Requires the department of commerce to: (1) Contract with a statewide nonprofit organization to provide services and/or make grants to entities pursuant to a contract to foster growth of the state's life science sector; and

(2) Improve the health and economic well-being of its residents.

Requires the organization to be a statewide organization established with a primary mission of growing and sustaining the life science ecosystem within the state.

Allows the department to: (1) Also contract with the organization to monitor and collect life science discovery fund grant payback funds; and

(2) Authorize expenditures from the life sciences discovery fund.

Repeals or recodifies chapter 43.350 RCW regarding life sciences research.