This bill amends and reenacts multiple existing statutes governing local infrastructure and revitalization financing (including RCW 39.89.020, RCW 39.102.020, RCW 39.104.020, and RCW 39.114.010) to update definitions and what counts as allowable public improvements. Across the affected sections, "public improvements" are explicitly defined to include permanently affordable housing and "public safety facilities" (defined as facilities, structures, improvements, or equipment used to provide police, fire, emergency medical, or other public safety services). The bill also expands and clarifies the list of "public improvement costs" to include acquisition, construction, rehabilitation, financing costs, administrative and feasibility studies, demolition, relocation, utility relocation, and specific housing-related costs. The changes are amendments to existing law and are primarily definitional and procedural: they revise how increment and tax allocation values are calculated (for example, RCW 39.114.010 defines "increment value" as 100% of increases in true and fair value placed on the rolls after an increment area takes effect, while other sections treat property tax allocation revenue value as 75% of certain assessed-value increases tied to new construction or rehabilitations), specify allowable financing and capitalized interest rules (capitalized interest limited to up to six months after construction completion in RCW 39.114.010), and set or restate annual state contribution limits in the various program sections. The bill also defines eligible geographic areas and revenue sources, clarifies assessor and treasurer expense treatment as actual staff and software costs related to implementation and administration, and requires written permission from the owning agency and the Office of Financial Management before relocation or construction of a government-owned facility may qualify as a public improvement. Some extracted material is incomplete or shows differing amounts in different sections: RCW 39.102.020 is described as having an annual state contribution limit of $7,500,000 statewide per fiscal year, RCW 39.104.020 is described with an annual state contribution limit of $2,500,000 plus demonstration project amounts, and another extracted passage refers to a $500,000 state contribution cap in a related definition; the full statutory context and any operative provisions not shown in the provided excerpts are not included here, and the precise interplay or final amounts where these figures conflict is therefore uncertain from the provided text.

If enacted, the bill makes police, fire, emergency medical, and similar public safety buildings, equipment, and services explicit, eligible uses of local tax-increment and related revitalization financing alongside permanently affordable housing in several local infrastructure programs. That means cities, counties, port districts, and sponsoring revitalization authorities can more readily use increment revenues, local excise tax increments, bonds, or pay-as-you-go revenues to acquire, build, rehabilitate, retrofit, and finance public safety facilities and long-term affordable housing; financing costs, certain pre-ordinance expenses, and limited capitalized interest (up to six months in one section) are also allowable project costs, while increment calculations vary across programs (some use a 75% factor, one section uses 100%). Local governments, sponsoring and participating jurisdictions, housing providers, and public safety agencies are the most affected because they gain a new funding option to deliver facilities without relying solely on traditional capital budgets. Taxing districts could see portions of future regular property tax revenues redirected to these projects, which the statutes address through mitigation and interlocal agreements but may still change local revenue flows and require administrative work by county assessors, treasurers, and state boards or departments to implement. The text provided leaves key procedural details and some definitions incomplete (including parts of the property tax allocation value definition and differing state contribution caps across programs), so the exact limits, eligibility timelines, and application requirements are not fully clear from these excerpts.