5496-S2.E AMH BARK MORI 380

E2SSB 5496 - H AMD TO APP COMM AMD (H-3763.1/26) 2431

NOT CONSIDERED 03/12/2026

On page 1 of the striking amendment, strike all material after line 2 and insert the following:

"NEW SECTION. Sec. (1) The legislature finds that:

(a) Washington’s persistent housing crisis requires targeted, effective policy to put affordable housing and homeownership in reach of more Washingtonians and their families. These policies must focus on the core issues that multiple studies by the state have identified, primarily growing the housing supply. Policies impacting what type of housing is available must balance the diversity of needs of communities across the state, including the need for a supply of high-quality and affordable rental properties, owner-occupied residences, and other approaches to housing; and

(b) In addition, policy giving the government control over to whom or when a homeowner will be permitted to sell their property must be justified at the highest levels and built on strong evidence and data of the need for such interference.

(2) Therefore, it is the intent of the legislature to study the scale, distribution, and impacts of institutional and other business ownership of single-family homes in Washington, and to evaluate enforceable, constitutional, and effective policy options before considering policy options that restrict homeowners in their ability to sell or acquire homes.

NEW SECTION. Sec. (1) The department of commerce, in collaboration with the housing futures center at the University of Washington and the office of the attorney general, shall examine housing ownership by corporate entities in Washington and provide a report to the legislature by November 1, 2027. The report must include:

(a) A quantitative market analysis of single-family home ownership in Washington, including:

(i) The scale and geographic locations of business or institutional investor owners compared to owner-occupied, single-family homes, distinguishing among small-investor and professionally managed properties owned by institutional investors;

(ii) The extent to which business or institutional investor-owned, single-family properties are made available as long-term rentals or short-term rentals, held vacant, or used for other non-residential purposes;

(iii) Changes in the share of single-family homes by owner type since 2008; and

(iv) A comparison of home price and rent prices in areas with increased business or institutional investor owners versus areas with higher shares of owner-occupied single-family homes, and an assessment as to the correlation to price changes and owner types;

(b) An analysis of the demographics of single-family home renters, including income, race and ethnicity, family size, and readiness for home ownership;

(c) A review of tools and policies supporting single-family rental tenants to access home ownership;

(d) An analysis of how private capital intersects with both housing supply activities and professionally managed, single-family rentals;

(e) An evaluation of whether business or institutional investors purchasing homes are displacing would-be first-time homebuyers; and

(f) An evaluation of approaches to limit buyers of single-family homes, potential legal implications of such limits, policy justifications, and necessary resources to enforce such limits.

(2) In preparing the report, the department shall consider:

(a) Available data from county assessors and recorders;

(b) Parcel datasets;

(c) Property records;

(d) State sources on prices, rents, incomes, and cost burdens;

(e) Interviews with buyers, brokers, developers, landlords, and housing finance professionals; and

(f) Input from renter and homebuyer advocacy organizations.

(3) This section expires January 1, 2028."

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