This bill would require the department to no later than December 31, 2025, perform a review of construction cost pressures for certain residential construction as a result of new or existing building standards requirements in the code and provide a one-time report of its findings to the Legislature in the annual report described above. The bill, commencing with the next triennial edition of the code, and every 3 years thereafter, would require the department to perform additional reviews of construction cost pressures for single-family and multifamily residential construction, as described, and propose revisions or updates to the code, as needed, with a goal of maintaining or reducing by 30 percent the cost of construction for new residential development.