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HB 1473

Making expenditures from the budget stabilization account for declared catastrophic events.

2025-2026 Regular Session Introduced by Lisa Callan and 2 co-sponsors

Washington law now permits emergency withdrawals from the state's rainy day fund to pay for declared catastrophic disasters, enabling faster disaster response without legislative supermajority requirements.

Effective date 5/17/2025.
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Bill Summary · HB 1473

Legislative bill overview

HB 1473 authorizes the state of Washington to withdraw funds from its Budget Stabilization Account (rainy day fund) to respond to declared catastrophic events. The bill establishes a mechanism for emergency spending without requiring a supermajority vote or waiting for regular budget cycles when disasters occur.

Why is this important

Washington's Budget Stabilization Account exists to provide fiscal cushion during economic downturns, but this bill repurposes it for immediate disaster response—redirecting resources from economic protection to emergency relief. This shifts the fund's role and could affect the state's financial resilience during recessions if catastrophic events deplete reserves before economic recovery is needed.

Potential points of contention

  • Definition ambiguity: "Declared catastrophic events" may lack precise definition, potentially allowing discretionary spending interpretations and political disagreement over what qualifies
  • Fund depletion risk: Using emergency reserves for disasters could leave the state vulnerable during simultaneous economic crises, compounding financial stress
  • Bypass of normal appropriations: Enabling direct withdrawals may circumvent standard legislative budget oversight and public input processes typically applied to major expenditures

Compiled from official sources — confirm details with the bill’s official record.

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