The bill establishes a new capital grant program aimed at supporting the recovery of salmon and steelhead stocks in Washington State, particularly those at high risk of extinction or being listed under the federal Endangered Species Act. The program will focus on three categories of stocks: those at the highest risk of extinction, those at risk of being listed, and those closest to delisting. The legislature intends for this program to supplement existing recovery efforts rather than replace them. The grants will be awarded by the Recreation and Conservation Office, which will prioritize projects based on criteria set by an advisory committee.

Eligible entities for grant funding include tribes, local governments, nonprofit organizations, and federal agencies, among others. The types of projects that can receive funding include habitat acquisition, restoration, conservation, and irrigation efficiency improvements. The advisory committee will also be responsible for consulting with relevant agencies to identify eligible watersheds and will develop a prioritization process for grant applications to ensure that the most beneficial projects for high-risk stocks are funded. The bill mandates that grant applicants provide matching nonstate funding and outlines specific administrative provisions for the management of the grant program.