Historic Legislative Session for Housing Comes to a Close
This year, the state Legislature passed several bills on housing including substantial bills on Permit Reform, allowing Accessory Dwelling Units, Missing Middle Housing and more. In total, six of the top priority bills for Washington REALTORS® were passed by the legislature - an historic year by any standards!
Washington REALTORS will soon share a comprehensive list of the housing bills that passed and how those bills will help our members and their clients so keep on alert for that.
Washington REALTORS® started the session off by asking the Legislature to make this the session about Housing Policy, and the Legislature responded. The Legislature passed numerous bills on housing including substantial bills on Permit Reform, allowing Accessory Dwelling Units, Missing Middle Housing and more. A few issues were sorted out over the weekend in the last hours of session those include-
Condo Reform Bill (SB 5258) - This bill ultimately passed the House with some changes, was concurred on by the Senate, and is on its way to the Governor. The big piece of this bill was the “right to cure” or the requirement that a consumer allow a contractor to fix the defects on a condo prior to engaging in litigation. Washington REALTORS® are optimistic that the Governor will sign this bill.
REET Increase/Property Tax Increase - Both of these ideas had various supporters at the end of session, but we are happy to share that both ideas died in the late hours of this session.
Overall this was a big win for housing of all types this session. Not only did the Legislature pass a number of market rate housing bills, but it also set aside $1.1 billion in existing revenue for affordable housing, the most money that has ever been dedicated to affordable housing.
CLICK HERE for a complete rundown of other bills passed this session.