This bill creates a new "preK promise account" in the custody of the state treasurer to be used solely for the early childhood education and assistance program in RCW 43.216.510. All gifts, grants, or donations received by the secretary for that program must be deposited into the account, the department must track deposits separately by depositing organization, only the secretary may authorize expenditures from the account, expenditures are subject to allotment procedures under chapter 43.88 RCW but do not require an appropriation, and any balance must be accumulated and may not revert to the general fund at the end of the biennium. The bill reenacts and amends RCW 43.79A.040 to require the state treasurer to set aside investment income in an "investment income account," pay purchased banking services from that account before distributing earnings, and distribute earnings monthly to the state general fund except as otherwise provided. The amendment adds the preK promise account to the list of accounts that receive a proportionate share of earnings from the investment income account based on each account’s average daily balance, and it provides that agencies with independent authority that deposit funds into treasurer-custodied accounts under agreement receive proportionate earnings. The act also specifies that a certain subset of named accounts and funds must receive 80 percent of their proportionate share of earnings; among those listed are the advance right-of-way revolving fund, advanced environmental mitigation revolving account, federal narcotics asset forfeitures account, high occupancy vehicle account, local rail service assistance account, and miscellaneous transportation programs account. The act affirms that trust accounts or funds will not be allocated earnings without a specific affirmative directive, consistent with Article II, section 37 of the Washington State Constitution. Important contextual gaps in the provided text: the secretary and the department are not identified by office, the full list of accounts in the earnings-allocation section is incomplete, the bill caption refers to an effective date, an expiration date, and an emergency but the specific provisions are not included here, and the bill contains multiple reenactments/amendments to RCW 43.79A.040 without explanation in the extracted material.

If enacted, the bill creates a new state-held "preK promise account" to collect gifts, grants, and donations that will be used only for the state's early childhood education and assistance program. Those donations must be deposited into that account, held by the state treasurer, and tracked separately by the depositing organization; the named "secretary" would be the only person who can authorize spending. Money in the account does not revert to the general fund at the end of a biennium and can be spent without a separate legislative appropriation (though allotment rules still apply), so the early childhood program should have a more stable, continuously available source of donated funding and faster access to those dollars, with centralized spending control. The state treasurer must include the new account when allocating investment earnings and must pay banking service costs from investment income before distributing earnings; some other listed accounts will receive a specified 80 percent share of their proportionate earnings. Practically, the early childhood program, the secretary who will authorize expenditures, the department responsible for tracking deposits, and the state treasurer will see increased responsibilities and some administrative work. Important details are missing from the provided text — for example, the specific offices referred to as "the secretary" and "the department," the remainder of the account list, and how some sections align with the stated effective and expiration dates — so a full sense of timing and all affected parties cannot be confirmed from these excerpts alone.