OLYMPIA, Wash. — A Senate bill concerning affordable housing incentives and supported by local legislators of both parties passed the state House Saturday on a bi-partisan 81-16 vote.
SB5287 would incentivize the development of multiple-unit housing and encourage urban development and density through 12 years of property tax exemptions on new construction of eligible units.
To qualify, landlords would need to commit to renting or selling at least twenty percent of the multifamily housing units as affordable housing units to low and moderate-income households,
40th District Democratic Representative Alex Ramel of Bellingham testified that more homes are needed, and noted that this is a tool that can be used to support the missing middle-range housing.
39th District Republican Senator Keith Wagoner of Sedro-Woolley had offered an amendment during Senate debate earlier in March extending the expiration date of the program to the end of 2031, which made it into the bill.
The measure now heads back to the Senate for review of House changes.