wa-law.org > bill > 2025-26 > SB 5872 > Original Bill
The preK promise account is created in the custody of the state treasurer to be used solely and exclusively for the early childhood education and assistance program established in RCW 43.216.510. All receipts from any gifts, grants, or donations received by the secretary for the preK promise account must be deposited into the account. Only the secretary may authorize expenditures from the account. The account is subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.
The department shall track funds received through gifts, grants, or donations separately for each organization or entity that deposits funds into the account. Expenditures from the account may be used only to support eligible children in the early childhood education and assistance program established in chapter 43.216 RCW.
Any residue in the account must be accumulated and may not revert to the general fund at the end of the biennium.
(1) Money in the treasurer's trust fund may be deposited, invested, and reinvested by the state treasurer in accordance with RCW 43.84.080 in the same manner and to the same extent as if the money were in the state treasury, and may be commingled with moneys in the state treasury for cash management and cash balance purposes.
(1) Money in the treasurer's trust fund may be deposited, invested, and reinvested by the state treasurer in accordance with RCW 43.84.080 in the same manner and to the same extent as if the money were in the state treasury, and may be commingled with moneys in the state treasury for cash management and cash balance purposes.
Sections 1 and 2 of this act are necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and take effect immediately.
Section 2 of this act expires July 1, 2030.
Section 3 of this act takes effect July 1, 2030.