Finds that tidal and wave energy is a renewable energy resource, and that Washington's coastal areas and estuaries provide an abundance of potential resources for this emerging technology for the generation of electrical power. The legislature further finds that state assistance to this emerging technology is appropriate and should be comparable to assistance provided to other renewable energy technologies, including wind and solar power.

Requires the center with oversight by the department, to provide a report from the stakeholders and agencies, together with any recommendations for administrative or legislative changes, to the governor and appropriate committees of the senate and house of representatives by December 31, 2007.