Accounts

AN ACT Relating to accounts; amending RCW 19.285.060, 43.07.370, 1
43.330.400, 48.160.020, and 69.51A.230; amending 1931 c 97 s 2 2
(uncodified); reenacting and amending RCW 43.79A.040, 43.79A.040, 3
43.84.092, and 43.84.092; creating a new section; repealing RCW 4
13.40.560, 19.385.030, 28B.50.286, 43.07.388, 43.19.035, 43.63A.766, 5
43.79A.041, 43.83.360, 43.135.045, 47.76.450, 48.160.005, and 6
82.32.800; providing effective dates; providing expiration dates; and 7
declaring an emergency. 8
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:9
NEW SECTION. Sec. 1. The following acts or parts of acts are 10
each repealed:11
(1) RCW 13.40.560 (Juvenile accountability incentive account) and 12
2017 3rd sp.s. c 6 s 624 & 1999 c 182 s 1; 13
(2) RCW 19.385.030 (Internet consumer access account) and 2018 c 14
5 s 3; 15
(3) RCW 28B.50.286 (Opportunity express account) and 2010 1st 16
sp.s. c 24 s 5; 17
(4) RCW 43.07.388 (Washington state flag account) and 2009 c 71 s 18
2; 19
(5) RCW 43.19.035 (Commemorative works account) and 2011 1st 20
sp.s. c 43 s 203 & 2005 c 16 s 1; 21
Z-0203.2
SENATE BILL 5441
State of Washington 69th Legislature 2025 Regular Session
By Senators Stanford and Nobles; by request of Office of Financial
Management
Read first time 01/22/25. Referred to Committee on Ways & Means.
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(6) RCW 43.63A.766 (Building communities fund account) and 2008 c 1
327 s 14; 2
(7) RCW 43.79A.041 (Millersylvania park trust fund — Investment 3
authority) and 2012 c 187 s 12. 4
(8) RCW 43.83.360 (State social and health services construction 5
account— Definition) and 2015 1st sp.s. c 4 s 36, 1991 sp.s. c 13 s 6
56, 1985 c 57 s 49, & 1975-'76 2nd ex.s. c 125 s 3;7
(9) RCW 43.135.045 (Education construction fund — Appropriation 8
conditions) and 2016 sp.s. c 36 s 934 & 2013 2nd sp.s. c 9 s 5;9
(10) RCW 47.76.450 (Produce railcar pool account) and 2003 c 191 10
s 6; 11
(11) RCW 48.160.005 (Guaranteed asset protection waiver account) 12
and 2009 c 334 s 10; and 13
(12) RCW 82.32.800 (Contributions of high-technology research and 14
development tax credit — Opportunity expansion account) and 2011 1st 15
sp.s. c 13 s 10. 16
Sec. 2. RCW 19.285.060 and 2021 c 79 s 2 are each amended to 17
read as follows: 18
(1) Except as provided in subsection (2) of this section, a 19
qualifying utility that fails to comply with the energy conservation 20
or renewable energy targets established in RCW 19.285.040 shall pay 21
an administrative penalty to the state of Washington in the amount of 22
fifty dollars for each megawatt-hour of shortfall. Beginning in 2007, 23
this penalty shall be adjusted annually according to the rate of 24
change of the inflation indicator, gross domestic product-implicit 25
price deflator, as published by the bureau of economic analysis of 26
the United States department of commerce or its successor.27
(2) A qualifying utility that does not meet an annual renewable 28
energy target established in RCW 19.285.040(2) or biennial 29
acquisition target for cost-effective conservation in RCW 30
19.285.040(1) is exempt from the administrative penalty in subsection 31
(1) of this section for that year if the commission for investor-32
owned utilities or the auditor for all other qualifying utilities 33
determines that the utility complied with RCW 19.285.040 (1)(e) or 34
(2) (d) or (i) or 19.285.050(1). 35
(3) A qualifying utility must notify its retail electric 36
customers in published form within three months of incurring a 37
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penalty regarding the size of the penalty and the reason it was 1
incurred. 2
(4) The commission shall determine if an investor-owned utility 3
may recover the cost of this administrative penalty in electric 4
rates, and may consider providing positive incentives for an 5
investor-owned utility to exceed the targets established in RCW 6
19.285.040. 7
(5) ((Administrative penalties collected under this chapter shall 8
be deposited into the energy independence act special account which 9
is hereby created. All receipts from administrative penalties 10
collected under this chapter must be deposited into the account. 11
Expenditures from the account may be used only for the purchase of 12
renewable energy credits or for energy conservation projects at 13
public facilities, local government facilities, community colleges, 14
or state universities. The state shall own and retire any renewable 15
energy credits purchased using moneys from the account. Only the 16
director of enterprise services or the director's designee may 17
authorize expenditures from the account. The account is subject to 18
allotment procedures under chapter 43.88 RCW, but an appropriation is 19
not required for expenditures.20
(6))) For a qualifying utility that is an investor-owned utility, 21
the commission shall determine compliance with the provisions of this 22
chapter and assess penalties for noncompliance as provided in 23
subsection (1) of this section. 24
(((7))) (6) For qualifying utilities that are not investor-owned 25
utilities, the auditor is responsible for auditing compliance with 26
this chapter and rules adopted under this chapter that apply to those 27
utilities and the attorney general is responsible for enforcing that 28
compliance. 29
Sec. 3. RCW 43.07.370 and 2019 c 448 s 8 are each amended to 30
read as follows: 31
(1) The secretary of state may solicit and accept gifts, grants, 32
conveyances, bequests, and devises of real or personal property, or 33
both, in trust or otherwise, and sell, lease, exchange, invest, or 34
expend these donations or the proceeds, rents, profits, and income 35
from the donations except as limited by the donor's terms.36
(2) Moneys received under this section may be used only for the 37
following purposes: 38
(a) Conducting the Washington state legacy project;39
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(b) Archival activities; 1
(c) Washington state library activities; 2
(d) Development, construction, and operation of the Washington 3
state library-archives building; and 4
(e) Donation of Washington state flags. 5
(3)(a) Moneys received under subsection (2)(a) through (c) of 6
this section must be deposited in the Washington state legacy 7
project, state library, and archives account established in RCW 8
43.07.380. 9
(b) Moneys received under subsection (2)(d) of this section must 10
be deposited in the Washington state library-archives building 11
account created in RCW 43.07.410. 12
(c) Moneys received under subsection (2)(e) of this section must 13
be deposited in the ((Washington state flag account )) secretary of 14
state's revolving fund created in RCW ((43.07.388)) 43.07.130.15
(4) The secretary of state shall adopt rules to govern and 16
protect the receipt and expenditure of the proceeds.17
Sec. 4. RCW 43.330.400 and 2011 1st sp.s. c 43 s 603 are each 18
amended to read as follows: 19
(1) The federal broadband ((mapping)) account is ((established)) 20
created in the ((custody of the state treasurer )) state treasury . 21
((The department shall deposit into the account such )) All receipts 22
from funds received from legislative appropriation or transfer , 23
federal funding, and ((donated funds from private and public 24
