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Bill to create corporate homeowner registry draws mixed testimony; implementation costs flagged
Summary
Senate Bill 5580 would require entities owning 20+ single-family or condominium units in Washington to register with the Secretary of State; supporters said the registry improves transparency, while opponents and the Secretary of State warned of implementation costs and limited enforcement authority.
Senate Bill 5580 would create a corporate homeowner registration program in the Office of the Secretary of State, requiring entities that own 20 or more single-family homes or condominium units to register and report ownership and contact details. The bill also sets up a Corporate Homeowner Transparency Account to fund administration and allows the Secretary of State to set a registration fee by rule.
Sponsor testimony (Senator Orwall) said the measure seeks "adding transparency and gathering information around corporate ownership of single family homes"…
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