Transportation funding bonds

AN ACT Relating to authorizing bonds for transportation funding; 1
amending RCW 47.10.879; reenacting and amending RCW 43.84.092, 2
43.84.092, 43.84.092, 43.84.092, 43.84.092, and 43.84.092; adding a 3
new section to chapter 46.68 RCW; adding new sections to chapter 4
47.10 RCW; creating a new section; providing effective dates; 5
providing a contingent effective date; providing expiration dates; 6
providing contingent expiration dates; and declaring an emergency.7
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:8
NEW SECTION. Sec. 1. The legislature finds that it is necessary 9
to provide a stable and dedicated source of funding for the 10
preservation of the state's roads and transportation infrastructure 11
to ensure the continued safety, functionality, and reliability of the 12
transportation system.13
The legislature intends that the proceeds of the sale of bonds in 14
this act be used exclusively for the preservation of existing 15
transportation facilities, including activities necessary to protect 16
the state's investment in highway assets, extend the useful life of 17
transportation structures, and maintain mobility for people and goods 18
throughout the state of Washington. 19
Z-0598.1
SENATE BILL 6225
State of Washington 69th Legislature 2026 Regular Session
By Senators Liias and King; by request of Office of Financial
Management
p. 1 SB 6225
NEW SECTION. Sec. 2. In order to provide funds necessary for 1
the location, design, right-of-way, and construction of highway 2
preservation projects or improvements and ferry vessel construction, 3
there shall be issued and sold upon the request of the department of 4
transportation a total of $3,400,000,000 of general obligation bonds 5
of the state of Washington.6
NEW SECTION. Sec. 3. Upon the request of the department of 7
transportation, as appropriate, the state finance committee shall 8
supervise and provide for the issuance, sale, and retirement of the 9
bonds in this act in accordance with chapter 39.42 RCW. Bonds 10
authorized by this act shall be sold in the manner, at time or times, 11
in amounts, and at the price as the state finance committee shall 12
determine. No bonds may be offered for sale without prior legislative 13
appropriation of the net proceeds of the sale of the bonds.14
The state finance committee shall consider the issuance of short-15
term obligations in lieu of long-term obligations for the purposes of 16
more favorable interest rates, lower total interest costs, and 17
increased marketability and for the purpose of retiring the bonds 18
during the life of the project for which they were issued.19
NEW SECTION. Sec. 4. The proceeds from the sale of bonds 20
authorized by section 2 of this act shall be deposited in the 21
preserve Washington account created in section 10 of this act. The 22
proceeds shall be available only for the purposes enumerated in 23
section 2 of this act, for the payment of bond anticipation notes, if 24
any, and for the payment of bond issuance costs, including the costs 25
of underwriting.26
NEW SECTION. Sec. 5. Bonds issued under the authority of this 27
section and sections 2 through 4, 6, and 7 of this act shall 28
distinctly state that they are a general obligation of the state of 29
Washington, shall pledge the full faith and credit of the state to 30
the payment of the principal thereof and the interest thereon, and 31
shall contain an unconditional promise to pay such principal and 32
interest as the same shall become due. The principal and interest on 33
the bonds shall be first payable in the manner provided in this 34
section and sections 2 through 4, 6, and 7 of this act from the 35
proceeds of the state excise taxes on fuel imposed by chapter 82.38 36
RCW and vehicle-related fees imposed under Title 46 RCW that 37
p. 2 SB 6225
constitute license fees for motor vehicles required to be used for 1
highway purposes. Proceeds of these excise taxes and vehicle-related 2
fees are hereby pledged to the payment of any bonds and the interest 3
thereon issued under the authority of this section and sections 2 4
through 4, 6, and 7 of this act, and the legislature agrees to 5
continue to impose these excise taxes on fuel and vehicle-related 6
fees in amounts from such sources sufficient to pay, when due, the 7
principal and interest on all bonds issued under the authority of 8
this section and sections 2 through 4, 6, and 7 of this act.9
NEW SECTION. Sec. 6. (1) Both principal and interest on the 10
bonds issued for the purposes of this section and sections 2 through 11
5 and 7 of this act shall be payable from the highway bond retirement 12
fund. The state finance committee may provide that a special account 13
be created in the fund to facilitate payment of the principal and 14
interest. The state finance committee shall, on or before June 30th 15
of each year, certify to the state treasurer the amount required for 16
principal and interest on the bonds in accordance with the bond 17
proceedings. The state treasurer shall withdraw revenues from the 18
motor vehicle fund and deposit in the highway bond retirement fund, 19
or a special account in the fund, such amounts, and at such times, as 20
are required by the bond proceedings.21
(2)(a) Any funds required for bond retirement or interest on the 22
bonds authorized by this section and sections 2 through 5 and 7 of 23
this act shall be taken from that portion of the motor vehicle fund 24
that results from the imposition of excise taxes on fuel and vehicle-25
related fees. 26
(b) Funds required shall never constitute a charge against any 27
other allocations of fuel tax and vehicle-related fee revenues to the 28
state, counties, cities, and towns unless the amount arising from 29
excise taxes on fuel and vehicle-related fees distributed to the 30
motor vehicle fund described in (a) of this subsection proves 31
insufficient to meet the requirements for bond retirement or interest 32
on any such bonds. 33
(c) Any payments for bond retirement or interest on the bonds 34
taken from other revenues from the fuel taxes and vehicle-related 35
fees that are distributable to the state, counties, cities, and towns 36
shall be repaid from the first revenues from the fuel taxes and 37
vehicle-related fees distributed to the motor vehicle fund described 38
p. 3 SB 6225
in (a) of this subsection not required for bond retirement or 1
interest on the bonds. 2
NEW SECTION. Sec. 7. Bonds issued under the authority of this 3
section and sections 2 through 6 of this act and any other general 4
obligation bonds of the state of Washington that have been or that 5
may be authorized and that pledge fuel excise taxes and vehicle-6
related fees for the payment of principal and interest thereon shall 7
be an equal charge against the revenues from such fuel excise taxes 8
and vehicle-related fees.9
NEW SECTION. Sec. 8. For purposes of sections 2 through 7 of 10
this act, "vehicle-related fees" means vehicle-related fees imposed 11
under Title 46 RCW that constitute license fees for motor vehicles 12
required to be used for highway purposes.13
Sec. 9. RCW 47.10.879 and 2009 c 498 s 8 are each amended to 14
read as follows: 15
In order to provide funds necessary for the location, design, 16
right-of-way, and construction of the state route number 520 corridor 17
projects, as allowed in section 2, chapter 472, Laws of 2009, there 18
shall be issued and sold upon the request of the department of 19
transportation a total of ((one billion nine hundred fifty million 20
dollars)) $2,450,000,000 of general obligation bonds of the state of 21
Washington first payable from toll revenue and excise taxes on motor 22
vehicle and special fuels in accordance with RCW 47.10.883.23
NEW SECTION. Sec. 10. A new section is added to chapter 46.68 24
RCW to read as follows: 25
The preserve Washington account is created in the motor vehicle 26
fund. Moneys in the account may be spent only after appropriation. 27
Expenditures from the account must be used only for the purposes 28
identified in section 1 of this act. 29
