SB 5848 - DIGEST

(SEE ALSO PROPOSED 1ST SUB)

     Declares that there is credited against the tax imposed under chapter 82.04 RCW, twenty-five percent of the value donated for the provision in this state of low-cost housing to low-income buyers.  The donation must be made to a nonprofit organization that devotes a majority of its resources to the development, rehabilitation, or preservation of affordable housing.  The department shall make available to prospective donors a list of nonprofit organizations that qualify as nonprofit organizations devoting a majority of their resources to housing constructions.