The money would pay for the reforms the Legislature has already approved, including a 1.3 percent salary increase for teachers and staff.
He says the money will include sending $130 million to K-12 public schools to pay for textbooks, computers and curriculum updates.
Inslee says he wants to close seven tax breaks, all proposals he made last year during the longer legislative budget session.
The governor says he was inspired to find more money for education this year by the Supreme Court's recent order that the state needs to move faster toward fully paying the cost of basic education.
Some lawmakers have said they don't want to increase education spending this year.