Sec. 11. RCW 43.84.092 and 2025 c 417 s 802, 2025 c 399 s 15, 30
2025 c 359 s 12, and 2025 c 299 s 21 are each reenacted and amended 31
to read as follows: 32
(1) All earnings of investments of surplus balances in the state 33
treasury shall be deposited to the treasury income account, which 34
account is hereby established in the state treasury.35
p. 4 SB 6225
(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 ambulance transport fund, 34
the budget stabilization account, the capital vessel replacement 35
account, the capitol building construction account, the Central 36
Washington University capital projects account, the charitable, 37
educational, penal and reformatory institutions account, the Chehalis 38
basin account, the Chehalis basin taxable account, the clean fuels 39
credit account, the clean fuels transportation investment account, 40
p. 5 SB 6225
the cleanup settlement account, the Columbia river basin water supply 1
development account, the Columbia river basin taxable bond water 2
supply development account, the Columbia river basin water supply 3
revenue recovery account, the common school construction fund, the 4
community forest trust account, the connecting Washington account, 5
the county arterial preservation account, the county criminal justice 6
assistance account, the covenant homeownership account, the deferred 7
compensation administrative account, the deferred compensation 8
principal account, the department of licensing services account, the 9
department of retirement systems expense account, the developmental 10
disabilities community services account, the diesel idle reduction 11
account, the opioid abatement settlement account, the drinking water 12
assistance account, the administrative subaccount of the drinking 13
water assistance account, the driver education safety improvement 14
account, the early learning facilities development account, the early 15
learning facilities revolving account, the Eastern Washington 16
University capital projects account, the education legacy trust 17
account, the election account, the electric vehicle account, the 18
energy freedom account, the energy recovery act account, the 19
essential rail assistance account, The Evergreen State College 20
capital projects account, the fair start for kids account, the family 21
medicine workforce development account, the ferry bond retirement 22
fund, the fish, wildlife, and conservation account, the freight 23
mobility investment account, the freight mobility multimodal account, 24
the grade crossing protective fund, the higher education retirement 25
plan supplemental benefit fund, the Washington student loan account, 26
the highway bond retirement fund, the highway infrastructure account, 27
the highway safety fund, the hospital safety net assessment fund, the 28
Interstate 5 bridge replacement project account, the Interstate 405 29
and state route number 167 express toll lanes account, the judges' 30
retirement account, the judicial retirement administrative account, 31
the judicial retirement principal account, the limited fish and 32
wildlife account, the local leasehold excise tax account, the local 33
real estate excise tax account, the local sales and use tax account, 34
the marine resources stewardship trust account, the medical aid 35
account, the money-purchase retirement savings administrative 36
account, the money-purchase retirement savings principal account, the 37
motor vehicle fund, the motorcycle safety education account, the move 38
ahead WA account, the move ahead WA flexible account, the multimodal 39
transportation account, the multiuse roadway safety account, the 40
p. 6 SB 6225
municipal criminal justice assistance account, the oyster reserve 1
land account, the pension funding stabilization account, the 2
perpetual surveillance and maintenance account, the pilotage account, 3
the pollution liability insurance agency underground storage tank 4
revolving account, the medicaid access program account, the preserve 5
Washington account, the public employees' retirement system plan 1 6
account, the public employees' retirement system combined plan 2 and 7
plan 3 account, the public facilities construction loan revolving 8
account, the public health supplemental account, the public works 9
assistance account, the Puget Sound capital construction account, the 10
Puget Sound ferry operations account, the Puget Sound Gateway 11
facility account, the Puget Sound taxpayer accountability account, 12
the real estate appraiser commission account, the recreational 13
vehicle account, the regional mobility grant program account, the 14
reserve officers' relief and pension principal fund, the resource 15
management cost account, the rural arterial trust account, the rural 16
mobility grant program account, the rural Washington loan fund, the 17
second injury fund, the sexual assault prevention and response 18
account, the site closure account, the skilled nursing facility 19
safety net trust fund, the small city pavement and sidewalk account, 20
the special category C account, the special wildlife account, the 21
state hazard mitigation revolving loan account, the state investment 22
board expense account, the state investment board commingled trust 23
fund accounts, the state patrol highway account, the state 24
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. 7 SB 6225
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. 12. RCW 43.84.092 and 2025 c 417 s 802, 2025 c 399 s 15, 31
and 2025 c 299 s 21 are each reenacted and amended to read as 32
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. 8 SB 6225
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 ambulance transport fund, 31
the budget stabilization account, the capital vessel replacement 32
account, the capitol building construction account, the Central 33
Washington University capital projects account, the charitable, 34
educational, penal and reformatory institutions account, the Chehalis 35
basin account, the Chehalis basin taxable account, the clean fuels 36
credit account, the clean fuels transportation investment account, 37
the cleanup settlement account, the Columbia river basin water supply 38
development account, the Columbia river basin taxable bond water 39
supply development account, the Columbia river basin water supply 40
p. 9 SB 6225
revenue recovery account, the common school construction fund, the 1
community forest trust account, the connecting Washington account, 2
the county arterial preservation account, the county criminal justice 3
assistance account, the covenant homeownership account, the deferred 4
compensation administrative account, the deferred compensation 5
principal account, the department of licensing services account, the 6
department of retirement systems expense account, the developmental 7
disabilities community services account, the diesel idle reduction 8
account, the opioid abatement settlement account, the drinking water 9
assistance account, the administrative subaccount of the drinking 10
water assistance account, the driver education safety improvement 11
account, the early learning facilities development account, the early 12
learning facilities revolving account, the Eastern Washington 13
University capital projects account, the education legacy trust 14
account, the election account, the electric vehicle account, the 15
energy freedom account, the energy recovery act account, the 16
essential rail assistance account, The Evergreen State College 17
capital projects account, the fair start for kids account, the family 18
medicine workforce development account, the ferry bond retirement 19
fund, the fish, wildlife, and conservation account, the freight 20
mobility investment account, the freight mobility multimodal account, 21
the grade crossing protective fund, the higher education retirement 22
plan supplemental benefit fund, the Washington student loan account, 23
the highway bond retirement fund, the highway infrastructure account, 24
the highway safety fund, the hospital safety net assessment fund, the 25
