Requires the state to take the necessary steps to expedite the environmental review and design processes to replace the Alaskan Way viaduct with a deep bore tunnel under First Avenue from the vicinity of the sports stadiums in Seattle to Aurora Avenue north of the Battery Street tunnel.

Requires the state route number 99 Alaskan Way viaduct replacement project finance plan to include state funding not to exceed 2.4 billion dollars. If costs exceed 2.4 billion dollars, no more than 400 million dollars of the additional costs shall be financed with toll revenue. Costs in excess of 2.8 billion dollars shall be borne by property owners in the Seattle area who benefit from replacement of the viaduct.

Provides that the city and county departments of transportation are responsible for the cost, delivery, and associated risks of the project components for which each department is responsible.

Directs the department of transportation to prepare a traffic and revenue study for a state route number 99 deep bore tunnel for the purpose of determining the facility's potential to generate toll revenue.