The proposed bill establishes the Washington State Ferries 75 Commission to evaluate and recommend changes to the financing, funding sources, and operational scope of the Washington State Ferries system, which has faced various challenges over the years. The commission will consist of representatives from the legislature, the governor's office, labor, and ferry-dependent communities, and is tasked with assessing the financial needs, exploring funding options, and evaluating the adequacy of ferry services to meet community needs. The commission is required to report preliminary findings by January 13, 2025, and final recommendations by June 1, 2026, with the section expiring on that date.

Additionally, the bill mandates the Western Washington University Center for Economic and Business Research to conduct an economic impact study on reduced ferry service across all ten routes. This study will analyze the effects on ferry-served communities and the broader state economy, focusing on various factors such as employment, housing, healthcare costs, and tourism. The findings from this study are expected to support the case for increased state and federal funding and must be submitted to the governor's office and the Washington State Ferries 75 Commission by September 30, 2024.