Revises provisions relating to using surplus property to develop affordable housing.

Requires the department of natural resources to identify and catalog real property that is no longer required for department purposes and is suitable for the development of affordable housing for very low-income, low-income, and moderate-income households as defined in RCW 43.63A.510. The inventory shall include the location, approximate size, and current zoning classification of the property. The department shall provide a copy of the inventory to the department of community, trade, and economic development, with inventory revisions provided as surplus property becomes available, but no less often than each calendar quarter, beginning in June 2006.

Provides that an annual report must be submitted to the department of community, trade, and economic development which shall include a list of all properties that were purchased by a nonprofit housing organization or housing authority in the most recently completed fiscal year. The report must also include all information required in RCW 43.63A.510(5).

Provides that the act shall be null and void if appropriations are not approved.