Authorizing the public works board to issue bonds for the purpose of financing public works infrastructure projects.

HB 2021 authorizes Washington's Public Works Board to issue bonds repaid solely by project revenue (not state funds) to finance infrastructure projects for local governments. It directly affects cities, counties, and special districts needing to build or repair roads, bridges, water systems, sewage systems, and solid waste facilities. The bill amends state law to allow these nonrecourse bonds, creating a new financing tool to address over $4 billion in unmet infrastructure needs identified by the legislature. This provides affordable, project-specific funding without using taxpayer money or state credit.