HB 2060 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

     Provides that a surcharge of ten dollars per instrument shall be charged by the county auditor for each real property document recorded, which will be in addition to any other charge authorized by law.

     Provides that forty percent of the revenue generated through this surcharge will be transmitted monthly to the state treasurer who will deposit the funds into the Washington housing trust account.  The office of community development of the department of community, trade, and economic development will develop guidelines for: (a) The use of these funds to support unusual or one-time operation and maintenance costs of low-income housing projects that have been developed with housing trust funds; and (b) innovative housing demonstration projects for moderate and middle-income populations.

     Provides that sixty percent of the revenue generated by this surcharge will be retained by the county and be deposited into a fund that must be used by the county and its cities and towns for low-income housing projects.