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H-1409.2 SUBSTITUTE HOUSE BILL 1696 State of Washington 69th Legislature 2025 Regular Session By House Housing (originally sponsored by Representatives Taylor, Peterson, Ryu, Ortiz-Self, Stearns, Salahuddin, Duerr, Reed, Cortes, Street, Mena, Entenman, Hill, Gregerson, Simmons, Obras, Santos, Ramel, Donaghy, Berry, Goodman, Parshley, Stonier, Scott, Fosse, Berg, Macri, Kloba, Nance, Hunt, Springer, Fey, Walen, Leavitt, Reeves, Bergquist, Bernbaum, Doglio, Zahn, Pollet, Ormsby, and Thomas) READ FIRST TIME 02/21/25.
H-0283.2 HOUSE BILL 1696 State of Washington 69th Legislature 2025 Regular Session By Representatives Taylor, Peterson, Ryu, Ortiz-Self, Stearns, Salahuddin, Duerr, Reed, Cortes, Street, Mena, Entenman, Hill, Gregerson, Simmons, Obras, Santos, Ramel, Donaghy, Berry, Goodman, Parshley, Stonier, Scott, Fosse, Berg, Macri, Kloba, Nance, Hunt, Springer, Fey, Walen, Leavitt, Reeves, Bergquist, Bernbaum, Doglio, Zahn, Pollet, Ormsby, and Thomas Read first time 01/29/25.
Referred to Committee on Housing.
1 SHB 1696 (b) The contract must authorize the commission to use up to one percent of the contract funding to provide targeted education, homeownership counseling, and outreach about special purpose credit programs created under this section to black, indigenous, and people of color and other historically marginalized communities in Washington state, including outreach to relevant affinity groups for mortgage lenders;
1 HB 1696 (b) The contract must authorize the commission to use up to one percent of the contract funding to provide targeted education, homeownership counseling, and outreach about special purpose credit programs created under this section to black, indigenous, and people of color and other historically marginalized communities in Washington state, including outreach to relevant affinity groups for mortgage lenders;
(ii) For a program participant who has a household income at or below 80 percent of the area median income for the county where the home is located at the time that the loan is made, a special purpose p.
(ii) A special purpose credit program authorized under this section may fully forgive a loan once the loan has been in repayment for at least five years;
2 SHB 1696 credit program authorized under this section may fully forgive a loan entered into at any time after enactment of the special purpose credit program once the loan has been outstanding for at least five years;
and p.
and (c) Be implemented in conjunction with the commission's housing finance programs.
2 HB 1696 (c) Be implemented in conjunction with the commission's housing finance programs.
(a) Have a household income at or below ((100)) 140 percent of the area median income for the county where the home is located;
(a) Have a household income at or below ((100)) 140 percent of the area median income for the county where the home is located, as adjusted under subsection (5) of this section;
The commission may adjust the area median income threshold for program eligibility by county, up to the threshold specified in subsection (4)(a) of this section, based on a reasonable determination of the need for housing assistance in each county.
3 SHB 1696 (7) By December 31, 2025, and by each following December 31st, and in compliance with RCW 43.01.036, the commission shall submit an annual report to the appropriate committees of the legislature on the progress of the special purpose credit program or programs developed under this section.
3 HB 1696 (7) By December 31, 2025, and by each following December 31st, and in compliance with RCW 43.01.036, the commission shall submit an annual report to the appropriate committees of the legislature on the progress of the special purpose credit program or programs developed under this section.
4 SHB 1696 (h) Two senators, one from each of the two largest caucuses, appointed by the president of the senate;
4 HB 1696 (h) Two senators, one from each of the two largest caucuses, appointed by the president of the senate;
5 SHB 1696 meetings at the call of the chair or by a majority vote of the members of the committee;
5 HB 1696 meetings at the call of the chair or by a majority vote of the members of the committee;
6 SHB 1696 (i) Provide subject matter expertise, administrative assistance, and staff support to the oversight committee;
6 HB 1696 (i) Provide subject matter expertise, administrative assistance, and staff support to the oversight committee;
7 SHB 1696
7 HB 1696
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