Interstate 5 bridge replacement project account, the Interstate 405 26
and state route number 167 express toll lanes account, the judges' 27
retirement account, the judicial retirement administrative account, 28
the judicial retirement principal account, the limited fish and 29
wildlife account, the local leasehold excise tax account, the local 30
real estate excise tax account, the local sales and use tax account, 31
the marine resources stewardship trust account, the medical aid 32
account, the money-purchase retirement savings administrative 33
account, the money-purchase retirement savings principal account, the 34
motor vehicle fund, the motorcycle safety education account, the move 35
ahead WA account, the move ahead WA flexible account, the multimodal 36
transportation account, the multiuse roadway safety account, the 37
municipal criminal justice assistance account, the oyster reserve 38
land account, the pension funding stabilization account, the 39
perpetual surveillance and maintenance account, the pilotage account, 40
p. 10 SB 6225
the pollution liability insurance agency underground storage tank 1
revolving account, the preserve Washington 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 public health 5
supplemental account, the public works assistance account, the Puget 6
Sound capital construction account, the Puget Sound ferry operations 7
account, the Puget Sound Gateway facility account, the Puget Sound 8
taxpayer accountability account, the real estate appraiser commission 9
account, the recreational vehicle account, the regional mobility 10
grant program account, the reserve officers' relief and pension 11
principal fund, the resource management cost account, the rural 12
arterial trust account, the rural mobility grant program account, the 13
rural Washington loan fund, the second injury fund, the sexual 14
assault prevention and response account, the site closure account, 15
the skilled nursing facility safety net trust fund, the small city 16
pavement and sidewalk account, the special category C account, the 17
special wildlife account, the state hazard mitigation revolving loan 18
account, the state investment board expense account, the state 19
investment board commingled trust fund accounts, the state patrol 20
highway account, the state reclamation revolving account, the state 21
route number 520 civil penalties account, the state route number 520 22
corridor account, the statewide broadband account, the statewide 23
tourism marketing account, the supplemental pension account, the 24
Tacoma Narrows toll bridge account, the teachers' retirement system 25
plan 1 account, the teachers' retirement system combined plan 2 and 26
plan 3 account, the tobacco prevention and control account, the 27
tobacco settlement account, the toll facility bond retirement 28
account, the transportation 2003 account (nickel account), the 29
transportation equipment fund, the JUDY transportation future funding 30
program account, the transportation improvement account, the 31
transportation improvement board bond retirement account, the 32
transportation infrastructure account, the transportation partnership 33
account, the traumatic brain injury account, the tribal opioid 34
prevention and treatment account, the University of Washington bond 35
retirement fund, the University of Washington building account, the 36
voluntary cleanup account, the volunteer firefighters' relief and 37
pension principal fund, the volunteer firefighters' and reserve 38
officers' administrative fund, the vulnerable roadway user education 39
account, the Washington judicial retirement system account, the 40
p. 11 SB 6225
Washington law enforcement officers' and firefighters' system plan 1 1
retirement account, the Washington law enforcement officers' and 2
firefighters' system plan 2 retirement account, the Washington public 3
safety employees' plan 2 retirement account, the Washington school 4
employees' retirement system combined plan 2 and 3 account, the 5
Washington state patrol retirement account, the Washington State 6
University building account, the Washington State University bond 7
retirement fund, the water pollution control revolving administration 8
account, the water pollution control revolving fund, the Western 9
Washington University capital projects account, the Yakima integrated 10
plan implementation account, the Yakima integrated plan 11
implementation revenue recovery account, and the Yakima integrated 12
plan implementation taxable bond account. Earnings derived from 13
investing balances of the agricultural permanent fund, the normal 14
school permanent fund, the permanent common school fund, the 15
scientific permanent fund, and the state university permanent fund 16
shall be allocated to their respective beneficiary accounts.17
(b) Any state agency that has independent authority over accounts 18
or funds not statutorily required to be held in the state treasury 19
that deposits funds into a fund or account in the state treasury 20
pursuant to an agreement with the office of the state treasurer shall 21
receive its proportionate share of earnings based upon each account's 22
or fund's average daily balance for the period. 23
(5) In conformance with Article II, section 37 of the state 24
Constitution, no treasury accounts or funds shall be allocated 25
earnings without the specific affirmative directive of this section.26
Sec. 13. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 27
2025 c 359 s 13, and 2025 c 299 s 22 are each reenacted and amended 28
to read as follows: 29
(1) All earnings of investments of surplus balances in the state 30
treasury shall be deposited to the treasury income account, which 31
account is hereby established in the state treasury.32
(2) The treasury income account shall be utilized to pay or 33
receive funds associated with federal programs as required by the 34
federal cash management improvement act of 1990. The treasury income 35
account is subject in all respects to chapter 43.88 RCW, but no 36
appropriation is required for refunds or allocations of interest 37
earnings required by the cash management improvement act. Refunds of 38
interest to the federal treasury required under the cash management 39
p. 12 SB 6225
improvement act fall under RCW 43.88.180 and shall not require 1
appropriation. The office of financial management shall determine the 2
amounts due to or from the federal government pursuant to the cash 3
management improvement act. The office of financial management may 4
direct transfers of funds between accounts as deemed necessary to 5
implement the provisions of the cash management improvement act, and 6
this subsection. Refunds or allocations shall occur prior to the 7
distributions of earnings set forth in subsection (4) of this 8
section. 9
(3) Except for the provisions of RCW 43.84.160, the treasury 10
income account may be utilized for the payment of purchased banking 11
services on behalf of treasury funds including, but not limited to, 12
depository, safekeeping, and disbursement functions for the state 13
treasury and affected state agencies. The treasury income account is 14
subject in all respects to chapter 43.88 RCW, but no appropriation is 15
required for payments to financial institutions. Payments shall occur 16
prior to distribution of earnings set forth in subsection (4) of this 17
section. 18
(4) Monthly, the state treasurer shall distribute the earnings 19
credited to the treasury income account. The state treasurer shall 20
credit the general fund with all the earnings credited to the 21
treasury income account except: 22
(a) The following accounts and funds shall receive their 23
proportionate share of earnings based upon each account's and fund's 24
average daily balance for the period: The abandoned recreational 25
vehicle disposal account, the aeronautics account, the Alaskan Way 26
viaduct replacement project account, the budget stabilization 27
account, the capital vessel replacement account, the capitol building 28
