Abolishes innovate Washington and transfers its mission, powers, duties, and functions to the department of commerce.

Assigns and transfers all real property to Washington State University.

Requires the office of alternative energy at Washington State University to convene a sustainable aviation biofuels work group.

Creates the innovate Washington program in the department of commerce to support business growth in the state's innovation and technology sectors and facilitate statewide technology transfer and commercialization activities, for the purpose of increasing the state's economic vitality.

Provides a June 30, 2015, expiration date for: (1) Chapter 43.333 RCW (innovate Washington); and

(2) Chapter 70.210 RCW (investing in innovation grants program).