The bill establishes the Washington Electric Transmission Authority to improve the reliability, resilience, and affordability of the state's electric transmission system, aligning with Washington's goals of achieving a carbon-neutral electricity system by 2030 and carbon-free by 2045. The authority will engage in long-term planning, coordinate permitting, and collaborate with stakeholders to enhance transmission infrastructure, addressing the growing electricity demands and the impacts of extreme weather. Key provisions include the creation of a board of directors, a 20-year transmission needs assessment by the Department of Commerce, and the establishment of two new accounts in the state treasury for managing electric transmission project costs. Additionally, the bill introduces new sections to existing laws, including the electric transmission capital account, and outlines the expiration and effective dates for certain provisions, with Section 15 set to expire on July 1, 2028 and Section 16 taking effect on the same date. It also designates Sections 2 through 4 and 6 through 9 to form a new chapter in Title 43 of the Revised Code of Washington (RCW). The bill emphasizes the confidentiality of critical energy infrastructure information and exempts certain utility activities from compliance with the State Environmental Policy Act, while also providing incentives for investments in grid-enhancing technologies.