Declares that it is in the public interest, and is consistent with the state policies and goals of the growth management act (chapter 36.70A RCW), to offer a tax incentive to promote employer-assisted housing that enables employees to obtain appropriate housing close to jobs and services.

Creates the employer-assisted housing program within the Washington state housing finance commission through which the commission will assist Washington employers in providing a qualified housing benefit to qualified employees.

Requires the joint legislative audit and review committee to conduct an evaluation of the employer-assisted housing program after thirty-six months using performance measurement data as well as other information supplied by the commission and information provided by the employers and employees participating in the program.

Requires the Washington state housing finance commission and the department of revenue to provide the information necessary for the joint legislative audit and review committee to perform the review required under the act.

Expires July 1, 2017.