Requires the department of community, trade, and economic development, subject to the availability of funds appropriated for this specific purpose or another source of funding made available for this specific purpose, to establish a regional transfer of development rights program in central Puget Sound, including King, Kitsap, Snohomish, and Pierce counties and the cities and towns within these counties to foster voluntary county, city, and town participation in the program so that interjurisdictional transfers occur between the counties, cities, and towns, including transfers from counties to cities and towns in other counties.