Legislative Update: We did it!
Thanks to all those who supported Habitat for Humanity of Washington State’s legislative priorities during the last session.
Less than 48 hours before the end of the 2019 Washington legislative session, the legislature passed Senate Bill 5025/1168 which will assist non-profit, self-help homeownership developers in their fight to increase affordable housing opportunities.
Representative Mari Leavitt (D-University Place), sponsor of the companion bill – HB 1168 – said, “Too many of our low and moderate income households are struggling to afford a home to call their own. For them, it’s a nightmare. It is crucial for self-help ownership developers to have the tools they need to help realize the dream of affordable homeownership”
Senate Bill 5025/1168 creates a real estate excise tax exemption for property upon transfer to a low-income homebuyer – providing non-profit self-help homeownership facilitators significant cost savings on each homeownership unit produced.
Noting that this legislation will assist more than 30 non-profit homeownership facilitators across the state, Senator Mona Das (D-Kent), sponsor of SB 5025 said, “These organizations help Washingtonians end the cycle of generational poverty. We have a growing homelessness crisis in our state. And while this bill won’t solve the whole problem, it will help hard-working people own their own homes.”
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