Concerning the exemption of property taxes for nonprofit homeownership development.
Summary
Creates a tax exemption for real property owned by a nonprofit entity for the purpose of developing residences on the property for sale to low-income households.
Provides that the property tax exemption may last up to seven years, with a possible three-year extension, unless the property is sold within that time period.
From the Substitute House Bill Report (SSB 6211), written by the Legislature's nonpartisan staff. Read the full report ↗
Rules suspended. Placed on Third Reading. (SSB 6211)
Committee amendment(s) adopted as amended. (SSB 6211)
Placed on second reading. (SSB 6211)
Committee relieved of further consideration. (SSB 6211)
Referred to Appropriations. (SSB 6211)
Minority; do not pass. (SSB 6211)
FIN - Majority; do pass with amendment(s). (SSB 6211)
Referred to Finance. (SSB 6211)
Rules Committee relieved of further consideration. (SSB 6211)
Referred to Rules 2 Review. (SSB 6211)
CDHT - Majority; do pass. (SSB 6211)
First reading, referred to Community Development, Housing & Tribal Affairs (Not Officially read and referred until adoption of Introduction report). (SSB 6211)