Washington Real Estate Legislative Update
The Washington Legislature has been active during the 2008 Regular Session with respect to issues concerning homeowners, developers and the construction industry. Three bills in particular have received considerable attention from citizens, industry leaders and lobbyists: the
condominium conversion bill, the vesting bill for development projects, and the homeowners’ bill of rights.
Condominium Conversion Bill (EXCERPT)
On January 18, 2008, the Washington State House of Representatives passed a substituted version of the condominium conversion bill, HB 2014. If approved in its current form, the bill will change the relocation assistance that developers of condominium conversions must pay to residential tenants under the Condominium Act from $500 to the equivalent of three months rent. In addition, if approved, the bill will increase the notice period for residential tenants of conversion condominiums from 90 to 120 days.
Vested Rights for Development Projects (EXCERPT)
This week, a bill proposing a dramatic change to washington’s law regarding vested rights for development projects was presented in both houses of the Washington State Legislature. Sen. Adam Kline (D-37, Seattle) is the leading sponsor of the Senate Bill, SB 6784, and Rep. Geoff
Simpson (D-47, Covington) is the leading sponsor of the companion House Bill, HB 3202. If passed, the bill will require that government officials assess applications for proposed projects using the laws in effect at the time of approval, rather than using the laws in effect at the time the application is filed.
Homeowners’ Bill of Rights (EXCERPT)
Sen. Brian Weinstein (D-41, Mercer Island) has introduced the original version of the homeowners’ bill of rights, SB 6385, in the Washington State Senate. At the same time, Rep.
Brendan Williams (D-22, Olympia) has introduced a companion bill, HB 2837, in the House of Representatives.