This bill renames the act the "wildfire alleviation support act" and amends existing tax law (RCW 82.04.29005) to make amounts received as interest on loans originated by a "high volume mortgage lender" or an affiliate, and primarily secured by first mortgages or trust deeds on nontransient residential properties subject to tax under RCW 82.04.290(2)(a). It defines "high volume mortgage lender" as either a specified financial institution under RCW 82.04.29004 or any person with at least $10,000,000,000 in annual closed mortgage originations reported under the federal Home Mortgage Disclosure Act in the prior calendar year. "Affiliate" and "interest" are tied to existing RCW definitions (RCW 82.04.645 and RCW 82.04.4292, with "interest" expressly including certain servicing fees). The bill also adds a new procedural requirement in chapter 82.32 RCW: by October 15, 2027, and each October 15 thereafter, the (unnamed) department must estimate any increase in state general fund revenue for the immediately preceding fiscal year resulting from the change to RCW 82.04.29005 and promptly notify the state treasurer. Beginning November 1, 2027, and each November 1 thereafter, the state treasurer must transfer the estimated amount from the general fund into the wildfire response, forest restoration, and community resilience account (RCW 76.04.511). Once the treasurer makes a distribution based on an estimate, the department may not later adjust that estimate. The act takes effect July 1, 2026. This is a modification of existing tax law combined with a new fiscal procedure directing estimated revenue transfers to a named wildfire account; it does not create a new crime or change criminal penalties. The text repeatedly refers to "the department" without naming which department is responsible, relies on definitions located in other RCW sections, and references a specific chapter/section citation that is incomplete in the provided facts, so some implementation details and the full scope of referenced definitions are unclear from the extracted information.

If enacted, the bill makes interest and certain servicing fees on home loans originated by very large mortgage lenders (including institutions with $10 billion or more in annual HMDA originations or specified financial institutions) and their affiliates subject to the referenced tax treatment, which is likely to raise state revenue. That change will most directly affect those big lenders and their affiliates by increasing their tax exposure on interest and servicing fees for first-mortgage loans on nontransient residential properties, and it will likely channel additional money from the state general fund into the wildfire response, forest restoration, and community resilience account. The bill also creates a new annual process: an unnamed department must estimate the prior fiscal year revenue increase by October 15 and notify the state treasurer, who must transfer the estimated amount from the general fund to the wildfire account by November 1; the department cannot revise an estimate after a transfer. This imposes new forecasting and reporting duties on state officials and creates timing and accuracy risks for the general fund and the wildfire account if estimates are incorrect. Key details remain unclear because the measure relies on definitions and procedures in other RCWs and does not identify which department is responsible.