This bill seeks to improve the coordination and alignment of Washington's P20W system, which includes early learning, K-12 education, postsecondary education, and workforce development. It establishes a partnership between the state and philanthropic organizations to identify and support initiatives across the P20W continuum, emphasizing the importance of shared metrics for assessing progress and accountability. Key provisions include the creation of the P20W public-private partnership account, which will receive funding from various sources, and the formation of an advisory committee to align philanthropic contributions with state investments. Additionally, a public-facing data dashboard will be established to track performance and outcomes, promoting transparency in educational progress for diverse student populations.

The bill also modifies the distribution of earnings from the investment income account governed by chapter 43.88 RCW, specifying that no appropriation is needed for payments to financial institutions, which must occur before earnings are distributed to the state general fund. It outlines how various accounts, including the newly created P20W public-private partnership account, will receive their share of earnings based on average daily balances, with certain accounts designated to receive 80 percent of their proportionate share. The bill includes expiration and effective dates for specific sections, with Section 4 set to expire on July 1, 2030, and Section 5 taking effect on the same date, ensuring effective management of earnings distribution in line with constitutional requirements.