The bill establishes an abortion savings program in Washington State, which aims to provide grants to maintain access to direct patient abortion clinical care services. It introduces a new section to chapter 48.14 RCW, requiring health carriers to pay an annual coverage assessment to the state treasurer, starting at $0.82 per coverage month in the first year and decreasing to $0.165 in subsequent years. The revenues collected will be deposited into a newly created abortion savings account under chapter 43.70 RCW. The bill also outlines penalties for non-compliance by health carriers and ensures that the assessment costs cannot be passed on to enrollees. The program is designed to support equitable access to abortion services, particularly for individuals lacking sufficient resources, with at least 85% of appropriated funds awarded as grants.

Additionally, the bill amends existing regulations regarding the treasury income account, clarifying its management and the distribution of earnings. It specifies that the newly inserted abortion savings account will receive its proportionate share of earnings based on average daily balances, with the state treasurer responsible for monthly distributions. The bill reinforces that no treasury accounts or funds can be allocated earnings without explicit directives, ensuring compliance with constitutional requirements. Furthermore, it outlines expiration dates for specific provisions, with some sections expiring as early as July 1, 2028, while others are contingent upon the expiration of RCW 74.76.040. Overall, the bill aims to clarify the distribution of earnings from state funds while ensuring continued access to abortion care in Washington State.