Title 43 — Title 43 STATE GOVERNMENT—EXECUTIVE
178 chapters · 3,474 sections in this title.
RCW 43.180.120 Rules for fair allocation of bond proceeds for nonrental single-family housing.
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The legislature recognizes that the demand for mortgage loans for nonrental single-family housing will probably greatly exceed the supply of bond proceeds available to satisfy the demand. Therefore, the commission shall adopt rules providing procedures to assure that the bond pro…
RCW 43.180.130 Protection of bondholders—Mortgage insurance.
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The commission is encouraged to adopt policies which will assure that bondholders will be protected against the failure to make mortgage payments financed under this chapter. Such policies may require, among other things, mortgage insurance.[ 1983 c 161 s 13.]
RCW 43.180.140 Rules for energy efficiency.
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The commission shall adopt rules providing for financing assistance to implement cost-effective energy efficiency improvements.[ 1983 c 161 s 14.]
RCW 43.180.150 Bond issues—Terms—Issuance—Purchase, etc.
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(1) The commission's bonds shall bear such date or dates, mature at such time or times, be in such denominations, be in such form, be registered or registrable in such manner, be made transferable, exchangeable, and interchangeable, be payable in such medium of payment, at such p…
RCW 43.180.160 Debt limitation—Washington works housing program.
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(1) The total amount of outstanding indebtedness of the commission may not exceed $14,000,000,000 at any time. The calculation of outstanding indebtedness shall include the initial principal amount of an issue and shall not include interest that is either currently payable or tha…
RCW 43.180.170 Bond issues—Disposition of proceeds—Special fund.
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Proceeds from the sale of all bonds issued under this chapter received by the commission shall be deposited forthwith by the commission in any trust company, savings bank, savings and loan association, or bank having the powers of a trust company within or without the state, in a…
RCW 43.180.180 Bond issues—Disposition of revenues—Special trust fund.
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All revenues received by the commission including funds received from contributions or grants or in any other form to pay principal of and interest on bonds or for other bond requirements such as reserves shall be deposited by the commission in any trust company, savings bank, sa…
RCW 43.180.190 Legal investments.
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Bonds issued under this chapter are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations,…
RCW 43.180.200 Internal revenue code.
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For purposes of the code:(1) The legislature reserves the right at any time to alter or change the structure, organization, programs, or activities of the commission and to terminate the commission, so long as the action does not impair any outstanding contracts entered into by t…
RCW 43.180.220 Housing finance program—Mortgage financing—Investments—Flexible loan underwriting guidelines.
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The commission, in cooperation with the *department of community, trade, and economic development, and the state investment board, shall develop and implement a housing finance program that:(1) Provides subsidized or unsubsidized mortgage financing for single-family homeownership…
RCW 43.180.230 Housing finance program—Program elements.
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The housing finance program developed under RCW 43.180.220 shall:(1) Be limited to borrowers with incomes that do not exceed one hundred fifteen percent of the state or county median family income, whichever is higher, adjusted for family size;(2) Be limited to first-time homebuy…
RCW 43.180.240 Housing finance program—Report to legislature annually—Implementation.
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(1) The commission shall submit to the legislature in its annual report a summary of the progress of the housing finance program developed under RCW 43.180.220. The report shall include, but not be limited to the number of loans made and location of property financed under RCW 43…
RCW 43.180.245 Condominium conversion tenant-to-homeowner program.
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The commission shall implement a condominium conversion tenant-to-homeowner program focused on opportunities for first-time homeownership. The program must assist tenants in multifamily residential buildings that are planned to be converted to condominium ownership by providing i…
RCW 43.180.250 Veteran homeownership downpayment assistance program—Rules.
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(1) By January 1, 2007, the Washington state housing finance commission shall create and implement a veteran homeownership downpayment assistance program to work in conjunction with the commission's housing finance programs. The program will assist the following individuals purch…
RCW 43.180.260 Sustainable energy trust program.
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(1) If economically feasible, the commission shall develop and implement a sustainable energy trust program to provide financing for qualified improvement projects. In developing the sustainable energy trust program, the commission shall establish eligibility criteria for financi…
RCW 43.180.265 Aviation biofuels facilities and production—Bond issuance—Financing powers—Definitions.