construction account, the Central Washington University capital 29
projects account, the charitable, educational, penal and reformatory 30
institutions account, the Chehalis basin account, the Chehalis basin 31
taxable account, the clean fuels credit account, the clean fuels 32
transportation investment account, the cleanup settlement account, 33
the Columbia river basin water supply development account, the 34
Columbia river basin taxable bond water supply development account, 35
the Columbia river basin water supply revenue recovery account, the 36
common school construction fund, the community forest trust account, 37
the connecting Washington account, the county arterial preservation 38
account, the county criminal justice assistance account, the covenant 39
homeownership account, the deferred compensation administrative 40
p. 13 SB 6225
account, the deferred compensation principal account, the department 1
of licensing services account, the department of retirement systems 2
expense account, the developmental disabilities community services 3
account, the diesel idle reduction account, the opioid abatement 4
settlement account, the drinking water assistance account, the 5
administrative subaccount of the drinking water assistance account, 6
the driver education safety improvement account, the early learning 7
facilities development account, the early learning facilities 8
revolving account, the Eastern Washington University capital projects 9
account, the education legacy trust account, the election account, 10
the electric vehicle account, the energy freedom account, the energy 11
recovery act account, the essential rail assistance account, The 12
Evergreen State College capital projects account, the fair start for 13
kids account, the family medicine workforce development account, the 14
ferry bond retirement fund, the fish, wildlife, and conservation 15
account, the freight mobility investment account, the freight 16
mobility multimodal account, the grade crossing protective fund, the 17
higher education retirement plan supplemental benefit fund, the 18
Washington student loan account, the highway bond retirement fund, 19
the highway infrastructure account, the highway safety fund, the 20
hospital safety net assessment fund, the Interstate 5 bridge 21
replacement project account, the Interstate 405 and state route 22
number 167 express toll lanes account, the judges' retirement 23
account, the judicial retirement administrative account, the judicial 24
retirement principal account, the limited fish and wildlife account, 25
the local leasehold excise tax account, the local real estate excise 26
tax account, the local sales and use tax account, the marine 27
resources stewardship trust account, the medical aid account, the 28
money-purchase retirement savings administrative account, the money-29
purchase retirement savings principal account, the motor vehicle 30
fund, the motorcycle safety education account, the move ahead WA 31
account, the move ahead WA flexible account, the multimodal 32
transportation account, the multiuse roadway safety account, the 33
municipal criminal justice assistance account, the oyster reserve 34
land account, the pension funding stabilization account, the 35
perpetual surveillance and maintenance account, the pilotage account, 36
the pollution liability insurance agency underground storage tank 37
revolving account, the medicaid access program account, the preserve 38
Washington account, the public employees' retirement system plan 1 39
account, the public employees' retirement system combined plan 2 and 40
p. 14 SB 6225
plan 3 account, the public facilities construction loan revolving 1
account, the public health supplemental account, the public works 2
assistance account, the Puget Sound capital construction account, the 3
Puget Sound ferry operations account, the Puget Sound Gateway 4
facility account, the Puget Sound taxpayer accountability account, 5
the real estate appraiser commission account, the recreational 6
vehicle account, the regional mobility grant program account, the 7
reserve officers' relief and pension principal fund, the resource 8
management cost account, the rural arterial trust account, the rural 9
mobility grant program account, the rural Washington loan fund, the 10
second injury fund, the sexual assault prevention and response 11
account, the site closure account, the skilled nursing facility 12
safety net trust fund, the small city pavement and sidewalk account, 13
the special category C account, the special wildlife account, the 14
state hazard mitigation revolving loan account, the state investment 15
board expense account, the state investment board commingled trust 16
fund accounts, the state patrol highway account, the state 17
reclamation revolving account, the state route number 520 civil 18
penalties account, the state route number 520 corridor account, the 19
statewide broadband account, the statewide tourism marketing account, 20
the supplemental pension account, the Tacoma Narrows toll bridge 21
account, the teachers' retirement system plan 1 account, the 22
teachers' retirement system combined plan 2 and plan 3 account, the 23
tobacco prevention and control account, the tobacco settlement 24
account, the toll facility bond retirement account, the 25
transportation 2003 account (nickel account), the transportation 26
equipment fund, the JUDY transportation future funding program 27
account, the transportation improvement account, the transportation 28
improvement board bond retirement account, the transportation 29
infrastructure account, the transportation partnership account, the 30
traumatic brain injury account, the tribal opioid prevention and 31
treatment account, the University of Washington bond retirement fund, 32
the University of Washington building account, the voluntary cleanup 33
account, the volunteer firefighters' relief and pension principal 34
fund, the volunteer firefighters' and reserve officers' 35
administrative fund, the vulnerable roadway user education account, 36
the Washington judicial retirement system account, the Washington law 37
enforcement officers' and firefighters' system plan 1 retirement 38
account, the Washington law enforcement officers' and firefighters' 39
system plan 2 retirement account, the Washington public safety 40
p. 15 SB 6225
employees' plan 2 retirement account, the Washington school 1
employees' retirement system combined plan 2 and 3 account, the 2
Washington state patrol retirement account, the Washington State 3
University building account, the Washington State University bond 4
retirement fund, the water pollution control revolving administration 5
account, the water pollution control revolving fund, the Western 6
Washington University capital projects account, the Yakima integrated 7
plan implementation account, the Yakima integrated plan 8
implementation revenue recovery account, and the Yakima integrated 9
plan implementation taxable bond account. Earnings derived from 10
investing balances of the agricultural permanent fund, the normal 11
school permanent fund, the permanent common school fund, the 12
scientific permanent fund, and the state university permanent fund 13
shall be allocated to their respective beneficiary accounts.14
(b) Any state agency that has independent authority over accounts 15
or funds not statutorily required to be held in the state treasury 16
that deposits funds into a fund or account in the state treasury 17
pursuant to an agreement with the office of the state treasurer shall 18
receive its proportionate share of earnings based upon each account's 19
or fund's average daily balance for the period. 20
(5) In conformance with Article II, section 37 of the state 21
Constitution, no treasury accounts or funds shall be allocated 22
earnings without the specific affirmative directive of this section.23
Sec. 14. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 24
and 2025 c 299 s 22 are each reenacted and amended to read as 25
follows: 26
(1) All earnings of investments of surplus balances in the state 27
