Bill > HB1471

This bill addresses the state's fiscal challenges by creating a temporary transfer of funds from the Budget Stabilization Account (BSA), also known as the state's "rainy day fund," to the State General Fund. Specifically, the bill authorizes the state treasurer to transfer $1,632,500,000 from the BSA to the General Fund by June 15, 2026, to help maintain critical services supporting Washington state's health, welfare, and public safety. The bill mandates a full repayment of these transferred funds, requiring the state to return $816,250,000 to the BSA on June 30, 2028, and another $816,250,000 on June 30, 2029. The legislature acknowledges increasing service costs and utilization as the rationale for this financial maneuver, and importantly, specifies that this transfer and subsequent repayment will not alter the state's requirement to balance its budget in future budget periods. This approach provides immediate fiscal relief while ensuring the state's long-term financial stability by committing to fully replenish the Budget Stabilization Account within three years.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=1471&Year=2025&Initiative=false