The bill aims to address housing needs in certain counties by requiring the Washington Center for Real Estate Research to produce a series of reports that assess housing supply and affordability metrics. The reports will analyze various factors, including income levels, rental prices, and the percentage of cost-burdened households. Notably, a new report due by October 15, 2026, and every two years thereafter, will specifically evaluate the estimated existing housing units and needs across different income levels, as well as each county's progress in closing the housing gap and meeting emergency housing needs.

Additionally, the bill amends existing laws related to financial assistance for public works projects, emphasizing the importance of affordable housing. It introduces new criteria for prioritizing funding applications, including whether projects encourage infill development or increase affordable housing units. The bill also clarifies the definition of "affordable housing" in relation to these criteria. Overall, the legislation seeks to enhance the state's ability to meet local housing demands and improve the availability of affordable housing options.

Statutes affected:
Original Bill: 43.155.070
Substitute Bill: 36.70A.610, 43.155.070