The bill amends several sections of the Washington state housing finance law to enhance the state's efforts in providing affordable housing. Key changes include the insertion of language to replace "disabled persons" with "individuals with disabilities" in the declaration of public policy, emphasizing inclusivity. Additionally, the bill establishes the housing finance commission as a "constituted authority and" financial conduit, allowing it to issue nonrecourse revenue bonds without using public funds or lending the credit of the state or local government. The commission is also empowered to make mortgage loans directly to borrowers and to participate in various housing programs, thereby increasing its capacity to address the housing crisis.

Furthermore, the bill updates the commission's operational procedures, including the selection of bond counsel, which must now occur every four years instead of every two years, allowing for more stability in legal representation. It also repeals several outdated sections of the law that pertained to housing finance programs, streamlining the commission's functions. Overall, these amendments aim to improve the efficiency and effectiveness of the housing finance commission in facilitating affordable housing solutions across Washington state.

Statutes affected:
Original bill: 43.180.010, 43.180.050, 43.180.080, 43.180.090, 43.180.150