This bill amends existing Washington state laws regarding the budget process, specifically RCW 43.88.030 and RCW 43.88.055, to ensure that the estimated revenues used in the governor's budget documents are based on projections from the economic and revenue forecast council. The bill mandates that the governor's operating budget must leave a positive ending fund balance in the general fund and related funds starting from the 2021-2023 fiscal biennium. Additionally, it stipulates that the projected maintenance level of the budget must not exceed the available fiscal resources for the next biennium. The definitions of "available fiscal resources" and "projected maintenance level" are clarified, with adjustments to revenue forecasts now required to be made pursuant to the official revenue forecast.

Furthermore, the bill introduces a new section declaring an emergency, which allows the act to take effect immediately to preserve public peace, health, or safety, and to support state government and its institutions. The amendments also include the removal of previous language that allowed for alternative methods of adjusting revenue forecasts, thereby tightening the requirements for budgetary planning and ensuring fiscal responsibility.

Statutes affected:
Original Bill: 43.88.030, 43.88.055