Bill > SB5679

This bill expands the eligibility for the Multifamily Tax Exemption (MFTE) program to all counties that are either required or choose to plan under the Growth Management Act (RCW 36.70A.040). Currently, the program has been limited to counties with specific population requirements or other narrowly defined criteria. The bill modifies the definition of "county" in the existing law, removing the previous population restriction of 170,000 unincorporated residents and instead basing eligibility on participation in growth management planning. The legislation aims to make the tax exemption program more widely accessible, potentially encouraging more residential development in a broader range of counties. The MFTE program provides a property tax exemption for developers who create multiple-unit housing and dedicate a portion of units as affordable housing for low and moderate-income households. Specifically, developers must commit to renting or selling at least 20% of their multifamily housing units at affordable rates to qualify for the tax incentive. By expanding the program's geographic reach, the bill seeks to promote housing development and affordability across more of Washington state.

Housing and Urban Affairs

https://app.leg.wa.gov/billsummary?BillNumber=5679&Year=2025&Initiative=false