sources)) moneys directed to the account from any other lawful 25
source, must be deposited in the account . Moneys in the account may 26
be spent only after appropriation. Expenditures from the account may 27
be used only for ((the purposes of RCW 43.330.403 through 43.330.409. 28
Only the director of the department or the director's designee may 29
authorize expenditures from the account. The account is subject to 30
the allotment procedures under chapter 43.88 RCW, but an 31
appropriation is not required for expenditures )) broadband activities 32
authorized under federal law and for nonfederal match requirements.33
(2) ((The department is the single eligible entity in the state 34
for purposes of the federal broadband mapping activities.35
(3))) Federal funding received by the department for broadband 36
((mapping)) activities must be used in accordance with any federal 37
requirements and, subject to those requirements, may be distributed 38
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by the department on a competitive basis to other entities in the 1
state. 2
(((4) The department shall consult with the office of financial 3
management and the utilities and transportation commission in 4
coordinating broadband mapping activities. In carrying out any 5
broadband mapping activities, the provisions of P.L. 110-385, Title 6
I, regarding trade secrets, commercial or financial information, and 7
privileged or confidential information submitted by the federal 8
communications commission or a broadband provider are deemed to 9
encompass the consulted agencies.))10
Sec. 5. RCW 48.160.020 and 2009 c 334 s 3 are each amended to 11
read as follows: 12
(1) This chapter applies only to guaranteed asset protection 13
waivers for financing of motor vehicles as defined in this chapter. 14
Any person or entity must register with the commissioner before 15
marketing, offering for sale or selling a guaranteed asset protection 16
waiver, and before acting as an obligor for a guaranteed asset 17
protection waiver, in this state. However, a retail seller of motor 18
vehicles that assigns more than eighty-five percent of guaranteed 19
asset protection waiver agreements within thirty days of such 20
agreements' effective date, or an insurer authorized to transact such 21
insurance business in this state, are not required to register 22
pursuant to this section. Failure of any retail seller of motor 23
vehicles to assign one hundred percent of guaranteed asset protection 24
waiver agreements within forty-five days of such agreements' 25
effective date will result in that retail seller being required to 26
comply with the registration requirements of this chapter.27
(2) No person may market, offer for sale, or sell a guaranteed 28
asset protection waiver, or act as an obligor on a guaranteed asset 29
protection waiver in this state without a registration as provided in 30
this chapter, except as set forth in subsection (1) of this section.31
(3) The application for registration must include the following:32
(a) The applicant's name, address, and telephone number;33
(b) The identities of the applicant's executive officers or other 34
officers directly responsible for the waiver business;35
(c) An application fee of two hundred fifty dollars, which shall 36
be deposited into the ((guaranteed asset protection waiver account )) 37
general fund; 38
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(d) A copy filed by the applicant with the commissioner of the 1
waivers the applicant intends to offer in this state;2
(e) A list of all unregistered marketers of guaranteed asset 3
protection waivers on which the applicant will be the obligor;4
(f) Such additional information as the commissioner may 5
reasonably require. 6
(4) Once registered, the applicant shall keep the information 7
required for registration current by reporting changes within thirty 8
days after the end of the month in which the change occurs.9
Sec. 6. RCW 69.51A.230 and 2022 c 16 s 127 are each amended to 10
read as follows: 11
(1) The department must contract with an entity to create, 12
administer, and maintain a secure and confidential medical cannabis 13
authorization database that allows: 14
(a) A cannabis retailer with a medical cannabis endorsement to 15
add a qualifying patient or designated provider and include the 16
amount of cannabis concentrates, useable cannabis, cannabis-infused 17
products, or plants for which the qualifying patient is authorized 18
under RCW 69.51A.210; 19
(b) Persons authorized to prescribe or dispense controlled 20
substances to access health care information on their patients for 21
the purpose of providing medical or pharmaceutical care for their 22
patients; 23
(c) A qualifying patient or designated provider to request and 24
receive his or her own health care information or information on any 25
person or entity that has queried their name or information;26
(d) Appropriate local, state, tribal, and federal law enforcement 27
or prosecutorial officials who are engaged in a bona fide specific 28
investigation of suspected cannabis-related activity that may be 29
illegal under Washington state law to confirm the validity of the 30
recognition card of a qualifying patient or designated provider;31
(e) A cannabis retailer holding a medical cannabis endorsement to 32
confirm the validity of the recognition card of a qualifying patient 33
or designated provider; 34
(f) The department of revenue to verify tax exemptions under 35
chapters 82.08 and 82.12 RCW; 36
(g) The department and the health care professional's 37
disciplining authorities to monitor authorizations and ensure 38
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compliance with this chapter and chapter 18.130 RCW by their 1
licensees; and 2
(h) Authorizations to expire six months or one year after entry 3
into the medical cannabis authorization database, depending on 4
whether the authorization is for a minor or an adult.5
(2) A qualifying patient and his or her designated provider, if 6
any, may be placed in the medical cannabis authorization database at 7
a cannabis retailer with a medical cannabis endorsement. After a 8
qualifying patient or designated provider is placed in the medical 9
cannabis authorization database, he or she must be provided with a 10
recognition card that contains identifiers required in subsection (3) 11
of this section. 12
(3) The recognition card requirements must be developed by the 13
department in rule and include: 14
(a) A randomly generated and unique identifying number;15
(b) For designated providers, the unique identifying number of 16
the qualifying patient whom the provider is assisting;17
(c) A photograph of the qualifying patient's or designated 18
provider's face taken by an employee of the cannabis retailer with a 19
medical cannabis endorsement at the same time that the qualifying 20
patient or designated provider is being placed in the medical 21
cannabis authorization database in accordance with rules adopted by 22
the department; 23
(d) The amount of cannabis concentrates, useable cannabis, 24
cannabis-infused products, or plants for which the qualifying patient 25
is authorized under RCW 69.51A.210; 26
(e) The effective date and expiration date of the recognition 27
card; 28
(f) The name of the health care professional who authorized the 29
