Bill > SB5647

This bill provides a real estate excise tax exemption for the sale of qualified affordable housing, meaning that when certain types of affordable housing are sold, the tax typically paid on real estate transactions will not apply. This exemption is specifically for "ownership housing" sold by an "affordable homeownership facilitator," which is defined as a non-profit organization that develops housing for low-income households, where household income does not exceed 80% of the median income for the area. The bill also amends existing law to include this exemption and sets an expiration date of January 1, 2030, for this new tax relief.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5647&Year=2025&Initiative=false