HB 1808 Washington House · 2025-2026 Regular Session

Creating an affordable homeownership revolving loan fund program.

HB 1808 creates a state-funded revolving loan program to support permanently affordable homeownership for low-income households. The program provides loans (up to 50% of project costs) to nonprofit developers building housing that remains affordable for at least 99 years through long-term restrictions on resale and ownership. Loans carry interest rates between 1% and 2.5%, with repayments recycled into the fund to finance new projects. This directly affects low-income homebuyers (defined as households earning ≤80% of local median income) and nonprofit developers who build housing meeting specific affordability standards.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 12, 2026 Last action Jan 12, 2026

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What changed between versions

Bill → Substitute Bill · 5 edits

MODERATE

The bill was amended to transfer authority from the Housing Finance Commission to the Department of Commerce, which now administers the program and manages a new revolving loan fund account in the state treasury. The bill was also updated to include an effective date and an expiration date, and it now allows the department to use up to three percent of the fund for administrative costs.

Scope change

The program's administration shifted from the Washington State Housing Finance Commission to the Department of Commerce, and a specific state treasury account was created to hold the program's funds.

FISCAL

A new Section 3 was added to create a specific 'affordable homeownership revolving loan fund account' in the state treasury, replacing the previous reliance on general commission funds.

A new provision allows the Department of Commerce to use up to three percent of the biennial appropriation from the fund for administrative costs.

ELIGIBILITY

Authority over the program was transferred from the 'Commission' (Housing Finance Commission) to the 'Department' (Department of Commerce) in all operational sections.

TIMELINE

The act now includes specific language regarding an effective date and an expiration date.

DEFINITION

The list of original sponsors was updated to reflect the bill's referral to the House Housing committee.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jan 12, 2026

Introduced

By resolution, reintroduced and retained in present status.

lower

Feb 25, 2025

Lower · Passed

Public hearing in the House Committee on Capital Budget at 9:00 AM.

lower

Feb 21, 2025

Committee

Referred to Capital Budget.

lower

Feb 18, 2025

Lower · Passed

Minority; without recommendation.

lower

Feb 18, 2025

Lower · Passed

Executive action taken in the House Committee on Housing at 4:00 PM.

lower

Feb 13, 2025

Lower · Passed

Public hearing in the House Committee on Housing at 8:00 AM.

lower

1 primary · 17 co-sponsors