H-1809.1          _______________________________________________

                            HOUSE JOINT RESOLUTION 4228

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State of Washington              52nd Legislature             1991 Regular Session

By Representatives Nelson, Wineberry and Holland.

Read first time February 26, 1991.  Referred to Committee on Housing.Amending the Constitution to allow financial assistance for first-time homebuyers.

     BE IT RESOLVED, BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF WASHINGTON, IN LEGISLATIVE SESSION ASSEMBLED:

     THAT, At the next general election to be held in this state there shall be submitted to the qualified voters of the state for their approval and ratification, or rejection, an amendment to Article VIII of the Constitution of the state of Washington by adding a new section to read as follows:

     Article VIII, section ---.  Notwithstanding the provisions of section 5 of this Article, any county, city, town, quasi-municipal corporation, municipal corporation, or political subdivision of the state may, as authorized by the legislature, use public moneys or credit to assist first-time homebuyers in financing the acquisition of their home.  Except as provided in section 7 of this Article, an appropriate charge back shall be made for such extension of public moneys or credit and the same shall be a lien against the structure benefited.  Any financing authorized by this Article shall only be used to assist in the purchase of the principal residence of the first-time homebuyer and shall not be used for any other purpose.  The legislature may place such restrictions and conditions upon the granting of assistance to first-time homebuyers as it deems proper.  Such restrictions and conditions may include, but are not limited to, limiting the financial assistance to those first-time homebuyers below a specific level of income and those fulfilling certain minimum residential requirements.

     BE IT FURTHER RESOLVED, That the secretary of state shall cause notice of the foregoing constitutional amendment to be published at least four times during the four weeks next preceding the election in every legal newspaper in the state.