HB 2448 — State expenditure limit

Summary

Reinstating a state expenditure limit to promote sustainable budgets and create permanent tax relief for all Washingtonians.

Bill Text

Compared against the Revised Code of Washington as published AI-generated reading aid — verify against the official bill.

This bill amends 3 section(s) of the Revised Code of Washington: RCW 43.135.025; RCW 43.88.290; RCW 82.32.385.

• RCW 43.135.025

  growth in state personal income for the prior ten → (1) Each November, the economic and revenue forecast council shall calculate the fiscal growth factor for each fiscal year of the current biennium and the ensuing biennium. (2) The definitions in this subsection apply throughout this chapter unless the context clearly requires otherwise. (a) "Fiscal growth factor" means the average of the sum of inflation and population change for each of the prior three fiscal years. (b) "General fund" means the state general fund. (c) "Inflation" means the percentage change in the consumer price index for all urban consumers for the Seattle-Tacoma-Bellevue area, or successor index, for each fiscal year as published by the federal bureau of labor statistics. (d) "Population change" means the percentage change in state population for each fiscal year as reported by the office of financial management. (e) "Related funds" means the Washington opportunity pathways account, the workforce education investment account, the fair start for kids account, and the education legacy trust account.

  amended

• RCW 43.88.290

  follows: tate officer or employee shall inte end or over-encumber any appropriat account for any expenditures by exceed the state expenditure limit;

  amended

• RCW 82.32.385

  treasurer must transfer from the general fund to the connecting Washington account created in RCW 46.68.395 $11,658,000. (3) Beginning September 2027 and ending June 2029, by the last day of September, December, March, and June of each year, the state treasurer must transfer from the general fund to the connecting Washington account created in RCW 46.68.395 $7,564,000. (4) Beginning September 2029 and ending June 2031, by the last day of September, December, March, and June of each year, the state treasurer must transfer from the general fund to the connecting Washington account created in RCW 46.68.395 $4,056,000. (5) For fiscal year 2026 through fiscal year 2038, the state treasurer must transfer from the general fund to the move ahead WA flexible account created in RCW 46.68.520 $31,000,000 each fiscal year in four equal quarterly transfers. This amount represents the estimated state sales and use tax generated from new transportation projects and activities funded as a result of chapter 182, Laws of 2022. (6)(a) For fiscal year 2024, fiscal year 2025, and fiscal year 2028 through fiscal year 2038, the state treasurer must transfer from the general fund to the move ahead WA flexible account created in RCW 46.68.520 $57,000,000 each fiscal year in four equal quarterly transfers. (b) For fiscal year 2026, the state treasurer must transfer from the multimodal transportation account created in RCW 47.66.070 to the general fund $114,000,000 in four equal quarterly transfers. (7) For fiscal year 2028 and fiscal year 2029, the state treasurer must transfer from the general fund to the multimodal transportation account created in RCW 47.66.070 $304,691,000 each fiscal year in four equal quarterly transfers. (8) Transfers in this section do not constitute a money transfer pursuant to section 2 of this act.

  amended

Action History

1. January 13, 2026

   First reading, referred to Appropriations.

Sponsors

• (Couture) · Primary

Subjects