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 and the speaker of the house of representatives. The task force will include representatives from different sectors, such as nonprofit and for-profit housing developers, builders, realtors, tenants, landlords, and various associations related to housing and finance. The task force is tasked with researching and analyzing the primary cost drivers for homeownership and rental housing in the state, and it will convene its initial meeting with legislative members serving as cochairs.

Additionally, the bill outlines the support structure for the task force, specifying that staff support will be provided by the senate committee services and the house of representatives office of program research. It also details the reimbursement policies for travel expenses for legislative members and the funding mechanism for the task force's expenses, which will be jointly covered by the senate and house of representatives. The task force is required to report its findings and recommendations to the legislature by December 1, 2026, and the section establishing the task force will expire on June 1, 2027.