Concerning the investment of gifts, grants, conveyances, bequests, and devises of the University of Washington.

HB 2565 requires the University of Washington to move its investment portfolios for gifts, grants, bequests, and other donations into the state's investment board instead of using its separate investment management company. The bill cites that the state board charges lower fees (0.51% vs. UW's 0.90%) and achieves higher returns (8.9% vs. UW's 6.8%) based on 2024 data. It amends state law to allow UW to place these specific assets with the state investment board under existing rules. The bill directly affects how UW manages its restricted investment funds, eliminating a separate UW investment entity. This change aims to reduce costs and align UW's investment management with the state's proven, lower-cost system.