The bill establishes a Tenant Assistance Program in Washington aimed at alleviating the financial burden of high rental costs on residents. The program will provide financial assistance to eligible renters who meet specific criteria, including having a household income at or below a certain percentage of the median income for their county and spending more than 30% of their income on housing costs. The Department of Commerce will administer the program, offering grants to public housing authorities to facilitate tenant assistance payments. The program is designed to promote housing security and improve the quality of life for Washington residents, with a focus on equity and accessibility in the housing market.

Additionally, the bill amends existing laws related to funding sources for housing assistance. It introduces a new tenant assistance program account, which will be funded through a portion of the document recording fees collected by county auditors. From July 1, 2025, to June 30, 2032, the distribution of these funds will be adjusted, with a specific percentage allocated to the tenant assistance program account. The bill also mandates a review of the program's efficacy by a joint committee, which will report its findings and recommendations to the legislature by December 1, 2031. The program is set to expire on June 30, 2032, unless extended or amended.

Statutes affected:
Original Bill: 36.22.250