qualifying patient or designated provider; and 30
(g) For the recognition card, additional security features as 31
necessary to ensure its validity. 32
(4)(a) For qualifying patients who are eighteen years of age or 33
older and their designated providers, recognition cards are valid for 34
one year from the date the health care professional issued the 35
authorization. For qualifying patients who are under the age of 36
eighteen and their designated providers, recognition cards are valid 37
for six months from the date the health care professional issued the 38
authorization. Qualifying patients may not be reentered into the 39
medical cannabis authorization database until they have been 40
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reexamined by a health care professional and determined to meet the 1
definition of qualifying patient. After reexamination, a cannabis 2
retailer with a medical cannabis endorsement must reenter the 3
qualifying patient or designated provider into the medical cannabis 4
authorization database and a new recognition card will then be issued 5
in accordance with department rules. 6
(b) A qualifying patient's registration in the medical cannabis 7
authorization database and his or her recognition card may be renewed 8
by a qualifying patient's designated provider without the physical 9
presence of the qualifying patient at the retailer if the 10
authorization from the health care professional indicates that the 11
qualifying patient qualifies for a compassionate care renewal, as 12
provided in RCW 69.51A.030. A qualifying patient receiving renewals 13
under the compassionate care renewal provisions is exempt from the 14
photograph requirements under subsection (3)(c) of this section.15
(5) If a recognition card is lost or stolen, a cannabis retailer 16
with a medical cannabis endorsement, in conjunction with the database 17
administrator, may issue a new card that will be valid for six months 18
to one year if the patient is reexamined by a health care 19
professional and determined to meet the definition of qualifying 20
patient and depending on whether the patient is under the age of 21
eighteen or eighteen years of age or older as provided in subsection 22
(4) of this section. If a reexamination is not performed, the 23
expiration date of the replacement recognition card must be the same 24
as the lost or stolen recognition card. 25
(6) The database administrator must remove qualifying patients 26
and designated providers from the medical cannabis authorization 27
database upon expiration of the recognition card. Qualifying patients 28
and designated providers may request to remove themselves from the 29
medical cannabis authorization database before expiration of a 30
recognition card and health care professionals may request to remove 31
qualifying patients and designated providers from the medical 32
cannabis authorization database if the patient or provider no longer 33
qualifies for the medical use of cannabis. The database administrator 34
must retain database records for at least five calendar years to 35
permit the state liquor and cannabis board and the department of 36
revenue to verify eligibility for tax exemptions. 37
(7) During development of the medical cannabis authorization 38
database, the database administrator must consult with the 39
department, stakeholders, and persons with relevant expertise to 40
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include, but not be limited to, qualifying patients, designated 1
providers, health care professionals, state and local law enforcement 2
agencies, and the University of Washington computer science and 3
engineering security and privacy research lab or a certified 4
cybersecurity firm, vendor, or service. 5
(8) The medical cannabis authorization database must meet the 6
following requirements: 7
(a) Any personally identifiable information included in the 8
database must be nonreversible, pursuant to definitions and standards 9
set forth by the national institute of standards and technology;10
(b) Any personally identifiable information included in the 11
database must not be susceptible to linkage by use of data external 12
to the database; 13
(c) The database must incorporate current best differential 14
privacy practices, allowing for maximum accuracy of database queries 15
while minimizing the chances of identifying the personally 16
identifiable information included therein; and 17
(d) The database must be upgradable and updated in a timely 18
fashion to keep current with state of the art privacy and security 19
standards and practices. 20
(9)(a) Personally identifiable information of qualifying patients 21
and designated providers included in the medical cannabis 22
authorization database is confidential and exempt from public 23
disclosure, inspection, or copying under chapter 42.56 RCW.24
(b) Information contained in the medical cannabis authorization 25
database may be released in aggregate form, with all personally 26
identifiable information redacted, for the purpose of statistical 27
analysis and oversight of agency performance and actions.28
(c) Information contained in the medical cannabis authorization 29
database shall not be shared with the federal government or its 30
agents unless the particular qualifying patient or designated 31
provider is convicted in state court for violating this chapter or 32
chapter 69.50 RCW. 33
(10) The department must charge a one dollar fee for each initial 34
and renewal recognition card issued by a cannabis retailer with a 35
medical cannabis endorsement. The cannabis retailer with a medical 36
cannabis endorsement shall collect the fee from the qualifying 37
patient or designated provider at the time that he or she is entered 38
into the database and issued a recognition card. The department shall 39
establish a schedule for cannabis retailers with a medical cannabis 40
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endorsement to remit the fees collected. Fees collected under this 1
subsection shall be deposited into the dedicated cannabis account 2
created under RCW 69.50.530. 3
(11) If the database administrator fails to comply with this 4
section, the department may cancel any contracts with the database 5
administrator and contract with another database administrator to 6
continue administration of the database. A database administrator who 7
fails to comply with this section is subject to a fine of up to five 8
thousand dollars in addition to any penalties established in the 9
contract. Fines collected under this section must be deposited into 10
the ((health professions )) dedicated cannabis account created under 11
RCW ((43.70.320)) 69.50.530. 12
(12) The department may adopt rules to implement this section.13
Sec. 7. 1931 c 97 s 2 (uncodified) is amended to read as 14
follows: 15
That said park shall constitute, be held and maintained as a part 16
of the state parks system, with management and control of the same 17
vested in the state parks committee. Said bonds and any other bonds 18
purchased with said cash or with the principal proceeds of such bonds 19
as mature shall be placed in the custody of the state treasurer. 20
((Said cash and any proceeds or income from said cash or bonds shall 21
be placed in a special fund of the state treasury hereby created to 22