treasury shall be deposited to the treasury income account, which 28
account is hereby established in the state treasury.29
(2) The treasury income account shall be utilized to pay or 30
receive funds associated with federal programs as required by the 31
federal cash management improvement act of 1990. The treasury income 32
account is subject in all respects to chapter 43.88 RCW, but no 33
appropriation is required for refunds or allocations of interest 34
earnings required by the cash management improvement act. Refunds of 35
interest to the federal treasury required under the cash management 36
improvement act fall under RCW 43.88.180 and shall not require 37
appropriation. The office of financial management shall determine the 38
amounts due to or from the federal government pursuant to the cash 39
p. 16 SB 6225
management improvement act. The office of financial management may 1
direct transfers of funds between accounts as deemed necessary to 2
implement the provisions of the cash management improvement act, and 3
this subsection. Refunds or allocations shall occur prior to the 4
distributions of earnings set forth in subsection (4) of this 5
section. 6
(3) Except for the provisions of RCW 43.84.160, the treasury 7
income account may be utilized for the payment of purchased banking 8
services on behalf of treasury funds including, but not limited to, 9
depository, safekeeping, and disbursement functions for the state 10
treasury and affected state agencies. The treasury income account is 11
subject in all respects to chapter 43.88 RCW, but no appropriation is 12
required for payments to financial institutions. Payments shall occur 13
prior to distribution of earnings set forth in subsection (4) of this 14
section. 15
(4) Monthly, the state treasurer shall distribute the earnings 16
credited to the treasury income account. The state treasurer shall 17
credit the general fund with all the earnings credited to the 18
treasury income account except: 19
(a) The following accounts and funds shall receive their 20
proportionate share of earnings based upon each account's and fund's 21
average daily balance for the period: The abandoned recreational 22
vehicle disposal account, the aeronautics account, the Alaskan Way 23
viaduct replacement project account, the budget stabilization 24
account, the capital vessel replacement account, the capitol building 25
construction account, the Central Washington University capital 26
projects account, the charitable, educational, penal and reformatory 27
institutions account, the Chehalis basin account, the Chehalis basin 28
taxable account, the clean fuels credit account, the clean fuels 29
transportation investment account, the cleanup settlement account, 30
the Columbia river basin water supply development account, the 31
Columbia river basin taxable bond water supply development account, 32
the Columbia river basin water supply revenue recovery account, the 33
common school construction fund, the community forest trust account, 34
the connecting Washington account, the county arterial preservation 35
account, the county criminal justice assistance account, the covenant 36
homeownership account, the deferred compensation administrative 37
account, the deferred compensation principal account, the department 38
of licensing services account, the department of retirement systems 39
expense account, the developmental disabilities community services 40
p. 17 SB 6225
account, the diesel idle reduction account, the opioid abatement 1
settlement account, the drinking water assistance account, the 2
administrative subaccount of the drinking water assistance account, 3
the driver education safety improvement account, the early learning 4
facilities development account, the early learning facilities 5
revolving account, the Eastern Washington University capital projects 6
account, the education legacy trust account, the election account, 7
the electric vehicle account, the energy freedom account, the energy 8
recovery act account, the essential rail assistance account, The 9
Evergreen State College capital projects account, the fair start for 10
kids account, the family medicine workforce development account, the 11
ferry bond retirement fund, the fish, wildlife, and conservation 12
account, the freight mobility investment account, the freight 13
mobility multimodal account, the grade crossing protective fund, the 14
higher education retirement plan supplemental benefit fund, the 15
Washington student loan account, the highway bond retirement fund, 16
the highway infrastructure account, the highway safety fund, the 17
hospital safety net assessment fund, the Interstate 5 bridge 18
replacement project account, the Interstate 405 and state route 19
number 167 express toll lanes account, the judges' retirement 20
account, the judicial retirement administrative account, the judicial 21
retirement principal account, the limited fish and wildlife account, 22
the local leasehold excise tax account, the local real estate excise 23
tax account, the local sales and use tax account, the marine 24
resources stewardship trust account, the medical aid account, the 25
money-purchase retirement savings administrative account, the money-26
purchase retirement savings principal account, the motor vehicle 27
fund, the motorcycle safety education account, the move ahead WA 28
account, the move ahead WA flexible account, the multimodal 29
transportation account, the multiuse roadway safety account, the 30
municipal criminal justice assistance account, the oyster reserve 31
land account, the pension funding stabilization account, the 32
perpetual surveillance and maintenance account, the pilotage account, 33
the pollution liability insurance agency underground storage tank 34
revolving account, the preserve Washington account, the public 35
employees' retirement system plan 1 account, the public employees' 36
retirement system combined plan 2 and plan 3 account, the public 37
facilities construction loan revolving account, the public health 38
supplemental account, the public works assistance account, the Puget 39
Sound capital construction account, the Puget Sound ferry operations 40
p. 18 SB 6225
account, the Puget Sound Gateway facility account, the Puget Sound 1
taxpayer accountability account, the real estate appraiser commission 2
account, the recreational vehicle account, the regional mobility 3
grant program account, the reserve officers' relief and pension 4
principal fund, the resource management cost account, the rural 5
arterial trust account, the rural mobility grant program account, the 6
rural Washington loan fund, the second injury fund, the sexual 7
assault prevention and response account, the site closure account, 8
the skilled nursing facility safety net trust fund, the small city 9
pavement and sidewalk account, the special category C account, the 10
special wildlife account, the state hazard mitigation revolving loan 11
account, the state investment board expense account, the state 12
investment board commingled trust fund accounts, the state patrol 13
highway account, the state reclamation revolving account, the state 14
route number 520 civil penalties account, the state route number 520 15
corridor account, the statewide broadband account, the statewide 16
tourism marketing account, the supplemental pension account, the 17
Tacoma Narrows toll bridge account, the teachers' retirement system 18
plan 1 account, the teachers' retirement system combined plan 2 and 19
plan 3 account, the tobacco prevention and control account, the 20
tobacco settlement account, the toll facility bond retirement 21
account, the transportation 2003 account (nickel account), the 22
transportation equipment fund, the JUDY transportation future funding 23
program account, the transportation improvement account, the 24
transportation improvement board bond retirement account, the 25
transportation infrastructure account, the transportation partnership 26
account, the traumatic brain injury account, the tribal opioid 27
