The bill aims to enhance cancer research funding in Washington by dedicating a portion of state sales tax collections from October to the Andy Hill cancer research endowment fund. It establishes a new section that mandates the allocation of 0.25 percent of the sales tax collected during October to be transferred to the endowment fund match transfer account, starting from October 1, 2024. The bill emphasizes the importance of dedicated funding for cancer research, recognizing October as a significant month for cancer awareness.

Additionally, the bill amends existing laws regarding sales tax rates and the Andy Hill cancer research endowment fund match transfer account. It updates the sales tax rate from "six and five-tenths" to "6.5 percent" and from "five and nine-tenths" to "5.9 percent" for car rentals. The maximum annual state match for the endowment fund is set at $10 million, and it clarifies that funds transferred from the sales tax are in addition to the state match from tobacco tax collections. The bill also outlines the conditions under which expenditures from the account can be made, ensuring that matching funds are contingent upon nonstate or private contributions.

Statutes affected:
Original Bill: 82.08.020, 82.12.020
Substitute Bill: 82.08.020, 82.12.020