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(1) The commission may:(a) Issue bonds for the purpose of financing all or part of the project costs of facilities that are primarily for the production, processing, or handling of aviation biofuels or for the production, processing, or handling of nonfossil biogenic feedstocks t…
RCW 43.180.290 Beginning farmer financing program.
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(1) The commission may develop and implement a program to provide financing for beginning farmers. In developing the program, the commission shall establish eligibility criteria for financing that will enable it to choose applicants who are likely to repay loans made or acquired …
RCW 43.180.295 Renewable energy systems—Report—Financing tool.
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(1) It is the intent of the legislature to investigate methods by which the state may establish or facilitate financing models that allow electric utilities in the state to maximize federal tax incentives and monetize the depreciation of renewable energy systems and other distrib…
RCW 43.180.300 Definitions.
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As used in RCW 43.180.310 through 43.180.360, the following terms have the meanings indicated unless the context clearly requires otherwise.(1) "Construction" or "construct" means construction and acquisition, whether by device, purchase, gift, lease, or otherwise.(2) "Facilities…
RCW 43.180.310 Commission powers.
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The commission has the following powers with respect to nonprofit facilities together with all powers incidental thereto or necessary for the performance thereof:(1) To make secured loans to nonprofit corporations for the purpose of providing temporary or permanent financing or r…
RCW 43.180.320 Revenue bonds.
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(1) The proceeds of the revenue bonds of each issue shall be used solely for the purposes set forth in this subchapter and shall be disbursed in such manner and under such restrictions, if any, provided in the resolution authorizing the issuance of the revenue bonds or in the tru…
RCW 43.180.330 Revenue refunding bonds.
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The commission may provide by resolution for the issuance of revenue refunding bonds for the purpose of refunding any obligations issued for a nonprofit facility, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redempti…
RCW 43.180.340 Trust agreements.
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Any bonds issued under this subchapter may be secured by a trust agreement between the commission and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement may evidence a pledge or assignm…
RCW 43.180.350 Lessees or assignees.
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A lessee or contracting party under a sale contract or loan agreement shall not be required to be the eventual user of a nonprofit facility if any sublessee or assignee assumes all of the obligations of the lessee or contracting party under the lease, sale contract, or loan agree…
RCW 43.180.360 Default.
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The proceedings authorizing any revenue bonds under this subchapter or any financing document securing the revenue bonds may provide that if there is a default in the payment of the principal of or the interest on the bonds or in the performance of any agreement contained in the …
RCW 43.180.900 Conflict with federal requirements.
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If any part of this chapter is found to be in conflict with federal requirements which are a prescribed condition to the allocation of federal funds to the state, the conflicting part of this chapter is hereby declared to be inoperative solely to the extent of the conflict and wi…
RCW 43.180.901 Liberal construction.
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This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof.[ 1983 c 161 s 23.]
RCW 43.180.902 Captions not part of law.
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As used in this chapter and RCW 82.04.408, section captions constitute no part of the law.[ 1983 c 161 s 24.]
RCW 43.180.904 Effective dates—1983 c 161.
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(1) Except as provided in subsection (2) of this section, this act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect immediately.(2) Section 10 of th…
RCW 43.180.905 Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
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For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to …
RCW 43.181.010 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Commission" means the Washington state housing finance commission.(2) "Covenant homeownership program study" means an evidence-based written report prepared by or on b…
RCW 43.181.020 Covenant homeownership account.
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The covenant homeownership account is created in the state treasury. All receipts from the assessment established in RCW 36.22.185 must be deposited into the account. Moneys in the account may be spent only after appropriation. Expenditures from the account may be made only for t…
RCW 43.181.030 Program studies.
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(1)(a) The commission shall complete, or cause to be completed, an initial covenant homeownership program study. The initial covenant homeownership program study must:(i) Document past and ongoing discrimination against black, indigenous, and people of color and other historicall…
RCW 43.181.040 Special purpose credit programs.
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(1) As part of the covenant homeownership program, the department shall contract with the commission to design, develop, implement, and evaluate one or more special purpose credit programs to reduce racial disparities in homeownership in the state by providing down payment and cl…
RCW 43.181.050 Oversight committee.
