Bill > SB5392

This bill addresses Washington state's fiscal challenges by temporarily transferring funds from the Budget Stabilization Account (BSA), also known as the state's "rainy day fund," to the state General Fund to support critical services. Specifically, the bill authorizes the state treasurer to transfer $1,632,500,000 from the BSA to the General Fund by June 15, 2026, with a commitment to fully repay this amount within three years. The repayment will occur in two equal installments of $816,250,000, scheduled for June 30, 2028, and June 30, 2029. The legislature justifies this transfer by citing increasing costs of services and the need to maintain support for health, general welfare, and public safety. The bill includes a provision ensuring that these transfers do not impact the state's requirement to balance its budget in future budget periods, thus maintaining fiscal responsibility while providing short-term financial flexibility.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5392&Year=2025&Initiative=false