Finds that, in 1988, the citizens of the state of Washington created by initiative the model toxics control act. The primary purpose of this act, as stated in its intent, is to raise sufficient funds to clean up all hazardous waste sites and to prevent the creation of future hazards due to improper disposal of toxic wastes into the state's lands and waters. The legislature reaffirms this purpose.

Finds that global economic trends and events since 1988 have caused the funds raised by the model toxics control act to shift in a cyclical manner. The intent of this act is to accelerate clean-up efforts throughout Washington with the goal of cleaning up all currently-known sites within ten years, to create the financing tools to clean up large-scale hazardous waste sites that require multi-year commitments of funding and effort, and to ensure that the state continue its efforts to ensure the long-term ecological health of Puget Sound's sediments and shorelines.