The proposed bill establishes a Washington state supply chain competitiveness infrastructure program designed to enhance the state's global trade competitiveness by improving critical infrastructure for the transport and movement of goods. It emphasizes collaboration among stakeholders, including public ports, trucking companies, and manufacturing representatives, to prioritize and implement a program that provides grants and loans to public ports. The bill also creates a dedicated account for the program, detailing funding sources and utilization, and mandates the development of performance metrics and project eligibility criteria to align funded projects with the state's economic and environmental goals.

In addition to the supply chain program, the bill amends existing law regarding the management of earnings from the treasurer's trust fund by establishing an investment income account for banking services related to these funds. It specifies that all investment income will be allocated to this account, with payments to financial institutions not requiring an appropriation. Monthly distributions from this account will primarily benefit the state general fund, with other accounts receiving shares based on their average daily balances. The bill also introduces expiration dates for certain provisions and establishes new accounts, including the supply chain competitiveness infrastructure program account and the library operations account, which will receive earnings from the investment income account.