be known as the Millersylvania Park trust fund, the moneys of which 23
shall be deposited in a state depositary bank. )) Said cash and the 24
principal proceeds from said bonds may be invested in the same manner 25
and same class of bonds as the moneys of the common school fund; but 26
such bonds and cash shall constitute a permanent, irreducible fund, 27
the interest, income and earnings therefrom to be expended by the 28
state parks committee for the improvement, maintenance and upkeep of 29
said park in accordance with the terms of said will.30
Sec. 8. RCW 43.79A.040 and 2024 c 327 s 16 and 2024 c 168 s 10 31
are each reenacted and amended to read as follows:32
(1) Money in the treasurer's trust fund may be deposited, 33
invested, and reinvested by the state treasurer in accordance with 34
RCW 43.84.080 in the same manner and to the same extent as if the 35
money were in the state treasury, and may be commingled with moneys 36
in the state treasury for cash management and cash balance purposes.37
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(2) All income received from investment of the treasurer's trust 1
fund must be set aside in an account in the treasury trust fund to be 2
known as the investment income account. 3
(3) The investment income account may be utilized for the payment 4
of purchased banking services on behalf of treasurer's trust funds 5
including, but not limited to, depository, safekeeping, and 6
disbursement functions for the state treasurer or affected state 7
agencies. The investment income account is subject in all respects to 8
chapter 43.88 RCW, but no appropriation is required for payments to 9
financial institutions. Payments must occur prior to distribution of 10
earnings set forth in subsection (4) of this section.11
(4)(a) Monthly, the state treasurer must distribute the earnings 12
credited to the investment income account to the state general fund 13
except under (b), (c), and (d) of this subsection.14
(b) The following accounts and funds must receive their 15
proportionate share of earnings based upon each account's or fund's 16
average daily balance for the period: The 24/7 sobriety account, the 17
Washington promise scholarship account, the Gina Grant Bull memorial 18
legislative page scholarship account, the Rosa Franklin legislative 19
internship program scholarship account, the Washington advanced 20
college tuition payment program account, the Washington college 21
savings program account, the accessible communities account, the 22
Washington achieving a better life experience program account, the 23
Washington career and college pathways innovation challenge program 24
account, the community and technical college innovation account, the 25
agricultural local fund, the American Indian scholarship endowment 26
fund, the behavioral health loan repayment and scholarship program 27
account, the Billy Frank Jr. national statuary hall collection fund, 28
the foster care scholarship endowment fund, the foster care endowed 29
scholarship trust fund, the contract harvesting revolving account, 30
the Washington state combined fund drive account, ((the commemorative 31
works account, )) the county 911 excise tax account, the county road 32
administration board emergency loan account, the toll collection 33
account, the developmental disabilities endowment trust fund, the 34
energy account, the energy facility site evaluation council account, 35
the fair fund, the family and medical leave insurance account, the 36
Fern Lodge maintenance account, the fish and wildlife federal lands 37
revolving account, the natural resources federal lands revolving 38
account, the food animal veterinarian conditional scholarship 39
account, the forest health revolving account, the fruit and vegetable 40
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inspection account, the educator conditional scholarship account, the 1
game farm alternative account, the GET ready for math and science 2
scholarship account, the Washington global health technologies and 3
product development account, the grain inspection revolving fund, the 4
Washington history day account, the industrial insurance rainy day 5
fund, ((the juvenile accountability incentive account, )) the law 6
enforcement officers' and firefighters' plan 2 expense fund, the 7
local tourism promotion account, the low-income home rehabilitation 8
account, the medication for people living with HIV rebate revenue 9
account, the homeowner recovery account, the multiagency permitting 10
team account, the northeast Washington wolf-livestock management 11
account, the pollution liability insurance program trust account, 12
((the produce railcar pool account, )) the public use general aviation 13
airport loan revolving account, the regional transportation 14
investment district account, the rural rehabilitation account, the 15
Washington sexual assault kit account, the stadium and exhibition 16
center account, the youth athletic facility account, the self-17
insurance revolving fund, the children's trust fund, the Washington 18
horse racing commission Washington bred owners' bonus fund and 19
breeder awards account, the Washington horse racing commission class 20
C purse fund account, the individual development account program 21
account, the Washington horse racing commission operating account, 22
the life sciences discovery fund, the Washington state library-23
archives building account, the reduced cigarette ignition propensity 24
account, the center for deaf and hard of hearing youth account, the 25
school for the blind account, ((the Millersylvania park trust fund, )) 26
the public employees' and retirees' insurance reserve fund, the 27
school employees' benefits board insurance reserve fund, the public 28
employees' and retirees' insurance account, the school employees' 29
insurance account, the long-term services and supports trust account, 30
the radiation perpetual maintenance fund, the Indian health 31
improvement reinvestment account, the department of licensing tuition 32
recovery trust fund, the student achievement council tuition recovery 33
trust fund, the tuition recovery trust fund, the industrial insurance 34
premium refund account, the mobile home park relocation fund, the 35
natural resources deposit fund, the Washington state health insurance 36
pool account, the federal forest revolving account, the Washington 37
saves administrative treasury trust account, and the library 38
operations account. 39
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(c) The following accounts and funds must receive 80 percent of 1
their proportionate share of earnings based upon each account's or 2
fund's average daily balance for the period: The advance right-of-way 3
revolving fund, the advanced environmental mitigation revolving 4
account, the federal narcotics asset forfeitures account, the high 5
occupancy vehicle account, the local rail service assistance account, 6
and the miscellaneous transportation programs account.7
(d) Any state agency that has independent authority over accounts 8
or funds not statutorily required to be held in the custody of the 9
state treasurer that deposits funds into a fund or account in the 10
custody of the state treasurer pursuant to an agreement with the 11
office of the state treasurer shall receive its proportionate share 12
