Washington HB2359 modifies requirements and uses for certain funding related to affordable housing and services.

Washington HB2359 modifies requirements and uses for certain funding related to affordable housing and services. It specifies that qualifying grantees must receive or qualify the property for a tax exemption and use it for low-income housing. The bill outlines conditions for transfers between qualifying grantees and sets timelines for compliance. It also details how funds collected from a real estate excise tax must be distributed and used, including for homeless housing plans and administrative costs.

Washington HB2359 modifies requirements and uses for certain funding related to affordable housing and services.

Washington HB2359 modifies requirements and uses for certain funding related to affordable housing and services. It specifies that qualifying grantees must receive or qualify the property for a tax exemption and use it for low-income housing. The bill outlines conditions for transfers between qualifying grantees and sets timelines for compliance. It also details how funds collected from a real estate excise tax must be distributed and used, including for homeless housing plans and administrative costs.