The bill establishes a legislative task force on housing cost driver analysis in Washington State, composed of various members appointed by the president of the senate, the speaker of the house, and jointly appointed members from diverse sectors related to housing. The task force is tasked with researching and analyzing the primary cost drivers for homeownership and rental housing in the state. It is limited to three virtual meetings and must report its findings and recommendations to the legislature by December 1, 2026. The task force will receive staff support from the senate committee services and the house of representatives office of program research, and its expenses will be jointly funded by the senate and house, subject to committee approval.

Additionally, the bill includes a provision stating that if specific funding for the task force is not provided by June 30, 2025, in the omnibus appropriations act, the act will become null and void. The task force is set to expire on June 1, 2027, ensuring a defined timeline for its operations and objectives.