This bill establishes a pilot program aimed at advancing funds to public benefit nonprofit corporations that have received grants from the Department of Commerce. The program is designed to enhance local capacity by providing advance funding to eligible grant recipients who demonstrate a need for such funding to fulfill their grant obligations. The Department is required to develop equity-driven procedures for assessing need and to prioritize applicants with an average annual budget of less than $5 million. Eligibility criteria include having received a department grant within the last six months, satisfactory performance on previous grants, and a minimum of three years in the relevant business.

Additionally, the bill amends RCW 39.34.150 to authorize the Department of Commerce to advance funds to these nonprofits until June 30, 2028, under an approved contract. Advance payments are capped at 25% of the grant amount or $100,000, whichever is less, and must be deducted from the total grant awarded. The Department is also tasked with submitting a report by September 1, 2027, evaluating the program's outcomes and making recommendations for its future. The bill includes a provision ensuring that if any part of it is found invalid, the rest remains unaffected.

Statutes affected:
Original Bill: 39.34.150