The proposed bill aims to prohibit elected officials and their spouses from holding employment or any beneficial interest in private entities that receive state funding. A new section is added to chapter 42.52 RCW, which outlines that no elected official or their spouse may be employed by, contract with, or receive payment for services from a private entity that benefits from state funds. However, this restriction does not apply to employment at public agencies.

The bill also provides specific definitions for terms used within the section, clarifying what constitutes an "agency," "beneficial interest," "elected official," and "private entity." These definitions ensure a clear understanding of the scope of the law and its application to various public and private entities. Overall, the legislation seeks to enhance transparency and prevent conflicts of interest among elected officials and their families.