FINAL BILL REPORT

                   SB 6729

                          C 128 L 98

                      Synopsis as Enacted

Brief Description:  Financing senior housing.

Sponsors:  Senators Prentice, Winsley, Finkbeiner, Fairley, Rasmussen and Kline.

Senate Committee on Financial Institutions, Insurance & Housing

House Committee on Trade & Economic Development

Background:  In 1997, the Legislature established a task force to develop and recommend new housing finance methods for low-income seniors and persons with disability.  Under that legislation, the task force goes out of existence in February 1998.

Some of the recommendations developed by the task force need further work and translation into proposed legislation.  The cost of operation of the task force in 1997 was absorbed by the agencies without a designated budget item.

Summary:  The Task Force on Financing Senior Housing and Housing for Persons With Disabilities is recreated.  The membership of the task force is changed slightly with the addition of the Secretary of the Department of Social and Health Services, or designee, and the deletion of the Director of the State Investment Board.

The Department of Community, Trade, and Economic Development, the Washington State Investment Board, and the Washington State Housing Finance Commission are directed to supply information and administrative assistance to the task force.

A progress report must be submitted to the Legislature by December 15, 1998.

The act expires February 1, 1999.

Votes on Final Passage:

Senate 48 0

House     97 0 (House amended)

Senate    47 0 (Senate concurred)

Effective:  March 23, 1998