of earnings based upon each account's or fund's average daily balance 13
for the period. 14
(5) In conformance with Article II, section 37 of the state 15
Constitution, no trust accounts or funds shall be allocated earnings 16
without the specific affirmative directive of this section.17
Sec. 9. RCW 43.79A.040 and 2024 c 327 s 17 and 2024 c 168 s 11 18
are each reenacted and amended to read as follows:19
(1) Money in the treasurer's trust fund may be deposited, 20
invested, and reinvested by the state treasurer in accordance with 21
RCW 43.84.080 in the same manner and to the same extent as if the 22
money were in the state treasury, and may be commingled with moneys 23
in the state treasury for cash management and cash balance purposes.24
(2) All income received from investment of the treasurer's trust 25
fund must be set aside in an account in the treasury trust fund to be 26
known as the investment income account. 27
(3) The investment income account may be utilized for the payment 28
of purchased banking services on behalf of treasurer's trust funds 29
including, but not limited to, depository, safekeeping, and 30
disbursement functions for the state treasurer or affected state 31
agencies. The investment income account is subject in all respects to 32
chapter 43.88 RCW, but no appropriation is required for payments to 33
financial institutions. Payments must occur prior to distribution of 34
earnings set forth in subsection (4) of this section.35
(4)(a) Monthly, the state treasurer must distribute the earnings 36
credited to the investment income account to the state general fund 37
except under (b), (c), and (d) of this subsection.38
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(b) The following accounts and funds must receive their 1
proportionate share of earnings based upon each account's or fund's 2
average daily balance for the period: The 24/7 sobriety account, the 3
Washington promise scholarship account, the Gina Grant Bull memorial 4
legislative page scholarship account, the Rosa Franklin legislative 5
internship program scholarship account, the Washington advanced 6
college tuition payment program account, the Washington college 7
savings program account, the accessible communities account, the 8
Washington achieving a better life experience program account, the 9
Washington career and college pathways innovation challenge program 10
account, the community and technical college innovation account, the 11
agricultural local fund, the American Indian scholarship endowment 12
fund, the behavioral health loan repayment and scholarship program 13
account, the Billy Frank Jr. national statuary hall collection fund, 14
the foster care scholarship endowment fund, the foster care endowed 15
scholarship trust fund, the contract harvesting revolving account, 16
the Washington state combined fund drive account, ((the commemorative 17
works account, )) the county 911 excise tax account, the county road 18
administration board emergency loan account, the toll collection 19
account, the developmental disabilities endowment trust fund, the 20
energy account, the energy facility site evaluation council account, 21
the fair fund, the family and medical leave insurance account, the 22
Fern Lodge maintenance account, the fish and wildlife federal lands 23
revolving account, the natural resources federal lands revolving 24
account, the food animal veterinarian conditional scholarship 25
account, the forest health revolving account, the fruit and vegetable 26
inspection account, the educator conditional scholarship account, the 27
game farm alternative account, the GET ready for math and science 28
scholarship account, the Washington global health technologies and 29
product development account, the grain inspection revolving fund, the 30
Washington history day account, the industrial insurance rainy day 31
fund, ((the juvenile accountability incentive account, )) the law 32
enforcement officers' and firefighters' plan 2 expense fund, the 33
local tourism promotion account, the low-income home rehabilitation 34
account, the medication for people living with HIV rebate revenue 35
account, the homeowner recovery account, the multiagency permitting 36
team account, the northeast Washington wolf-livestock management 37
account, ((the produce railcar pool account, )) the public use general 38
aviation airport loan revolving account, the regional transportation 39
investment district account, the rural rehabilitation account, the 40
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Washington sexual assault kit account, the stadium and exhibition 1
center account, the youth athletic facility account, the self-2
insurance revolving fund, the children's trust fund, the Washington 3
horse racing commission Washington bred owners' bonus fund and 4
breeder awards account, the Washington horse racing commission class 5
C purse fund account, the individual development account program 6
account, the Washington horse racing commission operating account, 7
the life sciences discovery fund, the Washington state library-8
archives building account, the reduced cigarette ignition propensity 9
account, the center for deaf and hard of hearing youth account, the 10
school for the blind account, ((the Millersylvania park trust fund, )) 11
the public employees' and retirees' insurance reserve fund, the 12
school employees' benefits board insurance reserve fund, the public 13
employees' and retirees' insurance account, the school employees' 14
insurance account, the long-term services and supports trust account, 15
the radiation perpetual maintenance fund, the Indian health 16
improvement reinvestment account, the department of licensing tuition 17
recovery trust fund, the student achievement council tuition recovery 18
trust fund, the tuition recovery trust fund, the industrial insurance 19
premium refund account, the mobile home park relocation fund, the 20
natural resources deposit fund, the Washington state health insurance 21
pool account, the federal forest revolving account, the Washington 22
saves administrative treasury trust account, and the library 23
operations account. 24
(c) The following accounts and funds must receive 80 percent of 25
their proportionate share of earnings based upon each account's or 26
fund's average daily balance for the period: The advance right-of-way 27
revolving fund, the advanced environmental mitigation revolving 28
account, the federal narcotics asset forfeitures account, the high 29
occupancy vehicle account, the local rail service assistance account, 30
and the miscellaneous transportation programs account.31
(d) Any state agency that has independent authority over accounts 32
or funds not statutorily required to be held in the custody of the 33
state treasurer that deposits funds into a fund or account in the 34
custody of the state treasurer pursuant to an agreement with the 35
office of the state treasurer shall receive its proportionate share 36
of earnings based upon each account's or fund's average daily balance 37
for the period. 38
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(5) In conformance with Article II, section 37 of the state 1
Constitution, no trust accounts or funds shall be allocated earnings 2
without the specific affirmative directive of this section.3