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(1) The department of financial institutions shall establish the covenant homeownership program oversight committee consisting of the following members appointed by the governor, except for the legislative members who must be appointed by the president of the senate or the speake…
RCW 43.181.900 Findings.
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(1) The legislature finds that:(a) Generations of systemic, racist, and discriminatory policies and practices have created barriers to credit and homeownership for black, indigenous, and people of color and other historically marginalized communities in Washington state. The legi…
RCW 43.185A.005 Findings.
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The legislature finds that current economic conditions, federal housing policies and declining resources at the federal, state, and local level adversely affect the ability of low and very low-income persons to obtain safe, decent, and affordable housing.The legislature further f…
RCW 43.185A.010 Definitions.
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Affordable housing" means residential housing for rental occupancy which, as long as the same is occupied by low-income households, requires payment of monthly housin…
RCW 43.185A.020 Affordable housing program—Purpose—Input.
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The affordable housing program is created in the department for the purpose of developing and preserving affordable housing and coordinating public and private resources targeted to meet the affordable housing needs of low-income households in the state of Washington. The program…
RCW 43.185A.040 Eligible organizations.
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Organizations that may receive assistance from the department under this chapter are local governments, local housing authorities, nonprofit community or neighborhood-based organizations, federally recognized Indian tribes in the state of Washington, and regional or statewide non…
RCW 43.185A.060 Protection of state interest.
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The department shall adopt policies to ensure that the state's interest will be protected upon either the sale or change of use of projects financed in whole or in part under RCW 43.185A.140(4). These policies may include, but are not limited to: (1) Requiring payment to the stat…
RCW 43.185A.070 Monitor recipient activities.
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(1) To the extent funds are appropriated for this purpose, the director shall monitor the activities of recipients of grants and loans under this chapter to determine compliance with the terms and conditions set forth in its application or stated by the department in connection w…
RCW 43.185A.130 Washington housing trust fund.
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There is hereby created in the state treasury an account to be known as the Washington housing trust fund. The housing trust fund shall include revenue from the sources established by this chapter, appropriations by the legislature, private contributions, repayment of loans, and …
RCW 43.185A.140 Use of moneys for loans and grant projects to provide affordable housing—Eligible activities.
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(1) The department must use moneys from the housing trust fund and other legislative appropriations to finance in whole or in part any loan or grant projects that will provide affordable housing for persons and families with special housing needs and who are low-income households…
RCW 43.185A.150 Notice of grant and loan application period—Priorities—Criteria for evaluation.
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(1) During each calendar year in which funds from the housing trust fund or other legislative appropriations are available for use by the department for the affordable housing program, the department must announce to all known interested parties, and on its website, a grant and l…
RCW 43.185A.160 Remittances from real estate broker trust account interest—Grant and loan applications.
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The director shall designate grant and loan applications for approval and for funding under the revenue from remittances made pursuant to RCW 18.85.285.[ 2023 c 275 s 5; 1987 c 513 s 11. Formerly RCW 43.185.074, 18.85.505.]Notes:Effective date—Severability—1987 c 513: See notes f…
RCW 43.185A.170 Preconstruction technical assistance.
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(1) The department may use moneys from the housing trust fund and other legislative appropriations, to provide preconstruction technical assistance to eligible recipients seeking to construct, rehabilitate, or finance housing-related services for very low and low-income persons. …
RCW 43.185A.180 Grants and loans for major building improvements, preservation repairs, and system replacements.
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(1) In order to maintain the long-term viability of affordable housing, using funding from the housing trust fund account established under RCW 43.185A.130 or from other legislative appropriations, the department may make competitive grant or loan awards to projects in need of ma…
RCW 43.185A.190 Reports—Cost data.
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(1) The department must report on its website on an annual basis, for each funding cycle:(a) The number of homeownership and multifamily rental projects funded;(b) The percentage of funding allocated to homeownership and multifamily rental projects; and(c) For both homeownership …
RCW 43.185A.902 Conflict with federal requirements—1991 c 356.
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If any part of this act is found to be in conflict with federal requirements which are a prescribed condition to the allocation of federal funds to the state, the conflicting part of this act is inoperative solely to the extent of the conflict and with respect to the agencies dir…