This bill creates a new state treasury account called the climate commitment account to receive moneys distributed from the climate investment account (RCW 70A.65.250). It lists many eligible climate-related projects, programs, and activities that must be physically located in Washington, prohibits spending from the account that would violate tribal treaty rights or cause significant long-term damage to critical habitat, and requires that account moneys be spent only after appropriation. The bill authorizes appropriations from that account for environmental justice activities during the 2023–2025 and 2025–2027 biennia and expresses a legislative intent to dedicate at least $50,000,000 per biennium for tribal relocation and adaptation capital investments. The bill also amends existing K–12 funding law (RCW 28A.150.260 and related sections) to specify prototypical class sizes and staffing allocations, set minimum per‑student materials/supplies/operating allocations (with inflation indexing beginning 2026–27), and require new reporting and rulemaking by the Office of the Superintendent of Public Instruction (OSPI). It creates a new ongoing allocation of $95 per full‑time equivalent student beginning 2026–27 to address increased utility costs due to the Washington climate commitment act, funded from the climate commitment account, and limits spending uses for certain increased allocation amounts. The changes also include detailed minimum staff FTE ratios, enhanced funding formulas for laboratory science and career and technical education courses, and requirements that OSPI publish and districts link to per‑pupil allocation reports. Procedural changes include OSPI rulemaking and data collection requirements (including new reporting of disaggregated materials/supplies/operating expenditures beginning 2026–27), a biennial review of the basic education distribution formula by the superintendent and governor (subject to legislative approval), monthly OFM review of reported FTE students, and transitional rules for high‑poverty allocations and school meal program participation for the 2024–25 and 2025–26 school years. Some definitions and subsection contents are incomplete in the provided text (for example the prototypical elementary school definition, the full text of subsection (8) referenced for school utility offsets, and the full content of “Section 2”), so those specifics are uncertain from the extracted facts. Section 2 is stated to take effect September 1, 2026.

If enacted, the bill creates a dedicated climate commitment account to receive climate investment revenues and directs those funds, only when the Legislature appropriates them, to a wide set of Washington-only climate and equity investments — from renewable energy and industrial and agricultural emissions reductions to landfill mitigation, carbon removal, overburdened community air monitoring, and assistance for affected workers. The Legislature also signals at least $50 million per biennium for tribal relocation and adaptation, prohibits funding projects that harm treaty rights or critical habitat, and authorizes appropriations for environmental justice work in specified biennia; however, many program details and some allocation rules are left to the omnibus appropriations act and agency rulemaking, so exact amounts and priorities remain partly uncertain. School systems and OSPI are directly affected: the bill sets specific class-size and staffing formulas, establishes per-student base allocations (including $1,614.28 per FTE for materials/supplies/operating costs plus $214.84 for grades 9–12) and, beginning 2026–27, adds $95 per FTE to address higher utility costs caused by the climate law with that $95 required to come from the climate commitment account. OSPI must publish per-pupil allocation reports and collect new, disaggregated expenditure data starting 2026–27, and districts must link to those reports on their websites. Practically, many districts are likely to receive clearer, and in some cases larger, targeted funding streams for staffing, materials, utility cost increases, and program-specific needs (bilingual, high-poverty, CTE, learning assistance), but they will also face new reporting duties, compliance requirements, and some uncertainty because several implementation details depend on future budget decisions and rulemaking.