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WA HB1732
Bill
Status
Introduced
1/30/2025
Primary Sponsor
Brianna Thomas
Click for details
AI Summary
- Business entities owning more than 25 single-family residential properties are prohibited from purchasing additional single-family homes in Washington state
- Investment entities, including real estate investment trusts (REITs) and pooled investment funds, are completely banned from acquiring single-family residential properties
- Exemptions apply to nonprofit organizations, entities purchasing properties for code compliance renovations, entities adding residential units (with a 5-year permit requirement), and new construction
- Violations constitute unfair trade practices under the Consumer Protection Act, with civil penalties up to $100,000 per violation and mandatory sale of the property to an independent third party within one year
- Department of Commerce must submit a report by June 30, 2026 with recommendations to disincentivize business and investment entities from maintaining ownership of single-family residential properties
Legislative Description
Preserving homeownership options by limiting excessive home buying by certain entities.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026
Committee Referrals
Housing1/30/2025
Full Bill Text
No bill text available