The bill creates a new, time-limited rent credit reporting pilot program as a new chapter in Title 59 RCW that authorizes the Department of Commerce to either contract with a third party or run the pilot internally. The program permits reporting participant tenants’ rent payment information (timely, untimely, or nonpayment of rent; excludes fees) to consumer reporting agencies for tenants who voluntarily authorize participation. It sets program design and participation rules: the department must recruit no more than 10 participant landlords and, to the extent practicable, attempt to include at least 100 participant tenants; landlords must sign written agreements to participate for at least 14 months (and the department will not require reporting under the pilot after April 1, 2028); tenant reporting may begin within 30 days of a tenant’s election; and landlords may not charge tenants for participation. The department must either contract or establish internal administration and adopt rules and guidelines by December 1, 2025, begin education and recruitment materials by December 15, 2025, complete landlord recruitment by March 1, 2026, and submit a legislatively required report by July 1, 2028. The report must include participant counts, costs, reporting mechanisms used, locations, challenges encountered, and a simple aggregate assessment of credit effects, and must be posted publicly for at least one year. The act names the program, authorizes limited reimbursement of landlord expenses only if funds are appropriated, and expires July 1, 2029. Key statutory references included in the bill are the federal definition of consumer reporting agency (15 U.S.C. §1681a(f)) and state definitions of dwelling unit, landlord, and tenant in RCW 59.18.030. Missing from the provided text are the detailed rules and guidelines the department must adopt (including exact reporting mechanisms and reimbursement amounts), the forms or process for tenant demographic reporting, and any appropriation specifics.

If enacted, the Department of Commerce will run or hire someone to run a time-limited pilot that sends participating tenants' rent payment histories to consumer credit reporting agencies for a small group of landlords (up to 10) and roughly 100 tenants to see whether rent reporting helps credit scores. Participating landlords must sign up for at least 14 months, may not charge tenants to join, and must follow department rules; tenants must opt in and allow the department to compare their credit scores before and after. The department will provide recruitment and education starting December 15, 2025, and must report results to the Legislature by July 1, 2028, with the pilot expiring July 1, 2029. Direct effects fall mostly on the Department of Commerce, participating landlords, tenants, and consumer reporting agencies: landlords will take on reporting duties and possible administrative costs but can only be reimbursed if the Legislature provides funds and the department sets reimbursement rules; tenants may gain a way to build credit but must voluntarily join and outcomes are not assured. Important details left open include the exact reporting methods, reimbursement amounts, funding source, and how tenant demographic or privacy information will be handled—those specifics must be set by the department by December 1, 2025.