The proposed bill aims to protect manufactured housing communities in Washington state by restricting the ability of large business and investment entities to purchase these properties. Specifically, it prohibits business entities from acquiring interests in manufactured housing communities if they already own five or more communities or 200 or more lots. Investment entities are entirely barred from purchasing manufactured housing communities or lots. However, exceptions are made for eligible organizations and those developing new manufactured housing communities. The bill emphasizes the importance of preserving affordable housing options for low-income and senior residents, who are often disproportionately affected by rising rents and displacement due to such acquisitions.

Additionally, the bill introduces new civil penalties for violations of these restrictions, including a fine of up to $100,000 for each violation and a requirement to sell the property to an independent third party within one year of a court judgment. If the property is not sold within this timeframe, an additional penalty may be imposed. The bill also amends existing laws regarding civil penalties for consumer protection violations, ensuring that the penalties are adjusted for inflation and evaluated every five years. Overall, the legislation seeks to safeguard the availability of affordable manufactured housing and enhance consumer protection in the state.

Statutes affected:
Original Bill: 19.86.140
Substitute Bill: 19.86.140