Rebalancing statutory fund transfers and revenue dedications for transportation.

Added a new tax deferral program allowing private entities and the Department of Transportation to defer sales and use taxes on construction costs for the SR 16 corridor improvements, with repayment due by June 30, 2026.

Added a new tax deferral program allowing applicants to defer sales and use taxes on construction costs for the SR 520 bridge replacement and HOV project, with repayment due by June 30, 2026.

Extended the duration for transferring funds to the Move Ahead WA flexible account from fiscal years 2024-2025 to fiscal years 2024-2038, increasing the total funding obligation.

Corrected the effective date of the emergency clause to reflect the new sections added to the bill.

The bill's bill number changed from S-2645.3 to S-3221.1, and the 'Read First Time' date was updated from April 5, 2025, to April 19, 2025.

The effective date for Sections 2 and 3 was changed from July 1, 2026, to July 1, 2025.

The bill was transferred from the Senate Transportation Committee to the Senate Ways & Means Committee.

New funding requirement added to transfer $111,896,000 from the multimodal transportation account to the general fund for fiscal year 2026.

Funding transfers to the Move Ahead WA flexible account were restructured, adding specific exclusions for fiscal years 2024, 2025, and 2028-2038 while maintaining the $57 million annual transfer.

New funding requirement added to transfer $304,691,000 from the general fund to the multimodal transportation account for fiscal years 2028 and 2029.

The dedicated sales tax rate for multimodal transportation was reduced from 0.3% to 0.1% of the selling price starting July 1, 2027.

The dedicated use tax rate for multimodal transportation was reduced from 0.3% to 0.1% of the value of the article used starting July 1, 2027.

The Tacoma Narrows toll bridge account transfer from the general fund was shortened to end in July 2025 instead of July 2032.