This bill establishes a framework for transferring funds from the budget stabilization account to the state general fund to address the increasing costs of services necessary for the health, welfare, and public safety of Washington residents. Specifically, it mandates that by June 15, 2026, the state treasurer will transfer $1,632,500,000 from the budget stabilization account to the state general fund. The intent is for these funds to be repaid to the budget stabilization account by the end of fiscal year 2029.

To facilitate the repayment, the bill outlines a schedule for the state treasurer to transfer $816,250,000 back to the budget stabilization account on June 30, 2028, and another $816,250,000 on June 30, 2029. Additionally, the bill clarifies that these transfers will not affect the requirement to balance the budget in subsequent biennia, ensuring fiscal responsibility while providing necessary funding for state services.