Title 43, STATE GOVERNMENT—EXECUTIVE

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 homeb…

(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…

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…

(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…

(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…

(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 …

(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 …

(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…

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) "Faciliti…

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 …

(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…

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…

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…

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…

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 …

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…

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.]

As used in this chapter and RCW 82.04.408, section captions constitute no part of the law. [ 1983 c 161 s 24.]

(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 t…

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 …

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…

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…

(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 historical…

(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…

(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…

(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 leg…

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 …

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 housi…

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…

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…

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…

(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…

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 …

(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…

(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…

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 note…

(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. …

(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…

(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 homeownersh…

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…

(1) The legislature finds that: (a) Housing is of vital statewide importance to the health, safety, and welfare of the residents of the state; (b) Reducing homelessness and moving individuals and families toward stable, affordable housing is of vital statewide importance; (c) Saf…

It is the goal of the state of Washington to coordinate, encourage, and direct, when necessary, the efforts of the public and private sectors of the state and to cooperate and participate, when necessary, in the attainment of a decent home in a healthy, safe environment for every…

The objectives of the Washington housing policy act shall be to attain the state's goal of a decent home in a healthy, safe environment for every resident of the state by strengthening public and private institutions that are able to: (1) Develop an adequate and affordable supply…

Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) "Affordable housing" means residential housing that is rented or owned by a person or household whose monthly housing costs, including utilities other than telephone,…

(1) The department shall establish the affordable housing advisory board to consist of 25 members. (a) The following 22 members shall be appointed by the governor: (i) Two representatives of the residential construction industry; (ii) Two representatives of the home mortgage lend…

The affordable housing advisory board shall: (1) Analyze those solutions and programs that could begin to address the state's need for housing that is affordable for all economic segments of the state, and special needs populations, including but not limited to programs or propos…