The proposed bill establishes the "Own Your Own Art Purchase Program" within the Washington state commission, aimed at providing interest-free loans to eligible individuals for purchasing original works of art created by Washington state artists. The program is designed to stimulate the arts economy, support local artists, and increase art ownership by making original artwork more accessible. The bill highlights the positive impact of the arts on the state's economic vitality and cultural richness, drawing inspiration from Tasmania's successful art purchase program.

To qualify for a loan, applicants must be U.S. residents aged 18 or older, purchase artwork for personal use, and agree not to export the artwork while the loan is outstanding. Eligible purchases include original works by Washington state artists and indigenous artists. The program will offer loans ranging from $1,000 to $12,000, which must be repaid in 12 equal monthly installments. The commission will also establish a process for loan payment collection and may impose fees for late payments.