Establishes a sales and use tax remittance program for affordable housing in Washington.
The bill creates a sales and use tax remittance program for affordable housing in Washington. It defines "affordable housing" as housing for low-income households with certain income limits. Eligible organizations, including nonprofit developers and public housing authorities, can apply for a tax exemption on materials and services used for qualifying projects. The program requires a resolution from the governing authority, application approval, and compliance with specific criteria.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.