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WashingtonHB 19582025-2026 Regular SessionHouseWALLET

Concerning the interstate bridge replacement toll bond authority.

Sponsored By: Jake Fey (Democratic)

Became Law

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Stronger safeguards for bridge bonds

The State Finance Committee runs bond sales and cannot offer bonds without a prior legislative appropriation of the sale’s net proceeds. Bond money goes into the I-5 bridge project account and can pay for design, land, building, interest, reserves, and issuance costs. A bond retirement account is created, and by June 30 each year the committee certifies how much principal and interest is due. The committee can set bond rules and promises on maintenance, reserves, and payment order; WSDOT must approve some operating rules, and bondholders can enforce duties in court. The law also clarifies what counts as toll revenue, including interest and some grants, and only pledged amounts secure a bond.

I-5 bridge bonds and who pays

The law authorizes up to $2.5 billion in state bonds to replace the I-5 bridge. Debt is paid first from bridge tolls. If tolls are not enough, fuel excise taxes and vehicle license fees can be used. The State Finance Committee may choose toll-only bonds that are repaid only from tolls. The Treasurer uses toll money first, then motor-vehicle-fund fuel and fee dollars if needed, and must repay any taken shares later. Bonds that use those excise taxes share the same legal claim on that revenue.

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Sponsors & Cosponsors

Sponsor

  • Jake Fey

    Democratic • House

Cosponsors

  • Janice Zahn

    Democratic • House

  • Sharon Wylie

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 96 • No: 48

Senate vote • 4/23/2025

3rd Reading & Final Passage

Yes: 35 • No: 13

House vote • 4/18/2025

3rd Reading & Final Passage

Yes: 61 • No: 35 • Other: 2

Actions Timeline

  1. Effective date 7/27/2025.

    5/20/2025House

  2. Chapter 400, 2025 Laws.

    5/20/2025House

  3. Governor signed.

    5/20/2025legislature

  4. Delivered to Governor.

    4/25/2025legislature

  5. President signed.

    4/24/2025legislature

  6. Speaker signed.

    4/23/2025legislature

  7. Rules suspended. Placed on Third Reading.

    4/23/2025House

  8. Third reading, passed; yeas, 35; nays, 13; absent, 0; excused, 0.

    4/23/2025House

  9. Read first time, rules suspended, and placed on second reading calendar.

    4/21/2025House

  10. Third reading, passed; yeas, 61; nays, 35; absent, 0; excused, 2.

    4/18/2025House

  11. Rules suspended. Placed on Third Reading.

    4/18/2025House

  12. 1st substitute bill substituted.

    4/18/2025House

  13. Rules Committee relieved of further consideration. Placed on second reading.

    4/16/2025House

  14. Referred to Rules 2 Review.

    4/8/2025House

  15. TR - Executive action taken by committee.

    4/7/2025House

  16. Minority; do not pass.

    4/7/2025House

  17. TR - Majority; 1st substitute bill be substituted, do pass.

    4/7/2025House

  18. Minority; without recommendation.

    4/7/2025House

  19. First reading, referred to Transportation.

    2/12/2025House

  20. Prefiled for introduction.

    2/11/2025House

Bill Text

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