The bill amends RCW 28A.500.015 to increase local effort assistance funding for school districts in Washington State, with the changes taking effect on January 1, 2027. The annual local effort assistance funding will be provided to supplement school district enrichment levies, with specific calculations based on the actual enrichment levy rate. For eligible school districts with a levy rate below $1.50 per $1,000 of assessed value, the funding will be proportional to their actual levy rate. For those with a rate at or above $1.50, the funding will equal the maximum local effort assistance. Additionally, state-tribal education compact schools will receive funding based on the previous year's enrichment levy per student, capped at $2,692.74, which will be adjusted for inflation starting in 2028.

The bill also updates definitions related to local effort assistance, including the state local effort assistance threshold, which is set at $2,692.74 per student, increased for inflation beginning in 2028. The language regarding inflation has been revised to reference the consumer price index for urban consumers in the Seattle area. Other definitions, such as "eligible school district" and "maximum local effort assistance," have been clarified to ensure proper implementation of the funding provisions. Overall, the bill aims to enhance financial support for school districts, particularly those with lower enrichment levy rates, while also addressing the needs of state-tribal education compact schools.