Bill > SB5194

This bill authorizes the state of Washington to issue $4,686,979,000 in general obligation bonds to finance capital projects outlined in the omnibus capital and operating appropriations acts for the 2023-2025 and 2025-2027 fiscal biennia. The bond proceeds will be deposited into two accounts: $4,123,420,000 in the state building construction account and $563,559,000 in the state taxable building construction account. The state treasurer is authorized to transfer these funds to specific accounts including the outdoor recreation account, habitat conservation account, farm and forest account, and Ruth LeCocq Kagi early learning facilities development account, as needed to support authorized expenditures. The bonds will be a general obligation of the state, pledging the full faith and credit of Washington to repay the principal and interest. The state finance committee will certify the amount needed annually for bond retirement, and the state treasurer will withdraw funds from general state revenues to make these payments. The bill includes provisions allowing for additional means of raising money for bond repayment and contains a severability clause to ensure that if any part of the act is found invalid, the rest remains in effect. The act is declared an emergency measure and takes effect immediately upon approval.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5194&Year=2025&Initiative=false