The various governments in the US have already stolen and given away trillions of dollars in the past few decades. This new law will simply make the process more visceral:
If someone trespasses by pitching a tent on private property or walks out with a handful groceries from the corner market or steals power tools with the intent of reselling them online in order to pay for a basic need like food or rent, the city of Seattle may be OK with that.
A few centuries ago, England had the death penalty for thieves who stole above a certain amount. Today, lawmakers are discussing doling out zero punishment for theft.