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State Land Use Enacted Legislation
| Bill # | State | Year | Party | Topic |
|---|---|---|---|---|
HB 1892 |
WA | 2024 | D | Affordable housing incentives and financing, Workforce Housing |
Provided by Furman
Summary
- Provides that the Workforce Housing Accelerator Revolving Loan Fund Program (WHLFP) is established within the Department of Commerce (DOC) under which loans may be issued to eligible organizations to assist with the development of housing for low-income households.
- The Washington State Housing Finance Commission (WHFC) must administer the program.
- Directs that the Department of Commerce (DOC) contracts with the Washington State Housing Finance Commission (WHFC) to administer the WHLFP.
- The Washington State Housing Finance Commission (WHFC) is a finance authority established to act as a channel to make available additional funds at affordable rates to provide housing.
- Administers the Low-Income Housing Tax Credit Program (LIHTC).
- The WHFC must:
- Ensure the loan funding is distributed equitably geographically, with no more than $20,000,000 per round of funding going to projects in each individual county.
- Establish procedures for long-term monitoring of affordability of housing and compliance.
- Establish annual reporting requirements for loan recipients.
- “Low-income household” is specifically defined as “a single person, family, or unrelated persons living together whose adjusted income is at or above 50 percent, but not exceeding 80 percent, of the median family income.”
Provided by lawmakers
Bill Title
Concerning the workforce housing accelerator program.
Related resources
Enacted Legislation Related Posts
Research and analysis from the Furman Center on this and related housing policy topics.
