To allow the University of Washington and Washington State University the authority to borrow and incur debt without legislative authorization. Repayments must be limited to local nonappropriated university funds. The state’s general fund cannot be used for any repayments.   Official Text and Analysis.

To remove language that required bonds to be rated no lower than the lowest subcategory of the single "A" rating category by at least one nationally recognized credit rating agency. The scope of the annual reporting requirement was expanded to include additional summary level information.