To establish a new regional development rights program. The bill coordinates a regional program to promote transfer of development rights with the Puget Sound Regional Council. The bill also requires various reports and findings necessary to develop the program.   Official Text and Analysis.

To change the number and type of entities the DCTED must work with to develop a regional TDR program. The DCTED is also required to compare the uses of regional TDR programs to other existing land conservation strategies in a final progress report.

To add the following changes: the Department of Community, Trade and Economic Development (Department) identifies opportunities for counties and the state, in addition to cities, to achieve benefits through a transfer of development rights program; the Department must identify the value in modifying criteria by which Capital Budget funds are allocated; and the Department can contract for expertise to accomplish the requirements of the act.

To require the Puget Sound Regional Council to develop policies to discourage or prohibit the transfer of development rights that would negatively impact the future economic viability of the sending area. CTED's report to the Legislature must also identify appropriate sending sites so as to protect future growth and economic development needs of the sending areas.

To add two representatives of the agricultural industry to the stakeholder advisory committee.