WA People
BILL · 2023–24 SESSION · LATEST VERSION 2SHB 1628

HB 1628: Real estate excise tax

Increasing the supply of affordable housing by modifying the state and local real estate excise tax.

Summary

  • Increases the “ceiling” for the Tier 1 1.1 percent state real estate excise tax (REET) from $525,000 to $750,000 beginning January 1, 2025.
  • Increases the state REET rate for Tier 4 (selling price over $3,025,000) from 3 percent to 3.5 percent except for commercial property, beginning January 1, 2025.
  • Imposes the new 3.5 percent REET rate for Tier 4 for commercial property beginning January 1, 2027.
  • Adds the Washington Housing Trust Fund, the Apple Health and Homes Account, the Affordable Housing for All Account, and the new Developmental Disabilities Housing and Services Account to the Accounts that receive proceeds from REET.
  • Allows a county or city to impose an additional 0.25 percent REET for the construction and support of affordable housing beginning January 1, 2024.
  • Removes the expiration date on the ability to use certain local government REET funds for facilities for those experiencing homelessness or for affordable housing, and removes a $1,000,000 limit on the annual use of such funds in larger jurisdictions.

From the House Bill Report (HB 1628), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the House floor
  1. IntroducedJan 26, 2023
  2. Out of committeeApr 17, 2023
  3. Passed Housestopped here
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Frank Chopp (D-43)
Introduced
January 26, 2023 in the House
Last action
January 8, 2024
Budget
Has a fiscal note
Versions
HB 1628, SHB 1628, 2SHB 1628

AN ACT Relating to increasing the supply of affordable housing by modifying the state and local real estate excise tax;

Sponsors

Prime sponsor: Frank Chopp (D-43)

30 co-sponsors (30 Democrats, 0 Republicans)

Nicole Macri D-43Strom Peterson D-21Emily Alvarado D-34Jamila Taylor D-30Julia Reed D-36Gerry Pollet D-46Debra Lekanoff D-40Joe Fitzgibbon D-34April Berg D-44Marcus Riccelli D-3Lauren Davis D-32Chipalo Street D-37Alex Ramel D-40Davina Duerr D-1Tana Senn D-41Beth Doglio D-22Julio Cortes D-38Monica Jurado Stonier D-49Mia Gregerson D-33Sharlett Mena D-29Liz Berry D-36Mary Fosse D-38Roger Goodman D-45Steve Bergquist D-11Vandana Slatter D-48Timm Ormsby D-3My-Linh Thai D-41Darya Farivar D-46Tarra Simmons D-23Sharon Wylie D-49

Votes

No recorded floor votes.

History

  1. House Rules "X" file. (2SHB 1628)
  2. By resolution, reintroduced and retained in present status. (2SHB 1628)
  3. By resolution, reintroduced and retained in present status. (SHB 1628)
  4. House Rules "X" file. (SHB 1628)
  5. House Rules "X" file.
  6. By resolution, reintroduced and retained in present status.
  7. Referred to Rules 2 Review. (2SHB 1628)
  8. Referred to Rules 2 Review. (SHB 1628)
  9. Referred to Rules 2 Review.
  10. Minority; do not pass. (2SHB 1628)
  11. FIN - Majority; 2nd substitute bill be substituted, do pass. (2SHB 1628)
  12. Minority; without recommendation. (2SHB 1628)
  13. Minority; without recommendation. (SHB 1628)
  14. FIN - Majority; 2nd substitute bill be substituted, do pass. (SHB 1628)
  15. Minority; do not pass. (SHB 1628)
  16. FIN - Executive action taken by committee. (SHB 1628)
  17. FIN - Executive action taken by committee.
  18. Minority; do not pass.
  19. FIN - Majority; 2nd substitute bill be substituted, do pass.
  20. Minority; without recommendation.
  21. Referred to Finance. (SHB 1628)
  22. Referred to Finance.
  23. LG - Majority; 1st substitute bill be substituted, do pass. (SHB 1628)
  24. Minority; do not pass. (SHB 1628)
  25. LG - Executive action taken by committee.
  26. Minority; do not pass.
  27. LG - Majority; 1st substitute bill be substituted, do pass.
  28. First reading, referred to Local Government.

HB 1628 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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