On page 2, beginning on line 22 of the amendment, strike "located in a county planning under the growth management act"

     On page 4, line 28 of the amendment, after "For" strike "((ten)) eight" and insert "properties for which applications for certificates of tax exemption eligibility are submitted under chapter 84.14 RCW before the effective date of this act, the value is exempt for ten"

     On page 4, line 30 of the amendment, after "certificate" strike "of tax exemption eligibility((" and insert "((of tax exemption eligibility"

     On page 4, beginning on line 33 of the amendment, strike all of subsection (1)(a)(ii) and insert the following:
     "(ii) For properties for which applications for certificates of tax exemption eligibility are submitted under chapter 84.14 RCW on or after the effective date of this act, the value is exempt:
     (A) For eight successive years beginning January 1st of the year immediately following the calendar year of issuance of the certificate; or
     (B) For twelve successive years beginning January 1st of the year immediately following the calendar year of issuance of the certificate, if the property otherwise qualifies for the exemption under chapter 84.14 RCW and meets the conditions in this subsection (1)(a)(ii)(B). For the property to qualify for the twelve-year exemption under this subsection, the applicant must commit to renting or selling at least twenty percent of the multifamily housing units as affordable housing units to low and moderate-income households, and the property must satisfy that commitment and any additional affordability and income eligibility conditions adopted by the local government under this chapter. In the case of projects intended exclusively for owner occupancy, the minimum requirement of this subsection (1)(a)(ii)(B) may be satisfied solely through housing affordable to moderate-income households."

     On page 5, beginning on line 1 of the amendment, strike all of subsection (2)

     Renumber the remaining subsections consecutively and correct any internal references accordingly.

     On page 5, beginning on line 16 of the amendment, after "exemption" strike all material through "is" on line 17 and insert "may, at the local government's discretion, be"

     On page 5, beginning on line 19 of the amendment, strike all material through "whole." on line 22

     On page 14, beginning on line 31 of the amendment, strike all of section 12

     Renumber the remaining section consecutively and correct any internal references accordingly.