Exempting a sale or transfer of real property for affordable housing to a nonprofit entity, housing authority, public corporation, county, or municipal corporation from the real estate excise tax.
Summary
Exempts from real estate excise tax the sale or transfer of real property to a nonprofit, cooperative association, housing authority, public corporation, county, or municipal corporation if the grantee intends to use the property for housing for low-income persons.
From the Engrossed Substitute House Bill Report (ESHB 1643), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to exempting a sale or transfer of real property for affordable housing to a nonprofit entity, housing authority, public corporation, county, or municipal corporation from the real estate excise tax;