The bill seeks to improve the supply and affordability of condominium units and townhouses in Washington State, thereby expanding homeownership options. It introduces several amendments to the Revised Code of Washington (RCW), including clarifications on terms such as "affiliate," "association," and "construction defect professional." A significant requirement is the provision of a written defect assessment report by a qualified expert before initiating a construction defect action. The bill also establishes timelines for notifications and responses between claimants and construction professionals regarding defect claims, while emphasizing the importance of effective communication in resolving disputes.

Additionally, the bill modifies existing laws related to warranties in real estate transactions, particularly for condominiums, ensuring that express warranties can be created without formal language and that implied warranties of quality are guaranteed for these units. It introduces provisions for tax exemptions for sales of residential properties to qualified entities serving individuals with developmental disabilities and outlines conditions for low-income housing initiatives. The bill also revises impact fee regulations, requiring local governments to adopt fee schedules that reflect the impact of new housing units on public facilities and allowing exemptions for low-income housing. Overall, these amendments aim to enhance housing accessibility and affordability while ensuring compliance with regulatory requirements.

Statutes affected:
Original Bill: 64.35.105, 64.50.010, 64.50.020, 64.50.040, 64.50.050, 64.90.250, 64.90.605, 64.90.645, 64.90.665, 64.90.670, 64.90.675, 82.45.010, 82.02.060, 43.31.565