Notice of Introduction for Substitute Senate Bill 5496 - Update: 10 Year Analysis Complete

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SSB 5496, titled AN ACT Relating to creating the covenant homeownership account and program to address the history of housing discrimination due to racially restrictive real estate covenants in Washington state, has been introduced in the Senate. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

Department of Commerce:

Indeterminate impact under I-9060.  Bill introduces a $100 document recording fee with several exclusions cited. The department assumes revenue of $49,500,000 in FY24 and $99,000,000 per fiscal year thereafter.

Ten-year projection prepared in consultation with the following agencies:

Department of Commerce
Department of Commerce

The substitute bill was proposed by:

Senate Committee on Housing



The original bill sponsors and contact information are:




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp