5287-S2 AMS RIVE S1814.1

2SSB 5287 - S AMD 311

On page 2, line 38, after "city" insert "that otherwise does not meet the qualifications under (a) through (c) of this subsection"

On page 2, at the beginning of line 39, after "84.14.020(1)(a)(iii)" strike "and" and insert "or"

On page 5, line 29, after "2024," insert "for a city as defined in RCW 84.14.010(3)(d),"

On page 7, line 24, after "for" strike "twelfth" and insert "twelve-"

On page 7, line 26, after "with" strike "an option" and insert "rental relocation assistance as provided"

Beginning on page 7, line 28, after "(8)" strike all material through "chapter" on page 8, line 5, and insert "For any 12-year exemption authorized under subsection (1)(a)(ii)(B) or (iii) of this section after the effective date of this section, or for any 12-year exemption extension authorized under subsection (6) of this section, before the expiration of the exemption the applicant must provide tenant relocation assistance in an amount equal to one month's rent at the time the exemption expires to a qualified tenant, unless affordability requirements consistent, at a minimum, with those required under subsection (1)(a)(ii)(B) or (iii) of this section remain in place on the unit after the expiration of the exemption. To be eligible for tenant relocation assistance under this subsection, the tenant must occupy an income-restricted unit and qualify as a low-income household under this chapter"

On page 13, line 16, after "2024," insert "for a city as defined in RCW 84.14.010(3)(d),"

EFFECT: Modifies tenant options for assistance when the 12-year property tax exemption expires by providing one month's rent as tenant relocation assistance to qualifying low-income households. Makes technical and clarifying changes.