The 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 any business entity from acquiring an interest in a manufactured housing community if it already owns 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 amends existing consumer protection laws to impose civil penalties for violations of these new restrictions. A violation of the purchasing prohibitions will result in a civil penalty of up to $100,000, and the offending entity must sell the property to an independent third party within one year of a court judgment. Failure to comply with this requirement incurs further penalties. The bill also includes enhanced penalties for unlawful acts targeting specific demographic groups. Overall, the legislation seeks to ensure the stability and affordability of manufactured housing communities while holding violators accountable through significant financial penalties.

Statutes affected:
Original Bill: 19.86.140
Substitute Bill: 19.86.140