The bill establishes a public interest law grant program aimed at supporting new lawyers working as prosecutors or public defenders in Washington State. It creates a new section in chapter 28B.77 RCW, which outlines the program's purpose of providing annual student loan payoff grants of up to $10,000 for each year of public service completed. The program will be funded through contributions from eligible law firms, which will receive a business and occupation tax credit equal to their contributions, capped at $20,000 annually. The council will administer the program, including the approval of applicants and the distribution of grants, with the first grants expected to be issued by July 1, 2027.

Additionally, the bill introduces a new section in chapter 82.04 RCW that details the tax credit for contributions made to the public interest law program account, effective January 1, 2027. The credit is designed to alleviate the financial burden of student loans for lawyers in public service roles and is subject to specific reporting requirements. The program and tax credit are set to expire on December 31, 2038, unless extended based on the program's performance. The bill emphasizes the need for innovative solutions to ensure adequate public defense funding and to attract new lawyers to these essential roles.