and pension principal 1
fund, the volunteer firefighters' and reserve officers' 2
administrative fund, the vulnerable roadway user education account, 3
the Washington judicial retirement system account, the Washington law 4
enforcement officers' and firefighters' system plan 1 retirement 5
account, the Washington law enforcement officers' and firefighters' 6
system plan 2 retirement account, the Washington public safety 7
employees' plan 2 retirement account, the Washington school 8
employees' retirement system combined plan 2 and 3 account, the 9
Washington state patrol retirement account, the Washington State 10
University building account, the Washington State University bond 11
retirement fund, the water pollution control revolving administration 12
account, the water pollution control revolving fund, the Western 13
Washington University capital projects account, the Yakima integrated 14
plan implementation account, the Yakima integrated plan 15
implementation revenue recovery account, and the Yakima integrated 16
plan implementation taxable bond account. Earnings derived from 17
investing balances of the agricultural permanent fund, the normal 18
school permanent fund, the permanent common school fund, the 19
scientific permanent fund, and the state university permanent fund 20
shall be allocated to their respective beneficiary accounts.21
(b) Any state agency that has independent authority over accounts 22
or funds not statutorily required to be held in the state treasury 23
that deposits funds into a fund or account in the state treasury 24
pursuant to an agreement with the office of the state treasurer shall 25
receive its proportionate share of earnings based upon each account's 26
or fund's average daily balance for the period. 27
(5) In conformance with Article II, section 37 of the state 28
Constitution, no treasury accounts or funds shall be allocated 29
earnings without the specific affirmative directive of this section.30
Sec. 9. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 31
2025 c 299 s 22, and 2025 c 228 s 15 are each reenacted and amended 32
to read as follows: 33
(1) All earnings of investments of surplus balances in the state 34
treasury shall be deposited to the treasury income account, which 35
account is hereby established in the state treasury.36
(2) The treasury income account shall be utilized to pay or 37
receive funds associated with federal programs as required by the 38
federal cash management improvement act of 1990. The treasury income 39
p. 24 HB 2657
account is subject in all respects to chapter 43.88 RCW, but no 1
appropriation is required for refunds or allocations of interest 2
earnings required by the cash management improvement act. Refunds of 3
interest to the federal treasury required under the cash management 4
improvement act fall under RCW 43.88.180 and shall not require 5
appropriation. The office of financial management shall determine the 6
amounts due to or from the federal government pursuant to the cash 7
management improvement act. The office of financial management may 8
direct transfers of funds between accounts as deemed necessary to 9
implement the provisions of the cash management improvement act, and 10
this subsection. Refunds or allocations shall occur prior to the 11
distributions of earnings set forth in subsection (4) of this 12
section. 13
(3) Except for the provisions of RCW 43.84.160, the treasury 14
income account may be utilized for the payment of purchased banking 15
services on behalf of treasury funds including, but not limited to, 16
depository, safekeeping, and disbursement functions for the state 17
treasury and affected state agencies. The treasury income account is 18
subject in all respects to chapter 43.88 RCW, but no appropriation is 19
required for payments to financial institutions. Payments shall occur 20
prior to distribution of earnings set forth in subsection (4) of this 21
section. 22
(4) Monthly, the state treasurer shall distribute the earnings 23
credited to the treasury income account. The state treasurer shall 24
credit the general fund with all the earnings credited to the 25
treasury income account except: 26
(a) The following accounts and funds shall receive their 27
proportionate share of earnings based upon each account's and fund's 28
average daily balance for the period: The abandoned recreational 29
vehicle disposal account, the aeronautics account, the Alaskan Way 30
viaduct replacement project account, the budget stabilization 31
account, the capital vessel replacement account, the capitol building 32
construction account, the Central Washington University capital 33
projects account, the charitable, educational, penal and reformatory 34
institutions account, the Chehalis basin account, the Chehalis basin 35
taxable account, the clean fuels credit account, the clean fuels 36
transportation investment account, the cleanup settlement account, 37
the Columbia river basin water supply development account, the 38
Columbia river basin taxable bond water supply development account, 39
the Columbia river basin water supply revenue recovery account, the 40
p. 25 HB 2657
common school construction fund, the community forest trust account, 1
the connecting Washington account, the county arterial preservation 2
account, the county criminal justice assistance account, the covenant 3
homeownership account, the deferred compensation administrative 4
account, the deferred compensation principal account, the department 5
of licensing services account, the department of retirement systems 6
expense account, the developmental disabilities community services 7
account, the diesel idle reduction account, the opioid abatement 8
settlement account, the drinking water assistance account, the 9
administrative subaccount of the drinking water assistance account, 10
the driver education safety improvement account, the early learning 11
facilities development account, the early learning facilities 12
revolving account, the Eastern Washington University capital projects 13
account, the education legacy trust account, the election account, 14
the electric vehicle account, the energy freedom account, the energy 15
recovery act account, the essential rail assistance account, The 16
Evergreen State College capital projects account, the fair start for 17
kids account, the family medicine workforce development account, the 18
ferry bond retirement fund, the fish, wildlife, and conservation 19
account, the freight mobility investment account, the freight 20
