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 program will be administered by the Department of Commerce, which will provide grants to public housing authorities to facilitate tenant assistance payments. The assistance payments will be capped at $400 or the amount necessary to reduce the renter's housing costs to no more than 30% of their income, and eligible renters can receive support for up to 12 consecutive months.

Additionally, the bill amends existing laws regarding the distribution of funds collected from a document recording fee. From July 1, 2025, through June 30, 2032, the percentage of funds allocated to the home security fund account will be reduced, while a new tenant assistance program account will receive 20% of the total funds collected during this period. The bill also mandates a review of the tenant assistance 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