The bill establishes a new environmental accelerator within the office of regulatory assistance to enhance regulatory flexibility for salmon recovery and ecological resiliency projects funded by climate commitment act revenue. It mandates the appointment of an administrator to oversee the accelerator, which automatically enrolls entities receiving funding for these purposes from specified climate-related accounts. The administrator is tasked with identifying regulatory barriers, facilitating potential regulatory relief, and maintaining a registry of enrolled entities. The bill also outlines the process for requesting regulatory relief, the conditions under which such relief can be rescinded, and the requirement for annual progress reports to the legislature.

Additionally, the bill amends existing definitions in RCW 43.42.030 to include terms related to the environmental accelerator, such as "Administrator" and "Salmon recovery." A new section is added to chapter 44.28 RCW, requiring a joint committee to evaluate the implementation of the environmental accelerator and report its findings by December 1, 2029, including recommendations for its continuation and potential legislative improvements. This evaluation section is set to expire on January 1, 2031.

Statutes affected:
Original Bill: 43.42.030