mobility multimodal account, the grade crossing protective fund, the 21
higher education retirement plan supplemental benefit fund, the 22
Washington student loan account, the highway bond retirement fund, 23
the highway infrastructure account, the highway safety fund, the 24
hospital safety net assessment fund, the intelligent speed assistance 25
device revolving account, the Interstate 5 bridge replacement project 26
account, the Interstate 405 and state route number 167 express toll 27
lanes account, the judges' retirement account, the judicial 28
retirement administrative account, the judicial retirement principal 29
account, the limited fish and wildlife account, the local leasehold 30
excise tax account, the local real estate excise tax account, the 31
local sales and use tax account, the marine resources stewardship 32
trust account, the medical aid account, the money-purchase retirement 33
savings administrative account, the money-purchase retirement savings 34
principal account, the motor vehicle fund, the motorcycle safety 35
education account, the move ahead WA account, the move ahead WA 36
flexible account, the multimodal transportation account, the multiuse 37
roadway safety account, the municipal criminal justice assistance 38
account, the oyster reserve land account, the pension funding 39
stabilization account, the perpetual surveillance and maintenance 40
p. 26 HB 2657
account, the pilotage account, the pollution liability insurance 1
agency underground storage tank revolving account, the public 2
employees' retirement system plan 1 account, the public employees' 3
retirement system combined plan 2 and plan 3 account, the public 4
facilities construction loan revolving account, the abortion savings 5
account, the public health supplemental account, the public works 6
assistance account, the Puget Sound capital construction account, the 7
Puget Sound ferry operations account, the Puget Sound Gateway 8
facility account, the Puget Sound taxpayer accountability account, 9
the real estate appraiser commission account, the recreational 10
vehicle account, the regional mobility grant program account, the 11
reserve officers' relief and pension principal fund, the resource 12
management cost account, the rural arterial trust account, the rural 13
mobility grant program account, the rural Washington loan fund, the 14
second injury fund, the sexual assault prevention and response 15
account, the site closure account, the skilled nursing facility 16
safety net trust fund, the small city pavement and sidewalk account, 17
the special category C account, the special wildlife account, the 18
state hazard mitigation revolving loan account, the state investment 19
board expense account, the state investment board commingled trust 20
fund accounts, the state patrol highway account, the state 21
reclamation revolving account, the state route number 520 civil 22
penalties account, the state route number 520 corridor account, the 23
statewide broadband account, the statewide tourism marketing account, 24
the supplemental pension account, the Tacoma Narrows toll bridge 25
account, the teachers' retirement system plan 1 account, the 26
teachers' retirement system combined plan 2 and plan 3 account, the 27
tobacco prevention and control account, the tobacco settlement 28
account, the toll facility bond retirement account, the 29
transportation 2003 account (nickel account), the transportation 30
equipment fund, the JUDY transportation future funding program 31
account, the transportation improvement account, the transportation 32
improvement board bond retirement account, the transportation 33
infrastructure account, the transportation partnership account, the 34
traumatic brain injury account, the tribal opioid prevention and 35
treatment account, the University of Washington bond retirement fund, 36
the University of Washington building account, the voluntary cleanup 37
account, the volunteer firefighters' relief and pension principal 38
fund, the volunteer firefighters' and reserve officers' 39
administrative fund, the vulnerable roadway user education account, 40
p. 27 HB 2657
the Washington judicial retirement system account, the Washington law 1
enforcement officers' and firefighters' system plan 1 retirement 2
account, the Washington law enforcement officers' and firefighters' 3
system plan 2 retirement account, the Washington public safety 4
employees' plan 2 retirement account, the Washington school 5
employees' retirement system combined plan 2 and 3 account, the 6
Washington state patrol retirement account, the Washington State 7
University building account, the Washington State University bond 8
retirement fund, the water pollution control revolving administration 9
account, the water pollution control revolving fund, the Western 10
Washington University capital projects account, the Yakima integrated 11
plan implementation account, the Yakima integrated plan 12
implementation revenue recovery account, and the Yakima integrated 13
plan implementation taxable bond account. Earnings derived from 14
investing balances of the agricultural permanent fund, the normal 15
school permanent fund, the permanent common school fund, the 16
scientific permanent fund, and the state university permanent fund 17
shall be allocated to their respective beneficiary accounts.18
(b) Any state agency that has independent authority over accounts 19
or funds not statutorily required to be held in the state treasury 20
that deposits funds into a fund or account in the state treasury 21
pursuant to an agreement with the office of the state treasurer shall 22
receive its proportionate share of earnings based upon each account's 23
or fund's average daily balance for the period. 24
(5) In conformance with Article II, section 37 of the state 25
Constitution, no treasury accounts or funds shall be allocated 26
earnings without the specific affirmative directive of this section.27
NEW SECTION. Sec. 10. (1) Section 4 of this act expires the 28
earlier of July 1, 2028, or when RCW 74.76.040 expires.29
(2) Section 5 of this act expires July 1, 2028.30
(3) Section 6 of this act expires the earlier of January 1, 2029, 31
or when RCW 74.76.040 expires. 32
(4) Section 7 of this act expires January 1, 2029.33
(5) Section 8 of this act expires when RCW 74.76.040 expires.34
NEW SECTION. Sec. 11. (1) Section 5 of this act takes effect 35
when RCW 74.76.040 expires.36
(2) Sections 6 and 7 of this act take effect July 1, 2028.37
p. 28 HB 2657
(3) Sections 8 and 9 of this act take effect January 1, 2029.1
--- END ---
p. 29 HB 2657