The proposed bill establishes the Washington Electric Transmission Authority to improve the reliability, resilience, and affordability of the state's electric transmission system, aligning with Washington's goals of carbon neutrality by 2030 and carbon-free electricity by 2045. The authority will collaborate with utilities, local jurisdictions, and federally recognized Indian tribes to develop new transmission projects and enhance access to low-cost renewable energy. Key provisions include the formation of a board of directors, identification of high-priority transmission corridors, and the authority's ability to enter partnerships, adopt rules, and utilize eminent domain for land acquisition while ensuring the protection of cultural and natural resources.

Additionally, the bill creates a tribal clean energy partnership work group within the Department of Commerce to promote tribal involvement in clean energy development, focusing on economic development pathways and joint ownership opportunities. It establishes two new accounts in the state treasury—the electric transmission operating account and the electric transmission capital account—to manage funds for electric transmission projects. The bill also amends existing regulations regarding the treasury income account, specifying that the electric transmission capital account will receive a share of earnings from this account, thereby enhancing financial support for state initiatives. The legislation includes provisions for the distribution of earnings and outlines the responsibilities of the Department of Commerce in relation to the work group, which is required to submit reports on its findings by the end of 2027.