Sec. 10. RCW 43.84.092 and 2024 c 210 s 4 and 2024 c 168 s 12 4
are each reenacted and amended to read as follows: 5
(1) All earnings of investments of surplus balances in the state 6
treasury shall be deposited to the treasury income account, which 7
account is hereby established in the state treasury.8
(2) The treasury income account shall be utilized to pay or 9
receive funds associated with federal programs as required by the 10
federal cash management improvement act of 1990. The treasury income 11
account is subject in all respects to chapter 43.88 RCW, but no 12
appropriation is required for refunds or allocations of interest 13
earnings required by the cash management improvement act. Refunds of 14
interest to the federal treasury required under the cash management 15
improvement act fall under RCW 43.88.180 and shall not require 16
appropriation. The office of financial management shall determine the 17
amounts due to or from the federal government pursuant to the cash 18
management improvement act. The office of financial management may 19
direct transfers of funds between accounts as deemed necessary to 20
implement the provisions of the cash management improvement act, and 21
this subsection. Refunds or allocations shall occur prior to the 22
distributions of earnings set forth in subsection (4) of this 23
section. 24
(3) Except for the provisions of RCW 43.84.160, the treasury 25
income account may be utilized for the payment of purchased banking 26
services on behalf of treasury funds including, but not limited to, 27
depository, safekeeping, and disbursement functions for the state 28
treasury and affected state agencies. The treasury income account is 29
subject in all respects to chapter 43.88 RCW, but no appropriation is 30
required for payments to financial institutions. Payments shall occur 31
prior to distribution of earnings set forth in subsection (4) of this 32
section. 33
(4) Monthly, the state treasurer shall distribute the earnings 34
credited to the treasury income account. The state treasurer shall 35
credit the general fund with all the earnings credited to the 36
treasury income account except: 37
(a) The following accounts and funds shall receive their 38
proportionate share of earnings based upon each account's and fund's 39
p. 16 SB 5441
average daily balance for the period: The abandoned recreational 1
vehicle disposal account, the aeronautics account, the Alaskan Way 2
viaduct replacement project account, the ambulance transport fund, 3
the budget stabilization account, the capital vessel replacement 4
account, the capitol building construction account, the Central 5
Washington University capital projects account, the charitable, 6
educational, penal and reformatory institutions account, the Chehalis 7
basin account, the Chehalis basin taxable account, the clean fuels 8
credit account, the clean fuels transportation investment account, 9
the cleanup settlement account, the climate active transportation 10
account, the climate transit programs account, the Columbia river 11
basin water supply development account, the Columbia river basin 12
taxable bond water supply development account, the Columbia river 13
basin water supply revenue recovery account, the common school 14
construction fund, the community forest trust account, the connecting 15
Washington account, the county arterial preservation account, the 16
county criminal justice assistance account, the covenant 17
homeownership account, the deferred compensation administrative 18
account, the deferred compensation principal account, the department 19
of licensing services account, the department of retirement systems 20
expense account, the developmental disabilities community services 21
account, the diesel idle reduction account, the opioid abatement 22
settlement account, the drinking water assistance account, the 23
administrative subaccount of the drinking water assistance account, 24
the early learning facilities development account, the early learning 25
facilities revolving account, the Eastern Washington University 26
capital projects account, ((the education construction fund, )) the 27
education legacy trust account, the election account, the electric 28
vehicle account, the energy freedom account, the energy recovery act 29
account, the essential rail assistance account, The Evergreen State 30
College capital projects account, the fair start for kids account, 31
the family medicine workforce development account, the ferry bond 32
retirement fund, the fish, wildlife, and conservation account, the 33
freight mobility investment account, the freight mobility multimodal 34
account, the grade crossing protective fund, the higher education 35
retirement plan supplemental benefit fund, the Washington student 36
loan account, the highway bond retirement fund, the highway 37
infrastructure account, the highway safety fund, the hospital safety 38
net assessment fund, the Interstate 5 bridge replacement project 39
account, the Interstate 405 and state route number 167 express toll 40
p. 17 SB 5441
lanes account, the judges' retirement account, the judicial 1
retirement administrative account, the judicial retirement principal 2
account, the limited fish and wildlife account, the local leasehold 3
excise tax account, the local real estate excise tax account, the 4
local sales and use tax account, the marine resources stewardship 5
trust account, the medical aid account, the money-purchase retirement 6
savings administrative account, the money-purchase retirement savings 7
principal account, the motor vehicle fund, the motorcycle safety 8
education account, the move ahead WA account, the move ahead WA 9
flexible account, the multimodal transportation account, the multiuse 10
roadway safety account, the municipal criminal justice assistance 11
account, the oyster reserve land account, the pension funding 12
stabilization account, the perpetual surveillance and maintenance 13
account, the pilotage account, the pollution liability insurance 14
agency underground storage tank revolving account, the public 15
employees' retirement system plan 1 account, the public employees' 16
retirement system combined plan 2 and plan 3 account, the public 17
facilities construction loan revolving account, the public health 18
supplemental account, the public works assistance account, the Puget 19
Sound capital construction account, the Puget Sound ferry operations 20
account, the Puget Sound Gateway facility account, the Puget Sound 21
taxpayer accountability account, the real estate appraiser commission 22
account, the recreational vehicle account, the regional mobility 23
grant program account, the reserve officers' relief and pension 24
principal fund, the resource management cost account, the rural 25
arterial trust account, the rural mobility grant program account, the 26
rural Washington loan fund, the second injury fund, the sexual 27
assault prevention and response account, the site closure account, 28
the skilled nursing facility safety net trust fund, the small city 29
pavement and sidewalk account, the special category C account, the 30
special wildlife account, the state hazard mitigation revolving loan 31
account, the state investment board expense account, the state 32
investment board commingled trust fund accounts, the state patrol 33
