Finds that: (1) Recent events have demonstrated the need for a coordinated, comprehensive all-hazards disaster planning effort;

(2) Washington ranks fifteenth in the nation for federally declared disasters with fourteen disasters in the last ten years; and

(3) The economic impact from just the 2007 disasters alone is estimated at over five hundred million dollars. In response, Washington state and its local governments have implemented all-hazards emergency management and disaster response plans. However, recent studies have revealed the lack of a secure funding source impedes our ability statewide from fully integrating and coordinating comprehensive disaster preparedness planning.

Declares an intent to strengthen state and local emergency response, mitigation, preparation, and coordination by establishing a stable source of funding. The funding will be dedicated to the development and coordination of state and local government emergency management programs to a recognized baseline standard. The baseline will be determined by a gap analysis of state and local emergency management programs.

Creates the emergency management, preparedness, and assistance account.

Imposes an annual surcharge of one and one-third percent per policy on every homeowner's, mobile homeowner's, manufactured homeowner's, tenant homeowner's, and condominium unit owner's insurance policy, and commercial fire, commercial multiple peril, and business owner's property insurance policy, issued or renewed on or after the effective date of section 3 of the act.

Directs the Washington military department to administer the emergency management, preparedness, and assistance account and to establish rules for its administration in consultation with the emergency management council and the Washington state emergency management association.

Directs the emergency management council to accomplish a baseline assessment of all emergency management programs that receive federal emergency management performance grant funds within six months after the effective date of section 5 of the act.

Requires the joint legislative audit and review committee to study and review the performance of the programs implemented under the act.