(1) The Indian health improvement reinvestment account is created in the custody of the state treasurer. All receipts from new state savings as defined in RCW 43.71B.010 and any other moneys appropriated to the account must be deposited into the account. Expenditures from the account may be used only for projects, programs, and activities authorized by RCW 43.71B.030. Only the director of the authority or the director’s designee may authorize expenditures from the account. The account is subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.

(2) Beginning November 1, 2019, the new state savings as defined in RCW 43.71B.010, less the state’s administrative costs as agreed upon by the state and the reinvestment committee, shall be deposited into the reinvestment account. With advice from the advisory council, the authority shall develop a report and methodology to identify and track the new state savings. Each fall, to assure alignment with existing budget processes, the methodology selected shall involve the same forecasting procedures that inform the authority’s medical assistance and behavioral health appropriations to prospectively identify new state savings each fiscal year, as defined in RCW 43.71B.010.

(3) The authority shall pursue new state savings for medicaid managed care premiums on an actuarial basis and in consultation with tribes.