H-2757.2
SUBSTITUTE HOUSE BILL 1974
State of Washington
69th Legislature
2026 Regular Session
By House Housing (originally sponsored by Representatives Hill, Peterson, Parshley, Scott, Thomas, Reed, Simmons, Street, Pollet, Macri, and Ormsby)
READ FIRST TIME 01/27/26.
AN ACT Relating to establishing land banking authorities; amending RCW 36.35.150 , 35.21.755 , 82.45.010 , and 82.45.010 ; adding a new chapter to Title 35 RCW; creating new sections; providing an effective date; and providing an expiration date.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. (1) The legislature finds that solving the state's housing crisis requires a multipronged approach. Finding, acquiring, and holding land in the predevelopment phase is a time-consuming opportunity cost for all developers and is particularly acute for developers of affordable housing. The legislature also finds that the state needs more affordable housing, and land banks play a crucial role in the housing ecosystem by finding, acquiring, and holding land until a developer is ready to build on the parcel or parcels.
(2) The legislature further finds that land banks provide a benefit to neighbors and the community by managing abandoned or underutilized properties, preventing blight and crime, and improving public health and safety. The state intends to enable land banks to operate regionally and provide incentives that result in reduced costs to hold property. In turn, land banks can coordinate with developers throughout their region to build mixed-income developments and give more Washingtonians a place to call home.