2023 Legislative Session - We're half-way through
Dear WBPA Members and Friends:
The legislative session has passed the halfway mark for 2023! In the first 50+ days the legislature has managed to propose a host of initiatives that were designed to take away your property rights and lower the value of your real estate investments. Needless to say, the Washington Business Properties Association has been busy working to defeat and roll back the attacks on the real estate industry.
We are the voice for Washington
WBPA protects your property right interests in front of the Washington State Legislature. The year began with the WBPA challenge to the Eviction Resolution Pilot Program that was approved in 2022. This statute prohibited housing providers from removing a tenant without first seeking the approval of a non-judicial administrative agency. The program was a failure across the state and ended up costing time and money for owners with no result.
The Superior Court ruled in favor of the state in our initial suit, but with your help, the WBPA appealed the lower court decision to the state Supreme Court. Our litigation effort played a role in forcing the legislature to abandon renewing the program this year. In fact, the Attorney General in his response to the WBPA appeal, stated “. . . there is no indication the Legislature will enact such a statute. . .”.
We keep a close eye…
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Your support allows us to keep a close eye on the Legislature and keep you meaningfully engaged in the process. We were immediately confronted with 6 different pieces of legislation that all proposed implementing rent control in one form or another. Working with our Board, we knew defeating rent control bills was our highest priority. |
It's a Money Grab!
In the beginning of March, the WBPA brought together a POWERFUL COALITION of lobbyists and other real estate-related associations and defeated all 6 rent control proposals! Similar legislation has failed across the country and because of the WBPA and our partners, Washington is safe from this money-grab, for now.
In addition to rent control, we are still fending off attempts by the Legislature to raise the state Real Estate Excise Tax (REET) rate to the highest in the nation. House Bill 1628 would impose a 4% tax on sales over $5 million starting January 1, 2025. This may not seem like much, but this amounts to more than $1 BILLION per biennium (a specified period of two years) and this is in addition to what you already pay. The state wants this tax money bad!
Why are we fighting REET?
The WBPA is proud to be part of cutting-edge policy that promotes Washington as a leader. This REET proposal is not leadership. We will be working hard to kill this legislation and keep it from going anywhere in the Senate.
Critical Housing Shortage
With the current critical housing shortage of 800,000 homes in Washington, higher taxes on real estate, and more permitting costs and delays--all of this will only increase rents and worsen our housing crisis. The housing crisis is expected to breach one million by 2040. This is why we are fighting things like rent control and REET, we want affordable housing.
Let’s Fight!
In order to continue this impactful work, the WBPA needs your financial support. If you are a renewing member, thank you for your continued support. We ask that you consider what’s at stake for your business, family and our state this session and make that additional investment in our shared work. Our work greatly matters to us and the results are FOR YOU!
If you have not yet joined the WBPA, please do so today. These are just a few examples of how we are changing the landscape for property rights in Washington and we want you involved.
We have made it easy for you to join. Just click the button below. In addition to joining the WBPA, there are other efforts to support like our Legal Defense Fund and Political Action Committees.
One Final Ask
Over the next 30 days you will receive “CALLS TO ACTION.” When we call, please take the time to contact elected officials and help us advocate and educate. Your calls, emails, or texts help us make an even bigger impact.
Sincerely,
Chester Baldwin
Chester Baldwin, CEO & Executive Director
Washington Business Properties Association
We Educate, Legislate, and Litigate for your PROPERTY RIGHTS