This bill adds a new section to chapter 43.79 RCW that requires the state treasurer to make specified transfers between the budget stabilization account and the state general fund. It is a procedural change that creates a new statutory duty for the treasurer rather than changing penalties or creating a crime. The required transfers are: $1,632,500,000 from the budget stabilization account to the state general fund by June 15, 2026; $816,250,000 from the state general fund to the budget stabilization account by June 30, 2028; and $816,250,000 from the state general fund to the budget stabilization account by June 30, 2029. The provision states these transfers do not alter the requirement to balance in ensuing biennia for purposes of RCW 43.88.055(4). The Office of Financial Management requested the bill and it would affect the state treasurer, the budget stabilization account, and the state general fund. The text provided does not include the statutory language of RCW 43.88.055(4) or definitions and administrative procedures for executing the transfers, so the exact implications of the balancing requirement and other operational details cannot be determined from these facts alone.

If enacted, the treasurer must move $1,632,500,000 out of the budget stabilization account into the state general fund by June 15, 2026, and then return that same amount in two equal payments of $816,250,000 on June 30, 2028 and June 30, 2029. Practically, this gives the state general fund a large, temporary cash boost in mid‑2026 that can be used for one‑time spending or to reduce short‑term borrowing, while the budget stabilization account will be smaller until it is rebuilt by the scheduled repayments. The people most affected are state budget officials and the state treasurer (who must execute the transfers), along with any programs that rely on general fund availability or on the budget stabilization account as a reserve. Short‑term options for spending or financing are expanded in 2026, but the reserve is reduced and the state will face the fiscal impact of repaying those amounts in 2028 and 2029, which could constrain future budgets. The bill also says these moves do not change the requirement to balance future biennia under RCW 43.88.055(4), but the exact implications of that sentence are unclear here because the referenced statute text is not included.