PRIA Logo™
WashingtonHB 15162025-2026 Regular SessionHouseWALLET

Conducting a study of insurance coverage options for permanently affordable homeownership units.

Sponsored By: Natasha Hill (Democratic)

Became Law

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 1 costs, 1 mixed.

Defines permanently affordable homes for study

For this section, a permanently affordable home must also meet the state affordable housing definition in RCW 43.185A.010 and be sponsored by a nonprofit or a government. The home is under a ground lease or deed restriction with a resale cap, a sponsor right of first refusal, and sponsor approval for any refinancing. The right of first refusal and refinancing approval do not apply when the sponsor is a limited equity cooperative that is not partnered with a community land trust. A sponsor can also qualify by placing a new ground lease or deed restriction of at least 99 years at the first sale and every later sale, and by supporting the owner and enforcing it. These rules apply only to this study and end December 31, 2027.

Study to cut condo insurance costs

Beginning July 27, 2025, the Insurance Commissioner studies insurance options for projects that build permanently affordable homeownership units. The goal is to lower condo construction defect liability costs while keeping insurance available. The office consults nonprofit and government sponsors, authorized and unauthorized insurers, builders, and state associations. It uses market studies and other information released on or after December 31, 2017, and may hire actuaries or other experts. The commissioner reports findings and recommendations to the Legislature by December 31, 2026. This study authority ends December 31, 2027.

Insurers must share data for study

Authorized and unauthorized insurers and risk retention groups must give the Insurance Commissioner the information requested for this study. The rule applies to entities the Commissioner identifies as doing insurance business in Washington. This data duty ends December 31, 2027.

Study funding and budget trigger rules

The Insurance Commissioner’s regulatory account under RCW 48.02.190 pays for the study and any hired consultants. If the omnibus budget does not include specific funding for this act by June 30, 2025, the act is null and void.

Free Policy Watch

You just read the policy. Now see what it costs you.

Pick a topic. PRIA runs your household against live legislation and sends you a free personalized readout.

Pick a topic to get started

My TaxesMy HealthMy BudgetMy MoneyMy Freedom
Or tell us something more specific

Sponsors & Cosponsors

Sponsor

  • Natasha Hill

    Democratic • House

Cosponsors

  • Alex Ramel

    Democratic • House

  • Darya Farivar

    Democratic • House

  • Gerry Pollet

    Democratic • House

  • Jamila Taylor

    Democratic • House

  • Julia Reed

    Democratic • House

  • Lisa Parshley

    Democratic • House

  • Melanie Morgan

    Democratic • House

  • Mia Gregerson

    Democratic • House

  • Nicole Macri

    Democratic • House

  • Osman Salahuddin

    Democratic • House

  • Tarra Simmons

    Democratic • House

  • Timm Ormsby

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 99 • No: 46

Senate vote • 4/16/2025

3rd Reading & Final Passage

Yes: 41 • No: 8

House vote • 3/11/2025

3rd Reading & Final Passage

Yes: 58 • No: 38 • Other: 2

Actions Timeline

  1. Effective date 7/27/2025.

    5/7/2025House

  2. Chapter 202, 2025 Laws.

    5/7/2025House

  3. Governor signed.

    5/7/2025legislature

  4. Delivered to Governor.

    4/22/2025legislature

  5. President signed.

    4/19/2025legislature

  6. Speaker signed.

    4/18/2025legislature

  7. Third reading, passed; yeas, 41; nays, 8; absent, 0; excused, 0.

    4/16/2025House

  8. Rules suspended. Placed on Third Reading.

    4/16/2025House

  9. Placed on second reading by Rules Committee.

    4/9/2025House

  10. Passed to Rules Committee for second reading.

    3/27/2025House

  11. Minority; do not pass.

    3/26/2025House

  12. BFT - Majority; do pass.

    3/26/2025House

  13. First reading, referred to Business, Financial Services & Trade.

    3/13/2025House

  14. Third reading, passed; yeas, 58; nays, 38; absent, 0; excused, 2.

    3/11/2025House

  15. Rules suspended. Placed on Third Reading.

    3/11/2025House

  16. 2nd substitute bill substituted.

    3/11/2025House

  17. Rules Committee relieved of further consideration. Placed on second reading.

    3/6/2025House

  18. APP - Executive action taken by committee.

    2/28/2025House

  19. Referred to Rules 2 Review.

    2/28/2025House

  20. Minority; do not pass.

    2/28/2025House

  21. Minority; without recommendation.

    2/28/2025House

  22. APP - Majority; 2nd substitute bill be substituted, do pass.

    2/28/2025House

  23. Referred to Appropriations.

    2/21/2025House

  24. Minority; do not pass.

    2/19/2025House

  25. CPB - Majority; 1st substitute bill be substituted, do pass.

    2/19/2025House

Bill Text

Related Bills

Back to State Legislation

Take It Personal

Get Your Personalized Policy View

Take the PRIA Score to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.

Already have an account? Sign in