The bill proposes a new allocation of state sales tax revenue from motor vehicle sales, directing a portion specifically towards transportation purposes. It amends existing laws, including RCW 82.08.020 and RCW 82.12.020, to establish a structured distribution of sales tax revenue, starting July 1, 2026. A percentage of the revenue from retail sales of new and used vehicles will be allocated to the newly created transportation preservation and maintenance account, with the percentage increasing annually until it reaches 100% by July 1, 2031. The bill also clarifies the definition of "motor vehicle" and specifies exclusions for certain vehicles, such as farm tractors and off-road vehicles.

Furthermore, the bill establishes the transportation preservation and maintenance account within the state treasury, ensuring that funds collected from the sales and use tax on vehicles are exclusively used for the preservation and maintenance of highways, roads, and bridges. It also amends the management of the treasury income account, allowing for the distribution of earnings to various accounts, including the new transportation preservation and maintenance account. The bill outlines specific expiration and effective dates for its provisions, with certain sections set to take effect on July 1, 2026, and others expiring on July 1, 2028, thereby enhancing the clarity and management of state funds related to transportation infrastructure.

Statutes affected:
Original Bill: 82.08.020, 82.12.020