The proposed bill aims to support local news journalism in Washington State by establishing a local news sustainability program within the Department of Revenue. This program will provide grants to eligible news journalism providers to support the employment of journalists covering civic affairs in underserved communities. The bill outlines specific eligibility requirements for applicants, including the need to employ a certain number of journalists, and establishes a local journalism investment account funded by a new surcharge on covered platforms, such as social media and search engines, that generate significant revenue. The surcharge will be set at 1.22% of gross income, with a cap of $6 million annually for any single platform.

Additionally, the bill emphasizes the importance of a diverse and free press as a cornerstone of democracy, highlighting the decline in newspaper advertising and staffing over the past decade. It recognizes the unique role of ethnic media in fostering community engagement and addressing inequalities. The legislation also includes provisions for data sharing among relevant departments to facilitate the implementation of the program and allows the Department of Revenue to adopt necessary rules. The effective date for the surcharge is set for January 1, 2026, while the other sections of the act will be codified under chapter 43.330 RCW.