prevention and treatment account, the University of Washington bond 28
retirement fund, the University of Washington building account, the 29
voluntary cleanup account, the volunteer firefighters' relief and 30
pension principal fund, the volunteer firefighters' and reserve 31
officers' administrative fund, the vulnerable roadway user education 32
account, the Washington judicial retirement system account, the 33
Washington law enforcement officers' and firefighters' system plan 1 34
retirement account, the Washington law enforcement officers' and 35
firefighters' system plan 2 retirement account, the Washington public 36
safety employees' plan 2 retirement account, the Washington school 37
employees' retirement system combined plan 2 and 3 account, the 38
Washington state patrol retirement account, the Washington State 39
University building account, the Washington State University bond 40
p. 19 SB 6225
retirement fund, the water pollution control revolving administration 1
account, the water pollution control revolving fund, the Western 2
Washington University capital projects account, the Yakima integrated 3
plan implementation account, the Yakima integrated plan 4
implementation revenue recovery account, and the Yakima integrated 5
plan implementation taxable bond account. Earnings derived from 6
investing balances of the agricultural permanent fund, the normal 7
school permanent fund, the permanent common school fund, the 8
scientific permanent fund, and the state university permanent fund 9
shall be allocated to their respective beneficiary accounts.10
(b) Any state agency that has independent authority over accounts 11
or funds not statutorily required to be held in the state treasury 12
that deposits funds into a fund or account in the state treasury 13
pursuant to an agreement with the office of the state treasurer shall 14
receive its proportionate share of earnings based upon each account's 15
or fund's average daily balance for the period. 16
(5) In conformance with Article II, section 37 of the state 17
Constitution, no treasury accounts or funds shall be allocated 18
earnings without the specific affirmative directive of this section.19
Sec. 15. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 20
2025 c 359 s 13, 2025 c 299 s 22, and 2025 c 228 s 15 are each 21
reenacted and amended to read as follows: 22
(1) All earnings of investments of surplus balances in the state 23
treasury shall be deposited to the treasury income account, which 24
account is hereby established in the state treasury.25
(2) The treasury income account shall be utilized to pay or 26
receive funds associated with federal programs as required by the 27
federal cash management improvement act of 1990. The treasury income 28
account is subject in all respects to chapter 43.88 RCW, but no 29
appropriation is required for refunds or allocations of interest 30
earnings required by the cash management improvement act. Refunds of 31
interest to the federal treasury required under the cash management 32
improvement act fall under RCW 43.88.180 and shall not require 33
appropriation. The office of financial management shall determine the 34
amounts due to or from the federal government pursuant to the cash 35
management improvement act. The office of financial management may 36
direct transfers of funds between accounts as deemed necessary to 37
implement the provisions of the cash management improvement act, and 38
this subsection. Refunds or allocations shall occur prior to the 39
p. 20 SB 6225
distributions of earnings set forth in subsection (4) of this 1
section. 2
(3) Except for the provisions of RCW 43.84.160, the treasury 3
income account may be utilized for the payment of purchased banking 4
services on behalf of treasury funds including, but not limited to, 5
depository, safekeeping, and disbursement functions for the state 6
treasury and affected state agencies. The treasury income account is 7
subject in all respects to chapter 43.88 RCW, but no appropriation is 8
required for payments to financial institutions. Payments shall occur 9
prior to distribution of earnings set forth in subsection (4) of this 10
section. 11
(4) Monthly, the state treasurer shall distribute the earnings 12
credited to the treasury income account. The state treasurer shall 13
credit the general fund with all the earnings credited to the 14
treasury income account except: 15
(a) The following accounts and funds shall receive their 16
proportionate share of earnings based upon each account's and fund's 17
average daily balance for the period: The abandoned recreational 18
vehicle disposal account, the aeronautics account, the Alaskan Way 19
viaduct replacement project account, the budget stabilization 20
account, the capital vessel replacement account, the capitol building 21
construction account, the Central Washington University capital 22
projects account, the charitable, educational, penal and reformatory 23
institutions account, the Chehalis basin account, the Chehalis basin 24
taxable account, the clean fuels credit account, the clean fuels 25
transportation investment account, the cleanup settlement account, 26
the Columbia river basin water supply development account, the 27
Columbia river basin taxable bond water supply development account, 28
the Columbia river basin water supply revenue recovery account, the 29
common school construction fund, the community forest trust account, 30
the connecting Washington account, the county arterial preservation 31
account, the county criminal justice assistance account, the covenant 32
homeownership account, the deferred compensation administrative 33
account, the deferred compensation principal account, the department 34
of licensing services account, the department of retirement systems 35
expense account, the developmental disabilities community services 36
account, the diesel idle reduction account, the opioid abatement 37
settlement account, the drinking water assistance account, the 38
administrative subaccount of the drinking water assistance account, 39
the driver education safety improvement account, the early learning 40
p. 21 SB 6225
facilities development account, the early learning facilities 1
revolving account, the Eastern Washington University capital projects 2
account, the education legacy trust account, the election account, 3
the electric vehicle account, the energy freedom account, the energy 4
recovery act account, the essential rail assistance account, The 5
Evergreen State College capital projects account, the fair start for 6
kids account, the family medicine workforce development account, the 7
ferry bond retirement fund, the fish, wildlife, and conservation 8
account, the freight mobility investment account, the freight 9
mobility multimodal account, the grade crossing protective fund, the 10
higher education retirement plan supplemental benefit fund, the 11
Washington student loan account, the highway bond retirement fund, 12
the highway infrastructure account, the highway safety fund, the 13
hospital safety net assessment fund, the intelligent speed assistance 14
device revolving account, the Interstate 5 bridge replacement project 15
account, the Interstate 405 and state route number 167 express toll 16
lanes account, the judges' retirement account, the judicial 17
retirement administrative account, the judicial retirement principal 18
account, the limited fish and wildlife account, the local leasehold 19
excise tax account, the local real estate excise tax account, the 20
local sales and use tax account, the marine resources stewardship 21
trust account, the medical aid account, the money-purchase retirement 22
savings administrative account, the money-purchase retirement savings 23
principal account, the motor vehicle fund, the motorcycle safety 24
education account, the move ahead WA account, the move ahead WA 25
flexible account, the multimodal transportation account, the multiuse 26
roadway safety account, the municipal criminal justice assistance 27
account, the oyster reserve land account, the pension funding 28
