Provides that a seller of a low-cost single-family dwelling unit constructed by the seller who has paid the tax levied by RCW 82.08.020 is eligible for an exemption in the form of a remittance, provided that the low-cost single-family dwelling unit is sold to a qualified low-income buyer for use as that buyer's primary residence. The amount of the remittance shall be computed under this act and shall be based on the state share of sales tax under RCW 82.08.020.

Provides that a seller of a low-cost single-family dwelling unit claiming an exemption from the state tax in the form of a remittance under this act must pay the tax imposed by RCW 82.08.020. After the low-cost single-family dwelling unit is sold, the seller may then apply to the department for a remittance of fifty percent of the tax paid under RCW 82.08.020 on: (1) Tangible personal property incorporated as an ingredient or component of the low-cost single-family dwelling unit during the course of constructing such dwelling unit;

(2) Charges made for labor and services rendered in respect to the constructing of the low-cost single-family dwelling unit; and

(3) Charges made for labor and services rendered in respect to installing building fixtures during the course of constructing the low-cost single-family dwelling unit.