Imposes a 5% capital gains tax on every person for the privilege of selling or exchanging capital assets, fund educational programs and services. This act establishes certain indicators of educational progress. This act appropriates $55 million for early learning programs, $220 million to reduce K-3 class sizes to 17, $6 million to the readiness to learn program, $89 million to implement all-day kindergarten, and $175 million for higher education. As provided in the Washington State Constitution, the capital gains tax must be approved by the voters.   Official Text and Analysis.