SB 5225-S - DIGEST

(AS OF SENATE 2ND READING 3/07/03)

Recognizes that housing affordability has become a significant problem for a large portion of society in many parts of the state in recent years. To address this problem, there is a need to allocate funding from the surcharge of ten dollars per instrument charged by the county auditor for each document recorded as established under RCW 36.22.178, to provide low-income persons with rent vouchers to pay for permanent multifamily and single-family, private, for-profit, market rate rental housing.

Provides for rental assistance or vouchers for payment of first and last month's rent and security and other deposits required by a landlord, payable directly to the landlord by the agency administering the county funds, for housing that is affordable to very low-income persons with incomes at or below fifty percent of the area median income.