The bill proposes the establishment of a new Washington State Department of Housing to address the ongoing crisis of affordable housing and homelessness across the state. It recognizes the need for a more coordinated approach to these issues, which have affected communities statewide. The new department aims to consolidate various housing programs currently managed by multiple agencies, thereby enhancing the state's ability to respond effectively to housing challenges. To facilitate this transition, the bill mandates the Office of Financial Management to contract with an external consultant to study the reorganization of state housing programs and identify existing gaps.

The consultant's study will include recommendations on the department's mission, organizational structure, and the inclusion of various housing functions. It will also assess the feasibility of developing a state housing portfolio, the need for an eviction prevention office, and emergency housing solutions, among other issues. The findings and recommendations are to be submitted to the governor and legislative committees by July 1, 2025. Additionally, the bill stipulates that if specific funding for its implementation is not provided by June 30, 2024, the act will become null and void.