Expands eligibility for multifamily tax exemption program to all Washington counties.

The bill amends the Washington tax code to expand eligibility for the multifamily tax exemption program to all counties required or choosing to plan under RCW 36.70A.040. This change allows more counties to benefit from tax incentives for multifamily housing, aiming to increase affordable housing options. The multifamily tax exemption program provides tax benefits for the rehabilitation or construction of multifamily housing units, provided that a portion of these units are made available as affordable housing for low and moderate-income households.

Expands eligibility for multifamily tax exemption program to all Washington counties.

The bill amends the Washington tax code to expand eligibility for the multifamily tax exemption program to all counties required or choosing to plan under RCW 36.70A.040. This change allows more counties to benefit from tax incentives for multifamily housing, aiming to increase affordable housing options. The multifamily tax exemption program provides tax benefits for the rehabilitation or construction of multifamily housing units, provided that a portion of these units are made available as affordable housing for low and moderate-income households.