stabilization account, the perpetual surveillance and maintenance 29
account, the pilotage account, the pollution liability insurance 30
agency underground storage tank revolving account, the medicaid 31
access program account, the preserve Washington account, the public 32
employees' retirement system plan 1 account, the public employees' 33
retirement system combined plan 2 and plan 3 account, the public 34
facilities construction loan revolving account, the public health 35
supplemental account, the public works assistance account, the Puget 36
Sound capital construction account, the Puget Sound ferry operations 37
account, the Puget Sound Gateway facility account, the Puget Sound 38
taxpayer accountability account, the real estate appraiser commission 39
account, the recreational vehicle account, the regional mobility 40
p. 22 SB 6225
grant program account, the reserve officers' relief and pension 1
principal fund, the resource management cost account, the rural 2
arterial trust account, the rural mobility grant program account, the 3
rural Washington loan fund, the second injury fund, the sexual 4
assault prevention and response account, the site closure account, 5
the skilled nursing facility safety net trust fund, the small city 6
pavement and sidewalk account, the special category C account, the 7
special wildlife account, the state hazard mitigation revolving loan 8
account, the state investment board expense account, the state 9
investment board commingled trust fund accounts, the state patrol 10
highway account, the state reclamation revolving account, the state 11
route number 520 civil penalties account, the state route number 520 12
corridor account, the statewide broadband account, the statewide 13
tourism marketing account, the supplemental pension account, the 14
Tacoma Narrows toll bridge account, the teachers' retirement system 15
plan 1 account, the teachers' retirement system combined plan 2 and 16
plan 3 account, the tobacco prevention and control account, the 17
tobacco settlement account, the toll facility bond retirement 18
account, the transportation 2003 account (nickel account), the 19
transportation equipment fund, the JUDY transportation future funding 20
program account, the transportation improvement account, the 21
transportation improvement board bond retirement account, the 22
transportation infrastructure account, the transportation partnership 23
account, the traumatic brain injury account, the tribal opioid 24
prevention and treatment account, the University of Washington bond 25
retirement fund, the University of Washington building account, the 26
voluntary cleanup account, the volunteer firefighters' relief and 27
pension principal fund, the volunteer firefighters' and reserve 28
officers' administrative fund, the vulnerable roadway user education 29
account, the Washington judicial retirement system account, the 30
Washington law enforcement officers' and firefighters' system plan 1 31
retirement account, the Washington law enforcement officers' and 32
firefighters' system plan 2 retirement account, the Washington public 33
safety employees' plan 2 retirement account, the Washington school 34
employees' retirement system combined plan 2 and 3 account, the 35
Washington state patrol retirement account, the Washington State 36
University building account, the Washington State University bond 37
retirement fund, the water pollution control revolving administration 38
account, the water pollution control revolving fund, the Western 39
Washington University capital projects account, the Yakima integrated 40
p. 23 SB 6225
plan implementation account, the Yakima integrated plan 1
implementation revenue recovery account, and the Yakima integrated 2
plan implementation taxable bond account. Earnings derived from 3
investing balances of the agricultural permanent fund, the normal 4
school permanent fund, the permanent common school fund, the 5
scientific permanent fund, and the state university permanent fund 6
shall be allocated to their respective beneficiary accounts.7
(b) Any state agency that has independent authority over accounts 8
or funds not statutorily required to be held in the state treasury 9
that deposits funds into a fund or account in the state treasury 10
pursuant to an agreement with the office of the state treasurer shall 11
receive its proportionate share of earnings based upon each account's 12
or fund's average daily balance for the period. 13
(5) In conformance with Article II, section 37 of the state 14
Constitution, no treasury accounts or funds shall be allocated 15
earnings without the specific affirmative directive of this section.16
Sec. 16. RCW 43.84.092 and 2025 c 417 s 803, 2025 c 399 s 16, 17
2025 c 299 s 22, and 2025 c 228 s 15 are each reenacted and amended 18
to read as follows: 19
(1) All earnings of investments of surplus balances in the state 20
treasury shall be deposited to the treasury income account, which 21
account is hereby established in the state treasury.22
(2) The treasury income account shall be utilized to pay or 23
receive funds associated with federal programs as required by the 24
federal cash management improvement act of 1990. The treasury income 25
account is subject in all respects to chapter 43.88 RCW, but no 26
appropriation is required for refunds or allocations of interest 27
earnings required by the cash management improvement act. Refunds of 28
interest to the federal treasury required under the cash management 29
improvement act fall under RCW 43.88.180 and shall not require 30
appropriation. The office of financial management shall determine the 31
amounts due to or from the federal government pursuant to the cash 32
management improvement act. The office of financial management may 33
direct transfers of funds between accounts as deemed necessary to 34
implement the provisions of the cash management improvement act, and 35
this subsection. Refunds or allocations shall occur prior to the 36
distributions of earnings set forth in subsection (4) of this 37
section. 38
p. 24 SB 6225
(3) Except for the provisions of RCW 43.84.160, the treasury 1
income account may be utilized for the payment of purchased banking 2
services on behalf of treasury funds including, but not limited to, 3
depository, safekeeping, and disbursement functions for the state 4
treasury and affected state agencies. The treasury income account is 5
subject in all respects to chapter 43.88 RCW, but no appropriation is 6
required for payments to financial institutions. Payments shall occur 7
prior to distribution of earnings set forth in subsection (4) of this 8
section. 9
(4) Monthly, the state treasurer shall distribute the earnings 10
credited to the treasury income account. The state treasurer shall 11
credit the general fund with all the earnings credited to the 12
treasury income account except: 13
(a) The following accounts and funds shall receive their 14
proportionate share of earnings based upon each account's and fund's 15
average daily balance for the period: The abandoned recreational 16
vehicle disposal account, the aeronautics account, the Alaskan Way 17
viaduct replacement project account, the budget stabilization 18
account, the capital vessel replacement account, the capitol building 19
construction account, the Central Washington University capital 20
projects account, the charitable, educational, penal and reformatory 21
institutions account, the Chehalis basin account, the Chehalis basin 22
taxable account, the clean fuels credit account, the clean fuels 23
transportation investment account, the cleanup settlement account, 24
the Columbia river basin water supply development account, the 25
Columbia river basin taxable bond water supply development account, 26
the Columbia river basin water supply revenue recovery account, the 27
common school construction fund, the community forest trust account, 28
the connecting Washington account, the county arterial preservation 29
account, the county criminal justice assistance account, the covenant 30
