The bill establishes a new section in chapter 79A.25 RCW aimed at creating a streamlined grant application process for state voluntary funding programs that focus on ecosystem investments. It mandates covered agencies, which include the Puget Sound Partnership, the Department of Ecology, and others, to coordinate efforts to enhance the efficiency and effectiveness of these funding programs. The objectives of this streamlined process include improving grant application and management processes, enhancing accountability, and fostering collaboration among grant managers. The bill emphasizes the importance of leveraging local, state, and federal funding, increasing project completion rates, and ensuring equitable and climate-resilient investments.

To achieve these goals, the bill outlines specific actions that covered agencies must undertake, such as maintaining regular communication with project proponents, developing joint application forms, and creating a biennial work plan that prioritizes projects and deliverables. Additionally, starting September 1, 2025, these agencies are required to submit an annual report to the legislature detailing their actions and improvements made to the funding programs. This legislative initiative aims to streamline administrative processes and enhance the overall effectiveness of ecosystem investment projects in Washington State.