The bill aims to address Washington's workforce gap by amending the advanced computing surcharge and enhancing investments in workforce education. It highlights the urgent need for skilled workers across various sectors, including advanced computing, healthcare, and skilled trades, due to a projected shortfall of nearly 600,000 credentialed workers over the next decade. To tackle this issue, the bill proposes expanding the Washington college grant program for families earning up to 70% of the median family income, increasing teacher training programs, and funding work-study salaries for students engaged in STEM research.

Key amendments include the introduction of a workforce education investment surcharge of 1.22% on select advanced computing businesses, with specific definitions and exemptions outlined. The surcharge will be reported quarterly, and revenues generated will be directed to the workforce education investment account. Additionally, the bill establishes penalties for non-compliance with the surcharge requirements and clarifies the definitions of terms related to advanced computing and affiliated groups. The act is set to take effect on October 1, 2025.