The proposed bill establishes the Washington State Supply Chain Competitiveness Infrastructure Program, which aims to enhance the state's competitiveness in the global trade market by maintaining and expanding critical infrastructure for the transport and movement of goods. It emphasizes collaboration among various stakeholders, including public ports and tribal governments, to prioritize and implement infrastructure projects that support the supply chain. A dedicated account will be created in the state treasury to fund these initiatives through grants and loans to eligible entities. The bill also sets specific goals for improving transportation infrastructure and ensuring efficient freight movement, while mandating the development of performance metrics to prioritize funding for aligned projects.

Additionally, the bill modifies the management of the treasury income account by clarifying its subject to chapter 43.88 RCW and eliminating the requirement for appropriations for payments to financial institutions. Payments will now be made before the distribution of earnings, which the state treasurer will distribute monthly to the general fund and various specified accounts based on their average daily balances. The bill introduces new provisions, including the establishment of the supply chain competitiveness infrastructure program account, and sets expiration and effective dates for certain sections, with Section 7 expiring on July 1, 2028, and Section 8 taking effect on the same date. This structure aims to enhance the efficiency and transparency of treasury operations while ensuring that various state accounts benefit from generated earnings.