The bill aims to expand eligibility for the multifamily tax exemption program to all counties that are required or choose to plan under RCW 36.70A.040. It amends existing definitions in RCW 84.14.010, particularly changing the definition of "County" to include those that are required or choose to plan under the specified RCW, removing the previous requirement of having an unincorporated population of at least 170,000. Additionally, the bill modifies the criteria for designating a "residential targeted area" in RCW 84.14.040, ensuring that areas lacking sufficient residential housing can be designated, while also requiring an evaluation of potential displacement risks for current residents.

Furthermore, the bill establishes that for any multiunit housing in unincorporated areas, property owners must commit to making at least 20% of the units affordable to low and moderate-income households. It allows governing authorities to implement more stringent income eligibility and rent limits, as well as conditions related to wage rates and apprenticeship utilization for construction projects. The legislation emphasizes the importance of creating affordable housing opportunities while also addressing the potential impact on existing residents in designated areas.

Statutes affected:
Original Bill: 84.14.010, 84.14.040