WA HB2251

Creates two new accounts to replace three existing Climate Commitment Act accounts: a Climate Commitment Act Operating Account for operating budget expenditures and a Climate Commitment Act Capital Account for capital budget expenditures, with remaining balances from repealed accounts transferred 80% to capital and 20% to carbon emissions reduction

Establishes detailed allocation formulas for auction proceeds based on revenue thresholds: when annual revenue exceeds $513,117,000, deposits $359,117,000 to carbon emissions reduction, $144,000,000 to operating account, and $10,000,000 to air quality improvement; below that threshold, proceeds split proportionally across accounts

Requires at least 25% of total biennial appropriations from both new accounts be directed to clean water and healthy forest investments, including fish passage corrections, wildfire resilience, forest health, and riparian easement programs

Mandates at least $50,000,000 per biennium for tribal climate adaptation and relocation when revenue exceeds $1 billion, and at least $10,000,000 per biennium for the forestry riparian easement program under the same revenue conditions

Maintains environmental justice requirements of 35% minimum (40% goal) of investments providing direct benefits to vulnerable populations in overburdened communities, plus 10% minimum for projects supported by Indian tribes, and shifts reporting from annual to biennial starting in the 2027-2029 biennium