This bill amends existing Washington state laws regarding document recording fees and assessments related to the covenant homeownership program. Starting January 1, 2024, the county auditor will be required to collect a $100 assessment for each document recorded, which will be in addition to any other charges allowed by law. Notably, the bill eliminates the previous exemptions for assignments or substitutions of previously recorded deeds of trust from both the document recording fee and the covenant homeownership program assessment. Other exemptions remain in place, including documents related to vital records, marriage licenses, and certain lien documents.

Additionally, the bill modifies the surcharge structure for recorded documents, which will now include a $183 surcharge per instrument. Similar to the assessment, the exemptions for assignments or substitutions of previously recorded deeds of trust are removed. The funds collected from these fees and surcharges will be allocated to various programs aimed at addressing homelessness and affordable housing, with specific percentages designated for administrative costs, local homeless housing plans, and support for extremely low-income households. The bill emphasizes the importance of using these funds to support housing activities that directly benefit vulnerable populations within the state.

Statutes affected:
Original Bill: 36.22.185, 36.22.250
Bill as Passed Legislature: 36.22.185, 36.22.250