This bill establishes the Youth Development Fund Account in Washington State, aimed at enhancing access to positive youth development programs. The legislature recognizes the importance of these programs in providing essential services that complement the public school system, particularly for families with working parents. The fund will facilitate public-private partnerships to incentivize philanthropic investments, ensuring that all young people, regardless of socio-economic status, can access these programs. The bill outlines the types of programs eligible for funding, including mentorship, social-emotional learning, and career readiness, and emphasizes equitable geographic distribution of grants.

The bill also details the administration of the Youth Development Fund Account, which will be managed by the superintendent of public instruction. Grants can be awarded to various entities, including nonprofit organizations and local government parks and recreation departments, with a focus on supporting youth from historically underserved groups. Additionally, the bill reenacts and amends existing laws related to the treasurer's trust fund, incorporating the Youth Development Fund Account into the distribution of earnings from the investment income account. The provisions of the bill will expire on July 1, 2030, with certain sections taking effect on that date.