The bill recognizes the Lunar New Year as a significant cultural celebration for the Asian American community in Washington State. It emphasizes the importance of acknowledging both the heritage and challenges faced by Asian Americans, promoting solidarity and understanding. The bill encourages various governmental entities, educational institutions, and cultural organizations to celebrate the Lunar New Year and mandates the creation of programming and resources to facilitate these celebrations.

Additionally, the bill amends existing legal holiday statutes to include the Lunar New Year as a recognized day, specifically defining it as the date corresponding with the second new moon following the winter solstice, or the third new moon if an intercalary month intervenes. This inclusion aims to honor the contributions of Asian Americans to the state's history and heritage, while also promoting cultural awareness and appreciation within the community.