Washington 2025-2026 Regular Session Status: Passed Senate 14 D cosponsors

SB 5496 — Preserving homeownership options by limiting excessive home buying by certain entities.

Last action — By resolution, returned to Senate Rules Committee for third reading.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has passed the Senate. Introduced January 27, 2025. It now moves to the second chamber.

Next likely step: consideration and a floor vote in the House.

Odds of enactment

Moderate chance

Based on the sponsor, cosponsors, and committee posture, this bill has a moderate chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 58% · moderate confidence

  • Passed Senate

    Current position in the legislative process.

  • 14 sponsors

    1 primary, 13 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (14 D).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

82 added · 90 removed

Plain-language change summary

In the latest version of Senate Bill 5496, the limit on how many single-family residential properties a business or investment entity can own without restrictions has been reduced from 50 to 25. Additionally, the bill clarifies that certain entities like banks and credit unions are exempt from these restrictions. These changes aim to address concerns about large-scale property ownership affecting housing availability, ensuring that smaller investors and nonprofits can still contribute positively to the housing market. This matters because it seeks to promote fair access to housing while preventing monopolistic practices in the real estate sector.

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S-1422.1 SUBSTITUTE SENATE BILL 5496 State of Washington 69th Legislature 2025 Regular Session By Senate Housing (originally sponsored by Senators Alvarado, Orwall, Bateman, Conway, Frame, Hasegawa, Lovelett, Nobles, Saldaña, Stanford, Trudeau, Valdez, Wellman, and C.
S-0837.1 SENATE BILL 5496 State of Washington 69th Legislature 2025 Regular Session By Senators Alvarado, Orwall, Bateman, Conway, Frame, Hasegawa, Lovelett, Nobles, Saldaña, Stanford, Trudeau, Valdez, Wellman, and C.
Wilson) READ FIRST TIME 02/13/25.
Wilson Read first time 01/27/25.
Referred to Committee on Housing.
1 SSB 5496 NEW SECTION.
1 SB 5496 NEW SECTION.
(1)(a) A business entity that has an interest in more than 50 single-family residential properties may not purchase, acquire, or otherwise obtain an interest in another single- family residential property.
(1)(a) A business entity that has an interest in more than 25 single-family residential properties may not purchase, acquire, or otherwise obtain an interest in another single- family residential property.
(d) For the purposes of this subsection (2), "business entity" and "investment entity" do not include businesses regulated under state or federal banking laws operating as commercial banks, bank holding companies, savings banks, trust companies, savings and loan associations, or credit unions.
(c) Purchasing an existing single-family residential property to increase the number of residential units on the property, which may include single-family or multifamily units, only if the entity does p.
(c) Purchasing an existing single-family residential property to increase the number of residential units on the property, which may include single-family or multifamily units, only if the entity does not hold a single-family residential structure longer than five years without applying for building permits for the property;
2 SSB 5496 not hold a single-family residential structure longer than five years without applying for building permits for the property;
or (d) Acquiring an ownership interest in single-family residential property through the construction of new properties.
(d) Acquiring an ownership interest in single-family residential property through the construction of new properties;
p.
or (e) A business entity purchasing through foreclosure or otherwise acquiring a single-family residential property where the business entity is currently servicing a recorded loan on the property.
2 SB 5496 (4) The legislature finds that the practices covered by this section are matters vitally affecting the public interest for the purpose of applying the consumer protection act, chapter 19.86 RCW.
(4) The legislature finds that the practices covered by this section are matters vitally affecting the public interest for the purpose of applying the consumer protection act, chapter 19.86 RCW.
(6) Real estate brokers licensed under chapter 18.85 RCW are not liable in any civil, administrative, or other proceeding for the failure of any seller, buyer, or other property owner to comply with the requirements of this section.
(6) By June 30, 2026, the department of commerce shall submit a report to the appropriate committees of the legislature with recommendations to disincentivize business and investment entities from maintaining ownership of single-family residential properties.
Every person who violates section 2 of this act shall pay a civil penalty of not more than $100,000 for each violation and sell the p.
Every person who violates section 2 of this act shall pay a civil penalty of not more than $100,000 for each violation and sell the property in violation to an independent third party within one year of the date that the court enters the judgment.
3 SSB 5496 property in violation to an independent third party within one year of the date that the court enters the judgment.
For unlawful acts or practices that target or impact specific individuals or communities based on demographic characteristics including, but not limited to, age, race, national origin, citizenship or immigration status, sex, sexual orientation, presence of any sensory, mental, or physical disability, religion, veteran p.
For unlawful acts or practices that target or impact specific individuals or communities based on demographic characteristics including, but not limited to, age, race, national origin, citizenship or immigration status, sex, sexual orientation, presence of any sensory, mental, or physical disability, religion, veteran status, or status as a member of the armed forces, as that term is defined in 10 U.S.C.
3 SB 5496 status, or status as a member of the armed forces, as that term is defined in 10 U.S.C.
4 SSB 5496
4 SB 5496
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Action History

