The bill aims to address Washington's significant housing shortage and homelessness crisis by mandating local governments to approve the construction of new homes to meet their proportional share of the state's total housing deficit by 2035. It establishes that every county, city, and town with permitting authority must calculate their share of the housing shortage, as determined by the Department of Commerce using the best available data. The department is required to complete this calculation by April 1, 2026, and report the necessary number of new homes for each locality. Additionally, local governments must regularly evaluate their codes and regulations to ensure they are not hindering the construction of new housing.

The bill also amends existing law regarding fees collected by county treasurers, specifically changing the fee from "five dollar" to "$5" in multiple instances and clarifying the distribution of funds. It introduces a new requirement that no earnings from investments in the local real estate excise tax account may be distributed to any county, city, or town that does not comply with the conditions set forth in the bill. The legislation emphasizes collaboration between state and local governments to create policies that facilitate housing development and aims to review reports on impediments to housing construction to amend state requirements accordingly.

Statutes affected:
Original Bill: 82.45.180