Declares that the purpose of the committee is to review the homeowners' association act, chapter 64.38 RCW, the uniform common interest ownership act, and current issues concerning homeowners' associations as defined in RCW 64.38.010 including, without limitation, the method and manner of amending restrictive covenants, voting, communications between homeowners' association boards and association members, the budget ratification process, potential conflicts between the homeowners' association act and other laws that may be applicable to the organizational form of the association, and the need for reforms regarding the process, in which liens are placed on property for unpaid association dues against a new seller for a previous owner's delinquencies, as well as a review of the required disclosures on the sale of real property within a homeowners' association.

Requires the committee to examine the issues referenced in this act and whether any changes should be made to the homeowners' association act. The committee shall deliver a report of its findings and conclusions and any proposed implementing legislation to the appropriate committees of the senate and house of representatives by September 1, 2007.