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 outlines the eligibility criteria for applicants, which include being a U.S. resident, at least 18 years old, and purchasing artwork for personal use. Eligible purchases include original works by Washington state artists and indigenous artists, with loans ranging from $1,000 to $12,000, to be repaid in 12 equal monthly installments.

Additionally, the bill emphasizes the importance of the arts in enhancing the quality of life and contributing to the economic vitality of Washington state. It draws inspiration from Tasmania's successful art purchase program, which has facilitated significant art purchases since 2009. The commission is authorized to administer the program, issue loans, and may solicit gifts and grants to support its funding. The bill aims to foster a thriving arts ecosystem, enrich the cultural landscape of the state, and create a mutually beneficial relationship between art buyers and local artists.