Bill > HB1202

This bill authorizes the state of Washington to issue $4,869,147,000 in general obligation bonds to finance various capital and infrastructure projects for the 2023-2025 and 2025-2027 fiscal biennia. The bonds will be managed by the state finance committee and cannot be sold without prior legislative appropriation. The bond proceeds will be divided between the state building construction account ($4,314,527,000) and the state taxable building construction account ($554,620,000), with provisions allowing flexible transfers between accounts to optimize financing and comply with federal tax regulations. The bonds will be transferred to several specific accounts, including the outdoor recreation account, habitat conservation account, farm and forest account, and early learning facilities accounts. The state pledges its full faith and credit to repay these bonds, with principal and interest payments to be drawn from general state revenues and deposited into the debt-limit general fund bond retirement account. The bill includes standard legal provisions such as a severability clause and an emergency clause making it effective immediately, and it is added to chapter 43.100A of the Revised Code of Washington.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=1202&Year=2025&Initiative=false