highway account, the state reclamation revolving account, the state 34
route number 520 civil penalties account, the state route number 520 35
corridor account, the statewide broadband account, the statewide 36
tourism marketing account, the supplemental pension account, the 37
Tacoma Narrows toll bridge account, the teachers' retirement system 38
plan 1 account, the teachers' retirement system combined plan 2 and 39
plan 3 account, the tobacco prevention and control account, the 40
p. 18 SB 5441
tobacco settlement account, the toll facility bond retirement 1
account, the transportation 2003 account (nickel account), the 2
transportation equipment fund, the JUDY transportation future funding 3
program account, the transportation improvement account, the 4
transportation improvement board bond retirement account, the 5
transportation infrastructure account, the transportation partnership 6
account, the traumatic brain injury account, the tribal opioid 7
prevention and treatment account, the University of Washington bond 8
retirement fund, the University of Washington building account, the 9
voluntary cleanup account, the volunteer firefighters' relief and 10
pension principal fund, the volunteer firefighters' and reserve 11
officers' administrative fund, the vulnerable roadway user education 12
account, the Washington judicial retirement system account, the 13
Washington law enforcement officers' and firefighters' system plan 1 14
retirement account, the Washington law enforcement officers' and 15
firefighters' system plan 2 retirement account, the Washington public 16
safety employees' plan 2 retirement account, the Washington school 17
employees' retirement system combined plan 2 and 3 account, the 18
Washington state patrol retirement account, the Washington State 19
University building account, the Washington State University bond 20
retirement fund, the water pollution control revolving administration 21
account, the water pollution control revolving fund, the Western 22
Washington University capital projects account, the Yakima integrated 23
plan implementation account, the Yakima integrated plan 24
implementation revenue recovery account, and the Yakima integrated 25
plan implementation taxable bond account. Earnings derived from 26
investing balances of the agricultural permanent fund, the normal 27
school permanent fund, the permanent common school fund, the 28
scientific permanent fund, and the state university permanent fund 29
shall be allocated to their respective beneficiary accounts.30
(b) Any state agency that has independent authority over accounts 31
or funds not statutorily required to be held in the state treasury 32
that deposits funds into a fund or account in the state treasury 33
pursuant to an agreement with the office of the state treasurer shall 34
receive its proportionate share of earnings based upon each account's 35
or fund's average daily balance for the period. 36
(5) In conformance with Article II, section 37 of the state 37
Constitution, no treasury accounts or funds shall be allocated 38
earnings without the specific affirmative directive of this section.39
p. 19 SB 5441
Sec. 11. RCW 43.84.092 and 2024 c 210 s 5 and 2024 c 168 s 13 1
are each reenacted and amended to read as follows: 2
(1) All earnings of investments of surplus balances in the state 3
treasury shall be deposited to the treasury income account, which 4
account is hereby established in the state treasury.5
(2) The treasury income account shall be utilized to pay or 6
receive funds associated with federal programs as required by the 7
federal cash management improvement act of 1990. The treasury income 8
account is subject in all respects to chapter 43.88 RCW, but no 9
appropriation is required for refunds or allocations of interest 10
earnings required by the cash management improvement act. Refunds of 11
interest to the federal treasury required under the cash management 12
improvement act fall under RCW 43.88.180 and shall not require 13
appropriation. The office of financial management shall determine the 14
amounts due to or from the federal government pursuant to the cash 15
management improvement act. The office of financial management may 16
direct transfers of funds between accounts as deemed necessary to 17
implement the provisions of the cash management improvement act, and 18
this subsection. Refunds or allocations shall occur prior to the 19
distributions of earnings set forth in subsection (4) of this 20
section. 21
(3) Except for the provisions of RCW 43.84.160, the treasury 22
income account may be utilized for the payment of purchased banking 23
services on behalf of treasury funds including, but not limited to, 24
depository, safekeeping, and disbursement functions for the state 25
treasury and affected state agencies. The treasury income account is 26
subject in all respects to chapter 43.88 RCW, but no appropriation is 27
required for payments to financial institutions. Payments shall occur 28
prior to distribution of earnings set forth in subsection (4) of this 29
section. 30
(4) Monthly, the state treasurer shall distribute the earnings 31
credited to the treasury income account. The state treasurer shall 32
credit the general fund with all the earnings credited to the 33
treasury income account except: 34
(a) The following accounts and funds shall receive their 35
proportionate share of earnings based upon each account's and fund's 36
average daily balance for the period: The abandoned recreational 37
vehicle disposal account, the aeronautics account, the Alaskan Way 38
viaduct replacement project account, the budget stabilization 39
account, the capital vessel replacement account, the capitol building 40
p. 20 SB 5441
construction account, the Central Washington University capital 1
projects account, the charitable, educational, penal and reformatory 2
institutions account, the Chehalis basin account, the Chehalis basin 3
taxable account, the clean fuels credit account, the clean fuels 4
transportation investment account, the cleanup settlement account, 5
the climate active transportation account, the climate transit 6
programs account, the Columbia river basin water supply development 7
account, the Columbia river basin taxable bond water supply 8
development account, the Columbia river basin water supply revenue 9
recovery account, the common school construction fund, the community 10
forest trust account, the connecting Washington account, the county 11
arterial preservation account, the county criminal justice assistance 12
account, the covenant homeownership account, the deferred 13
compensation administrative account, the deferred compensation 14
principal account, the department of licensing services account, the 15
department of retirement systems expense account, the developmental 16
disabilities community services account, the diesel idle reduction 17
account, the opioid abatement settlement account, the drinking water 18
assistance account, the administrative subaccount of the drinking 19
water assistance account, the early learning facilities development 20
account, the early learning facilities revolving account, the Eastern 21
Washington University capital projects account, ((the education 22
construction fund,)) the education legacy trust account, the election 23
