The bill aims to strengthen Washington state's electric transmission system to support its carbon neutrality goals by 2030 and becoming carbon-free by 2045. It establishes the Washington Electric Transmission Authority, which will oversee the development of new transmission projects that align with clean energy objectives. The authority will focus on enhancing reliability, increasing access to renewable energy, and fostering economic growth while ensuring affordable energy rates. It will engage with stakeholders, including utilities and tribal representatives, to facilitate the expansion of the transmission system. Key provisions include the creation of a board of directors, the authority's power to adopt rules and utilize eminent domain for land acquisition, and the establishment of a Tribal Clean Energy Partnership Work Group to promote tribal involvement in clean energy initiatives. Additionally, the bill introduces the electric transmission capital account and the electric vehicle account to manage earnings from state treasury investments, ensuring that these accounts benefit from the generated earnings. It clarifies that no appropriation is needed for refunds or allocations of interest earnings as mandated by federal law, streamlining financial management. The bill also outlines the distribution of earnings from the treasury income account, with the general fund receiving the majority, while other accounts receive their proportionate share based on average daily balances. Furthermore, it includes provisions for the expiration of certain sections, with specific dates set for various provisions to ensure timely review and implementation.