summary
Introduced
02/03/2025
02/03/2025
In Committee
02/03/2025
02/03/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT Relating to eliminating the office of financial management 2 and recovering approximately $27.8 million of the $30 million the 3 office of financial management misallocated in the 2023-2025 budget 4 cycle; adding a new section to chapter 43.41 RCW; creating a new 5 section; repealing RCW 43.41.030, 43.41.040, 43.41.050, 43.41.060, 6 43.41.070, 43.41.080, 43.41.100, 43.41.102, 43.41.104, 43.41.106, 7 43.41.110, 43.41.113, 43.41.120, 43.41.160, 43.41.170, 43.41.180, 8 43.41.260, 43.41.270, 43.41.275, 43.41.391, 43.41.392, 43.41.393, 9 43.41.394, 43.41.399, 43.41.400, 43.41.405, 43.41.410, 43.41.415, 10 43.41.420, 43.41.423, 43.41.425, 43.41.430, 43.41.433, 43.41.435, 11 43.41.440, 43.41.450, 43.41.455, 43.41.460, 43.41.470, 43.41.472, and 12 43.41.970; and providing an effective date. 13
AI Summary
This bill eliminates the Office of Financial Management (OFM), a state government agency, and redistributes its functions and responsibilities to three other state offices: the Department of Revenue, the State Auditor's Office, and the State Treasurer's Office. The bill aims to recover approximately $27.8 million of a $30 million misallocation during the 2023-2025 budget cycle by dismantling the OFM. Under the proposed legislation, all existing powers, duties, and functions currently performed by the OFM will be transferred to these three agencies, including budget preparation, fiscal analysis, and financial management. This transfer encompasses not just responsibilities, but also physical assets like documents, equipment, and furniture, as well as ongoing contracts and pending business. All existing rules and obligations will remain in force, with the three specified offices taking over their execution. The bill also repeals over 40 specific state laws related to the OFM's operations, effectively removing the legal framework for the agency's existence. The proposed changes will take effect on July 1, 2026, providing a transition period for the redistribution of responsibilities and assets.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
First reading, referred to Appropriations. (on 02/03/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://app.leg.wa.gov/billsummary?BillNumber=1794&Year=2025&Initiative=false |
| BillText | https://lawfilesext.leg.wa.gov/biennium/2025-26/Pdf/Bills/House%20Bills/1794.pdf |
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