Creates the degree production incentive program to incentivize the regional universities and The Evergreen State College to increase the production of degrees awarded to resident undergraduate students who are low income or first generation, or who earn a degree in science, engineering, math, technology (STEM), or other high employer demand fields.

Requires the student achievement council to annually disburse degree production incentive money to each of the regional universities and The Evergreen State College.

Requires the joint legislative audit and review committee to conduct an evaluation of the effectiveness of the degree production incentive program in meeting its stated goals.

Creates the degree production incentive account.