The bill establishes the Washington State Ferries 75 Work Group to evaluate the financial sustainability and operational needs of the Washington State Ferries as it approaches its 75th anniversary. The work group will consist of members from the house and senate transportation committees, representatives from ferry-served communities, labor, the Washington State Ferries, and the governor's office. Its primary tasks include assessing funding requirements, exploring options for dedicated funding sources, and identifying federal funding opportunities. The work group is required to report preliminary findings by January 13, 2025, and final recommendations by June 1, 2026, after which the section will expire.

Additionally, the bill mandates the Institute for Public Policy at The Evergreen State College to conduct an economic impact study on ferry service disruptions. This study will analyze the effects on the economy of ferry-served communities and the state as a whole, focusing on various factors such as employment, housing, healthcare, emergency response, climate resilience, tourism, and small businesses. Preliminary findings are due by December 13, 2024, with a final report expected by June 1, 2025.