Bill > HB2186

This bill aims to bolster economic development in Washington by improving the state's ability to secure federal funding. It encourages the Department of Commerce to seek private donations and reallocate existing funds that would otherwise be lost at the end of a fiscal period to serve as matching funds for federal grant applications. The bill also modifies existing law to clarify that the department's role in providing an inventory of grant opportunities is contingent on appropriated funds, and it removes some previously outlined responsibilities for the department in assisting grant applicants. Furthermore, it establishes criteria for awarding these matching funds, prioritizing projects with significant economic impact, those that cannot secure funding from other state sources, and those that will not require ongoing state support, with a particular emphasis on rural and frontier counties. A dedicated account, the "moving assets to create healthy economic development account," will be established to hold these matching funds, which can be accessed by the director of the Department of Commerce for approved economic development projects. The bill will become void if specific funding for its purposes is not provided by June 30, 2026.

Budget and Finance, Business and Industry

https://app.leg.wa.gov/billsummary?BillNumber=2186&Year=2025&Initiative=false