The proposed bill establishes the Washington Future Fund Program, designed to reduce wealth-building barriers for individuals born into poverty by providing seed capital for investments in education, homeownership, or small business ventures. It introduces key definitions such as "claimant," "cohort," and "eligible expenditure" to clarify participation criteria and funding types. The program will be administered by the Office of the State Treasurer, which will manage the application process and fund disbursement. Additionally, the bill creates the Washington Future Fund Account to hold appropriated funds, starting with a $4,000 allocation per individual in the 2024 cohort, and establishes a committee for program oversight and evaluation, ensuring diverse stakeholder representation.

The bill also amends existing laws related to vital records information, allowing the disclosure of birth and death data to the health care authority for medical assistance programs while ensuring strict confidentiality and prohibiting redisclosure without permission. It introduces provisions regarding the handling of individual data by state and local registrars, emphasizing that these entities cannot sell or provide access to individual lists for commercial purposes. Furthermore, it mandates the creation of a memorandum of understanding for information sharing practices among relevant state agencies by September 30, 2036, and includes a severability clause to maintain the enforceability of remaining provisions if any part of the act is invalidated.

Statutes affected:
Original Bill: 43.88C.010
Substitute Bill: 43.88C.010, 70.58A.520