homeownership account, the deferred compensation administrative 31
account, the deferred compensation principal account, the department 32
of licensing services account, the department of retirement systems 33
expense account, the developmental disabilities community services 34
account, the diesel idle reduction account, the opioid abatement 35
settlement account, the drinking water assistance account, the 36
administrative subaccount of the drinking water assistance account, 37
the driver education safety improvement account, the early learning 38
facilities development account, the early learning facilities 39
revolving account, the Eastern Washington University capital projects 40
p. 25 SB 6225
account, the education legacy trust account, the election account, 1
the electric vehicle account, the energy freedom account, the energy 2
recovery act account, the essential rail assistance account, The 3
Evergreen State College capital projects account, the fair start for 4
kids account, the family medicine workforce development account, the 5
ferry bond retirement fund, the fish, wildlife, and conservation 6
account, the freight mobility investment account, the freight 7
mobility multimodal account, the grade crossing protective fund, the 8
higher education retirement plan supplemental benefit fund, the 9
Washington student loan account, the highway bond retirement fund, 10
the highway infrastructure account, the highway safety fund, the 11
hospital safety net assessment fund, the intelligent speed assistance 12
device revolving account, the Interstate 5 bridge replacement project 13
account, the Interstate 405 and state route number 167 express toll 14
lanes account, the judges' retirement account, the judicial 15
retirement administrative account, the judicial retirement principal 16
account, the limited fish and wildlife account, the local leasehold 17
excise tax account, the local real estate excise tax account, the 18
local sales and use tax account, the marine resources stewardship 19
trust account, the medical aid account, the money-purchase retirement 20
savings administrative account, the money-purchase retirement savings 21
principal account, the motor vehicle fund, the motorcycle safety 22
education account, the move ahead WA account, the move ahead WA 23
flexible account, the multimodal transportation account, the multiuse 24
roadway safety account, the municipal criminal justice assistance 25
account, the oyster reserve land account, the pension funding 26
stabilization account, the perpetual surveillance and maintenance 27
account, the pilotage account, the pollution liability insurance 28
agency underground storage tank revolving account, the preserve 29
Washington account, the public employees' retirement system plan 1 30
account, the public employees' retirement system combined plan 2 and 31
plan 3 account, the public facilities construction loan revolving 32
account, the public health supplemental account, the public works 33
assistance account, the Puget Sound capital construction account, the 34
Puget Sound ferry operations account, the Puget Sound Gateway 35
facility account, the Puget Sound taxpayer accountability account, 36
the real estate appraiser commission account, the recreational 37
vehicle account, the regional mobility grant program account, the 38
reserve officers' relief and pension principal fund, the resource 39
management cost account, the rural arterial trust account, the rural 40
p. 26 SB 6225
mobility grant program account, the rural Washington loan fund, the 1
second injury fund, the sexual assault prevention and response 2
account, the site closure account, the skilled nursing facility 3
safety net trust fund, the small city pavement and sidewalk account, 4
the special category C account, the special wildlife account, the 5
state hazard mitigation revolving loan account, the state investment 6
board expense account, the state investment board commingled trust 7
fund accounts, the state patrol highway account, the state 8
reclamation revolving account, the state route number 520 civil 9
penalties account, the state route number 520 corridor account, the 10
statewide broadband account, the statewide tourism marketing account, 11
the supplemental pension account, the Tacoma Narrows toll bridge 12
account, the teachers' retirement system plan 1 account, the 13
teachers' retirement system combined plan 2 and plan 3 account, the 14
tobacco prevention and control account, the tobacco settlement 15
account, the toll facility bond retirement account, the 16
transportation 2003 account (nickel account), the transportation 17
equipment fund, the JUDY transportation future funding program 18
account, the transportation improvement account, the transportation 19
improvement board bond retirement account, the transportation 20
infrastructure account, the transportation partnership account, the 21
traumatic brain injury account, the tribal opioid prevention and 22
treatment account, the University of Washington bond retirement fund, 23
the University of Washington building account, the voluntary cleanup 24
account, the volunteer firefighters' relief and pension principal 25
fund, the volunteer firefighters' and reserve officers' 26
administrative fund, the vulnerable roadway user education account, 27
the Washington judicial retirement system account, the Washington law 28
enforcement officers' and firefighters' system plan 1 retirement 29
account, the Washington law enforcement officers' and firefighters' 30
system plan 2 retirement account, the Washington public safety 31
employees' plan 2 retirement account, the Washington school 32
employees' retirement system combined plan 2 and 3 account, the 33
Washington state patrol retirement account, the Washington State 34
University building account, the Washington State University bond 35
retirement fund, the water pollution control revolving administration 36
account, the water pollution control revolving fund, the Western 37
Washington University capital projects account, the Yakima integrated 38
plan implementation account, the Yakima integrated plan 39
implementation revenue recovery account, and the Yakima integrated 40
p. 27 SB 6225
plan implementation taxable bond account. Earnings derived from 1
investing balances of the agricultural permanent fund, the normal 2
school permanent fund, the permanent common school fund, the 3
scientific permanent fund, and the state university permanent fund 4
shall be allocated to their respective beneficiary accounts.5
(b) Any state agency that has independent authority over accounts 6
or funds not statutorily required to be held in the state treasury 7
that deposits funds into a fund or account in the state treasury 8
pursuant to an agreement with the office of the state treasurer shall 9
receive its proportionate share of earnings based upon each account's 10
or fund's average daily balance for the period. 11
(5) In conformance with Article II, section 37 of the state 12
Constitution, no treasury accounts or funds shall be allocated 13
earnings without the specific affirmative directive of this section.14
NEW SECTION. Sec. 17. Sections 2 through 8 of this act are each 15
added to chapter 47.10 RCW.16
NEW SECTION. Sec. 18. (1) Section 11 of this act expires the 17
earlier of July 1, 2028, or when RCW 74.76.040 expires.18
(2) Section 12 of this act expires July 1, 2028.19
(3) Section 13 of this act expires the earlier of January 1, 20
2029, or when RCW 74.76.040 expires. 21
(4) Section 14 of this act expires January 1, 2029.22
(5) Section 15 of this act expires when RCW 74.76.040 expires.23
NEW SECTION. Sec. 19. (1) Section 12 of this act takes effect 24
when RCW 74.76.040 expires.25
(2) Sections 13 and 14 of this act take effect July 1, 2028.26
(3) Sections 15 and 16 of this act take effect January 1, 2029.27
NEW SECTION. Sec. 20. This act is necessary for the immediate 28
preservation of the public peace, health, or safety, or support of 29
the state government and its existing public institutions, and takes 30
effect immediately.31
--- END ---
p. 28 SB 6225