Providing for adequate provisions for low-income homeownership opportunities.
Summary
Requires the Department of Commerce (Department) to use moneys from the Housing Trust Fund (HTF), under the Housing Assistance Program, to finance loans or projects that provide affordable housing to households with incomes at or below 80 percent, rather than 50 percent, of the area median family income.
Authorizes the Department to provide down payment or closing cost assistance to a wider range of first-time home buyers.
Requires the Department to annually report specific data on its website regarding the number and percentage of households served under HTF programs for both homeownership and multifamily projects.
From the Engrossed Substitute House Bill Report (ESSB 5746), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not passDid not pass · passed Senate, stalled in House