account, the electric vehicle account, the energy freedom account, 24
the energy recovery act account, the essential rail assistance 25
account, The Evergreen State College capital projects account, the 26
fair start for kids account, the family medicine workforce 27
development account, the ferry bond retirement fund, the fish, 28
wildlife, and conservation account, the freight mobility investment 29
account, the freight mobility multimodal account, the grade crossing 30
protective fund, the higher education retirement plan supplemental 31
benefit fund, the Washington student loan account, the highway bond 32
retirement fund, the highway infrastructure account, the highway 33
safety fund, the hospital safety net assessment fund, the Interstate 34
5 bridge replacement project account, the Interstate 405 and state 35
route 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. 21 SB 5441
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 public employees' retirement system plan 1 11
account, the public employees' retirement system combined plan 2 and 12
plan 3 account, the public facilities construction loan revolving 13
account, the public health supplemental account, the public works 14
assistance account, the Puget Sound capital construction account, the 15
Puget Sound ferry operations account, the Puget Sound Gateway 16
facility account, the Puget Sound taxpayer accountability account, 17
the real estate appraiser commission account, the recreational 18
vehicle account, the regional mobility grant program account, the 19
reserve officers' relief and pension principal fund, the resource 20
management cost account, the rural arterial trust account, the rural 21
mobility grant program account, the rural Washington loan fund, the 22
second injury fund, the sexual assault prevention and response 23
account, the site closure account, the skilled nursing facility 24
safety net trust fund, the small city pavement and sidewalk account, 25
the special category C account, the special wildlife account, the 26
state hazard mitigation revolving loan account, the state investment 27
board expense account, the state investment board commingled trust 28
fund accounts, the state patrol highway account, the state 29
reclamation revolving account, the state route number 520 civil 30
penalties account, the state route number 520 corridor account, the 31
statewide broadband account, the statewide tourism marketing account, 32
the supplemental pension account, the Tacoma Narrows toll bridge 33
account, the teachers' retirement system plan 1 account, the 34
teachers' retirement system combined plan 2 and plan 3 account, the 35
tobacco prevention and control account, the tobacco settlement 36
account, the toll facility bond retirement account, the 37
transportation 2003 account (nickel account), the transportation 38
equipment fund, the JUDY transportation future funding program 39
account, the transportation improvement account, the transportation 40
p. 22 SB 5441
improvement board bond retirement account, the transportation 1
infrastructure account, the transportation partnership account, the 2
traumatic brain injury account, the tribal opioid prevention and 3
treatment account, the University of Washington bond retirement fund, 4
the University of Washington building account, the voluntary cleanup 5
account, the volunteer firefighters' relief and pension principal 6
fund, the volunteer firefighters' and reserve officers' 7
administrative fund, the vulnerable roadway user education account, 8
the Washington judicial retirement system account, the Washington law 9
enforcement officers' and firefighters' system plan 1 retirement 10
account, the Washington law enforcement officers' and firefighters' 11
system plan 2 retirement account, the Washington public safety 12
employees' plan 2 retirement account, the Washington school 13
employees' retirement system combined plan 2 and 3 account, the 14
Washington state patrol retirement account, the Washington State 15
University building account, the Washington State University bond 16
retirement fund, the water pollution control revolving administration 17
account, the water pollution control revolving fund, the Western 18
Washington University capital projects account, the Yakima integrated 19
plan implementation account, the Yakima integrated plan 20
implementation revenue recovery account, and the Yakima integrated 21
plan implementation taxable bond account. Earnings derived from 22
investing balances of the agricultural permanent fund, the normal 23
school permanent fund, the permanent common school fund, the 24
scientific permanent fund, and the state university permanent fund 25
shall be allocated to their respective beneficiary accounts.26
(b) Any state agency that has independent authority over accounts 27
or funds not statutorily required to be held in the state treasury 28
that deposits funds into a fund or account in the state treasury 29
pursuant to an agreement with the office of the state treasurer shall 30
receive its proportionate share of earnings based upon each account's 31
or fund's average daily balance for the period. 32
(5) In conformance with Article II, section 37 of the state 33
Constitution, no treasury accounts or funds shall be allocated 34
earnings without the specific affirmative directive of this section.35
NEW SECTION. Sec. 12. Any residual balance of funds remaining 36
in any account abolished in this act on June 30, 2025, shall be 37
transferred by the state treasurer to the state general fund except 38
for the following accounts:39
p. 23 SB 5441
(1) Any residual balance of funds remaining in the produce 1
railcar pool account on June 30, 2025, shall be transferred by the 2
state treasurer to the multimodal transportation account.3
(2) Any residual balance of funds remaining in the commemorative 4
works account on June 30, 2025, shall be transferred by the state 5
treasurer to the enterprise services account. 6
(3) Any residual balance of funds remaining in the Millersylvania 7
park trust fund on June 30, 2025, shall be transferred by the state 8
treasurer to the Millersylvania park current account.9
(4) Any residual balance of funds remaining in the education 10
construction fund on June 30, 2025, shall be transferred by the state 11
treasurer to the common school construction fund. 12
(5) Any residual balance of funds remaining in the opportunity 13
express account on June 30, 2025, shall be transferred by the state 14
treasurer to the employment service administration account.15
NEW SECTION. Sec. 13. (1) Section 8 of this act expires July 1, 16
2030.17
(2) Section 10 of this act expires July 1, 2028.18
NEW SECTION. Sec. 14. (1) Section 9 of this act takes effect 19
July 1, 2030. 20
(1) Section 11 of this act takes effect July 1, 2028.21
NEW SECTION. Sec. 15. (1) Sections 1, 2, 3, 6, 7, 8, 10, and 12 22
of this act are necessary for the immediate preservation of the 23
public peace, health, or safety, or support of the state government 24
and its existing public institutions, and take effect June 30, 2025.25
(2) Section 4 of this act is necessary for the immediate 26
preservation of the public peace, health, or safety, or support of 27
the state government and its existing public institutions, and takes 28
effect immediately. 29
--- END ---
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