Declares that a decent, appropriate, and affordable home in a healthy, safe environment for every household should be a state goal and that, at a minimum, this goal must be accomplished for every very low-income household by 2020. Furthermore, this goal includes increasing the percentage of very low-income households who are able to obtain and retain housing without government subsidies or other public support.

Finds that there are many root causes of the affordable housing shortage and declares that it is critical that such causes be analyzed, effective solutions be developed, implemented, monitored, and evaluated, and that these causal factors be eliminated. The legislature also finds that there is a taxpayer and societal cost associated with a lack of jobs that pay self-sufficiency standard wages and a shortage of affordable housing, and that the state must identify and quantify that cost.

Finds that the support and commitment of all sectors of the statewide community is critical to accomplishing the state's affordable housing for all goal.

Finds that the provision of housing and housing-related services should be administered at the local level. However, the state should play a primary role in: Providing financial resources to achieve the goal at all levels of government; researching, evaluating, benchmarking, and implementing best practices; continually updating and evaluating statewide housing data; developing a state plan that integrates the strategies, goals, objectives, and performance measures of all other state housing plans and programs; coordinating and supporting county government plans and activities; and directing quality management practices by monitoring both state and county government performance towards achieving interim and ultimate goals.

Declares that the systematic and comprehensive performance measurement and evaluation of progress toward interim goals and the immediate state affordable housing goal of a decent, appropriate, and affordable home in a healthy, safe environment for every low-income household in the state by 2020 is a necessary component of the statewide effort to end the affordable housing crisis.

Requires the joint legislative audit and review committee to conduct a performance audit of the state affordable housing for all program every four years. The audit must include an analysis of the department's expenditures of funds from sources established by RCW 36.22.178 (as recodified by this act) and all other sources directed to the affordable housing for all program. The first audit must be conducted on or before December 31, 2010. Each audit must take no longer than six months or fifty thousand dollars to complete.

Directs the department of community, trade, and economic development to conduct a study to evaluate the potential development of a voluntary statewide, low-income household housing waiting list database that would include information on all low-income households requesting housing assistance for the purpose of connecting such households with appropriate housing opportunities.

Requires the department to report the results of this study to the appropriate committees of the legislature by December 31, 2008.

Requires the department to create or purchase, and implement by December 31, 2009, a master affordable housing database that includes specific information about existing affordable rental housing stock in the state of Washington.

Requires the joint legislative audit and review committee to conduct an evaluation and comparison of the cost-efficiency of rental housing voucher programs funded with state or local moneys versus other low-income housing projects funded with state or local moneys that are intended to assist low-income households to obtain and retain affordable housing.

Requires the joint legislative audit and review committee to present the results of this study to the appropriate committees of the legislature by December 31, 2008.

Appropriates the sum of seven million dollars, or as much thereof as may be necessary, for the fiscal year ending June 30, 2008, from the general fund to the affordable housing for all account created in this act to be used by the department of community, trade, and economic development to: (1) Meet planning, evaluation, and reporting requirements associated with the affordable housing for all program;

(2) Provide technical assistance to counties to help them meet planning, reporting, evaluation, and quality management requirements of the affordable housing for all program; and

(3) Distribute remaining funds to the counties participating in the affordable housing for all program, using a formula as determined by the department of community, trade, and economic development, to be used for county planning, data system creation, data collection, program implementation purposes, housing programs eligible under RCW 36.22.178 (as recodified by this act), and other housing projects or housing services described in the county affordable housing for all plan.