On page 3, beginning on line 3, strike all material through "subsection.))" on line 14 and insert the following:

"(7) ((From June 30, 2012, until December 31, 2016, a city or county may use the greater of one hundred thousand dollars or thirty-five percent of available funds under this section, but not to exceed one million dollars per year, for operations and maintenance of existing capital projects as defined in subsection (5) of this section, and counties may use available funds under this section for the payment of existing debt service incurred for capital projects as defined in RCW 82.46.010. If a county uses available funds for payment of existing debt service under RCW 82.46.010, the total amount used for payment of debt service and any amounts used for operations and maintenance is subject to the limits in this subsection.))Counties and cities financing the planning, acquisition, construction, reconstruction, repair, replacement, rehabilitation, or improvement of facilities for those experiencing homelessness and affordable housing projects under subsection (5) of this section must report annually to the department of commerce on the use of revenue and progress made in supporting affordable housing and homelessness projects. The department of commerce must adopt rules prescribing the content of such reports. By December 1, 2022, and in compliance with RCW 43.01.036, the department of commerce must submit a report to the appropriate legislative committees with regard to such uses and progress."

EFFECT: Allows counties and cities to fund affordable housing and homelessness projects with real estate excise tax revenue until January 1, 2024. Requires counties and cities funding affordable housing and homelessness projects to report to the Department of Commerce annually on the use of revenue and progress made. Requires the Department of Commerce to submit a report to the Legislature by December 1, 2022, on the use of revenue and progress made.