This bill mandates that all private entities receiving state-funded grants must publicly disclose specific information within five business days of being awarded the grant. The required disclosures include the names and wages of all employees, the names and compensation of board members, any political contributions made in the last four election cycles, the names of any lobbyists associated with the entity, and a detailed accounting of how the grant funds were utilized. Additionally, state agencies that award these grants are responsible for ensuring compliance with these disclosure requirements, and failure to comply will result in the forfeiture of the grant and a requirement to reimburse the awarded funds.

The bill introduces a new chapter in Title 19 RCW, defining key terms such as "agency," "grant," and "private entity." It clarifies that "agency" encompasses both state and local agencies, while "grant" excludes business transactions for goods and services. This legislation aims to enhance transparency and accountability for private entities that benefit from state funding.