Provides that, by January 1, 2007, the Washington state housing finance commission shall create and implement a veteran homeownership downpayment assistance program to work in conjunction with the commission's housing finance programs. The program will assist the following individuals purchase a home: (1) Washington state residents who are veterans, as defined by RCW 41.04.007;

(2) Members and former members of the Washington national guard and reserve; and

(3) Never remarried spouses and dependent children of deceased veterans, as defined by RCW 41.04.007.