  1. By resolution, returned to Senate Rules Committee for third reading.

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

  3. Referred to Rules 2 Review.

  4. Minority; without recommendation.

  5. Minority; do not pass.

  6. APP - Majority; do pass with amendment(s).

  7. Executive action taken in the House Committee on Appropriations at 10:30 AM.

  8. Public hearing in the House Committee on Appropriations at 10:30 AM.

  9. Referred to Appropriations.

  10. Minority; without recommendation.

  11. Minority; do not pass.

  12. HOUS - Majority; do pass.

  13. Executive action taken in the House Committee on Housing at 4:00 PM.

  14. Public hearing in the House Committee on Housing at 1:30 PM.

  15. First reading, referred to Housing.

  16. Third reading, passed; yeas, 29; nays, 19; absent, 0; excused, 1.

  17. Rules suspended. Placed on Third Reading.

  18. Floor amendment(s) adopted.

  19. 2nd substitute bill substituted (WM 25).

  20. Placed on second reading by Rules Committee.

  21. Passed to Rules Committee for second reading.

  22. Minority; do not pass.

  23. WM - Majority; do pass 2nd substitute bill proposed by Ways & Means.

  24. Executive action taken in the Senate Committee on Ways & Means at 4:00 PM.

  25. Rules Committee relieved of further consideration. On motion, referred to Ways & Means.

  26. By resolution, reintroduced and retained in present status.

  27. Senate Rules "X" file.

  28. Placed on second reading by Rules Committee.

  29. Passed to Rules Committee for second reading.

  30. Minority; without recommendation.

  31. Minority; do not pass.

  32. WM - Majority; 2nd substitute bill be substituted, do pass.

  33. Executive action taken in the Senate Committee on Ways & Means at 1:30 PM.

  34. Public hearing in the Senate Committee on Ways & Means at 1:30 PM.

  35. Referred to Ways & Means.

  36. And refer to Ways & Means.

  37. Minority; do not pass.

  38. HSG - Majority; 1st substitute bill be substituted, do pass.

  39. Executive action taken in the Senate Committee on Housing at 10:30 AM.

  40. Public hearing in the Senate Committee on Housing at 10:30 AM.

  41. First reading, referred to Housing.

Sponsors

Sponsorship breakdown

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1 sponsors · 13 co-sponsors · 137 not signed on · 19 voted No

Sponsors (1)

Co-sponsors (13)

Not signed on (137)

137 members have not signed on to this bill.

Show all 137 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

3rd Reading & Final Passage (#29)

Passed 29 Yea · 19 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 29100
Republican 01801
Total 291901
% of votes cast 59%39%0%2%
How each member voted (49)
Member Party Vote
Adrian Cortes Democrat Yea
Annette Cleveland Democrat Yea
Bob Hasegawa Democrat Yea
Claire Wilson Democrat Yea
Claudia Kauffman Democrat Yea
Deborah Krishnadasan Democrat Yea
Derek Stanford Democrat Yea
Drew Hansen Democrat Yea
Emily Alvarado Democrat Yea
Jamie Pedersen Democrat Yea
Javier Valdez Democrat Yea
Jesse Salomon Democrat Yea
Jessica Bateman Democrat Yea
John Lovick Democrat Yea
June Robinson Democrat Yea
Lisa Wellman Democrat Yea
Liz Lovelett Democrat Yea
Manka Dhingra Democrat Yea
Marcus Riccelli Democrat Yea
Marko Liias Democrat Yea
Mike Chapman Democrat Yea
Noel Frame Democrat Yea
Rebecca Saldaña Democrat Yea
Sharon Shewmake Democrat Nay
Steve Conway Democrat Yea
T'wina Nobles Democrat Yea
Tina Orwall Democrat Yea
Vandana Slatter Democrat Yea
Victoria Hunt Democrat Yea
Yasmin Trudeau Democrat Yea
Chris Gildon Republican Nay
Curtis King Republican Nay
Drew MacEwen Republican Nay
Jeff Holy Republican Not Voting
Jeff Wilson Republican Nay
Jim McCune Republican Nay
John Braun Republican Nay
Judy Warnick Republican Nay
Keith Goehner Republican Nay
Keith Wagoner Republican Nay
Leonard Christian Republican Nay
Mark Schoesler Republican Nay
Matt Boehnke Republican Nay
Nikki Torres Republican Nay
Paul Harris Republican Nay
Perry Dozier Republican Nay
Phil Fortunato Republican Nay
Ron Muzzall Republican Nay
Shelly Short Republican Nay

Official roll call →

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 5496?
SB 5496 is sponsored by Claire Wilson (Democrat), Lisa Wellman (Democrat), Yasmin Trudeau (Democrat), Derek Stanford (Democrat), Rebecca Saldaña (Democrat), T'wina Nobles (Democrat), Liz Lovelett (Democrat), Bob Hasegawa (Democrat), Noel Frame (Democrat), Steve Conway (Democrat), Jessica Bateman (Democrat), Tina Orwall (Democrat), Emily Alvarado (Democrat), and Javier Valdez (Democrat).
What is the current status of SB 5496?
This bill has passed the Senate. Introduced January 27, 2025. It now moves to the second chamber.
Where can I track SB 5496?
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