The bill establishes the Affordable Homeownership Revolving Loan Fund Program within the Washington State Department of Commerce, designed to provide financial assistance to nonprofit organizations that create permanently affordable homeownership for low-income households. Eligible organizations can receive loans covering up to 50% of total project costs, with interest rates ranging from 1% to 2.5%. The housing developed through this program must remain affordable for at least 99 years, and there will be provisions for monitoring and compliance to ensure adherence to these requirements. Additionally, the bill creates the Affordable Homeownership Revolving Loan Fund account in the state treasury, which will be funded through legislative appropriations, loan repayments, and other sources, with funds restricted to the program's purposes. The bill also modifies the management of the treasury income account by clarifying its subject to chapter 43.88 RCW and removing the requirement for appropriations for payments to financial institutions. It establishes that payments will be made before the distribution of earnings, which the state treasurer will distribute monthly to the general fund and various specified accounts based on their average daily balances. Notably, the bill introduces the affordable homeownership revolving loan fund account as an account eligible to receive a share of these earnings. Furthermore, the bill creates new sections that establish a new chapter in Title 43 RCW, detailing the expiration of certain sections and their effective dates, with Section 5 set to expire on July 1, 2028, and Section 6 taking effect on the same date.