The bill amends existing laws concerning the distribution of earnings from the treasury income account, specifically incorporating the "Interstate 5 bridge replacement project toll facility bond retirement account" into the list of accounts eligible to receive earnings. It reenacts and amends RCW 43.84.092, which governs the allocation of earnings from surplus balances in the state treasury. The state treasurer is responsible for the monthly distribution of these earnings, ensuring that various accounts and funds receive their proportionate share based on their average daily balance. The bill also clarifies that no appropriation is necessary for refunds or allocations of interest earnings as mandated by the federal Cash Management Improvement Act.

Additionally, the bill introduces new provisions regarding the expiration of certain sections, with specific expiration dates set for July 1, 2028, or January 1, 2029. It emphasizes that any state agency with independent authority over accounts not statutorily required to be held in the state treasury will receive earnings based on their average daily balance. The overall aim of the bill is to streamline the management of treasury earnings, enhance financial management related to the Interstate 5 bridge project, and ensure compliance with federal and constitutional requirements.