reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.167 - Community Preservation and Development Authorities. › 43.167.070 - Central district community preservation and development authority.

RCW 43.167.070
Central district community preservation and development authority.
(1) The legislature finds that the Central district is identified as the oldest surviving residential neighborhood in Seattle where, historically, residents who faced housing and economic discrimination elsewhere in the city could settle and raise families, resulting in a richly diverse multicultural community. The legislature also finds that the Central district is widely recognized as the historical center of the Seattle African American community which is reflected in the historic buildings, institutions, and culture of the neighborhood. The legislature further finds that the Central district has been adversely impacted by public works, capital projects with significant public funding, and other land use decisions which have contributed to dislocation, displacement, and the disintegration of an identifiable existing community and its historical and cultural character. In addition, the legislature finds that members of the community who meet the definition of constituency contained in RCW 43.167.003(3) have submitted a proposal to form a community preservation and development authority to preserve, restore, and enhance the unique, history, culture, and character of the Central district.
(2) The legislature authorizes the establishment of the Central district community preservation and development authority, which boundaries are those contained in the Central district within the city of Seattle, to preserve the unique character and history of the area pursuant to RCW 43.167.007.
[ 2019 c 447 § 5.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.010 - Findings—Declaration.

RCW 43.168.010
Findings—Declaration.
The legislature finds that:
(1) The economic health and well-being of the state, particularly in areas of high unemployment, economic stagnation, and poverty, is of substantial public concern.
(2) The consequences of minimal economic activity and persistent unemployment and underemployment are serious threats to the safety, health, and welfare of residents of these areas, decreasing the value of private investments and jeopardizing the sources of public revenue.
(3) The economic and social interdependence of communities and the vitality of industrial and economic activity necessitates, and is in part dependent on preventing substantial dislocation of residents and rebuilding the diversification of the areas' economy.
(4) The ability to remedy problems in stagnant areas of the state is beyond the power and control of the regulatory process and influence of the state, and the ordinary operations of private enterprise without additional governmental assistance are insufficient to adequately remedy the problems of poverty and unemployment.
(5) The revitalization of depressed communities requires the stimulation of private investment, the development of new business ventures, the provision of capital to ventures sponsored by local organizations and capable of growth in the business markets, and assistance to viable, but under-financed, small businesses in order to create and preserve jobs that are sustainable in the local economy.
Therefore, the legislature declares there to be a substantial public purpose in providing capital to promote economic development and job creation in areas of economic stagnation, unemployment, and poverty. To accomplish this purpose, the legislature hereby creates the rural Washington loan fund and vests in the department of commerce the authority to spend federal funds to stimulate the economy of distressed areas.
[ 2023 c 470 § 2065; 1999 c 164 § 501; 1985 c 164 § 1.]
NOTES:
Explanatory statement—2023 c 470: See note following RCW 10.99.030.
Findings—Intent—Part headings and subheadings not law—Effective date—Severability—1999 c 164: See notes following RCW 43.160.010.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.040 - Approval of applications for federal community development block grant funds for projects.

RCW 43.168.040
Approval of applications for federal community development block grant funds for projects.
Subject to the restrictions contained in this chapter, the director is authorized to approve applications of local governments for federal community development block grant funds which the local governments would use to make loans to finance business projects within their jurisdictions. Applications approved by the director under this chapter shall conform to applicable federal requirements.
[ 2005 c 136 § 4; 1987 c 461 § 3; 1985 c 164 § 4.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.055 - Application priorities.

RCW 43.168.055
Application priorities.
In addition to the requirements of RCW 43.168.050, the department shall, subject to applicable federal funding criteria, give priority to applications that capitalize or recapitalize an existing or new local revolving fund based on criteria established by the department.
[ 1999 c 164 § 503.]
NOTES:
Findings—Intent—Part headings and subheadings not law—Effective date—Severability—1999 c 164: See notes following RCW 43.160.010.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.060 - Local development organizations—Duties of department—Rules.

RCW 43.168.060
Local development organizations—Duties of department—Rules.
The department is encouraged to work with local development organizations to promote applications for loans by the fund. The department shall also provide assistance to local development organizations and local governments to identify viable projects for consideration. The department shall adopt such rules and regulations as are appropriate for implementation of this chapter.
[ 2005 c 136 § 6; 1985 c 164 § 6.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.070 - Processing of applications—Contents of applications.

RCW 43.168.070
Processing of applications—Contents of applications.
The director may receive and approve applications on a monthly basis but shall receive and approve applications on at least a quarterly basis for each fiscal year. The director shall make every effort to simplify the loan process for applicants. Department staff shall process and assist in the preparation of applications. Each application shall show in detail the nature of the project, the types and numbers of jobs to be created, wages to be paid to new employees, and methods to hire unemployed persons from the area. Each application shall contain a credit analysis of the business to receive the loan. The director may respond on short notice to applications of a serious or immediate nature.
[ 2005 c 136 § 7; 1993 c 512 § 14; 1987 c 461 § 5; 1985 c 164 § 7.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.090 - Use of federal community development block grant funds.

RCW 43.168.090
Use of federal community development block grant funds.
The department shall use for the fund an amount of federal community development block grant funds equal to the amount of state funds transferred or appropriated to the department for purposes of supplementing the department's block grant funds.
[ 2005 c 136 § 8; 1985 c 164 § 9.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.100 - Entitlement community grants—Conditions.

RCW 43.168.100
Entitlement community grants—Conditions.
The director may make grants of state funds to local governments which qualify as "entitlement communities" under the federal law authorizing community development block grants. These grants may only be made on the condition that the entitlement community provide the director with assurances that it will: (1) Spend the grant moneys for purposes and in a manner which satisfies state constitutional requirements; (2) spend the grant moneys for purposes and in a manner which would satisfy federal requirements; and (3) spend at least the same amount of the grant for loans to businesses from the federal funds received by the entitlement community.
[ 2005 c 136 § 9; 1993 c 512 § 15; 1986 c 204 § 1; 1985 c 164 § 10.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.110 - Rural Washington loan fund.

RCW 43.168.110
Rural Washington loan fund.
There is established the rural Washington loan fund which shall be an account in the state treasury. All loan payments of principal and interest which are transferred under RCW 43.168.050 shall be deposited into the account. Moneys in the account may be spent only after legislative appropriation for loans under this chapter. Any expenditures of these moneys shall conform to federal law.
[ 1999 c 164 § 504; 1992 c 235 § 11; 1985 c 164 § 11.]
NOTES:
Findings—Intent—Part headings and subheadings not law—Effective date—Severability—1999 c 164: See notes following RCW 43.160.010.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.120 - Guidelines for use of funds for existing economic development revolving loan funds—Grants to local governments to assist existing economic development revolving loan funds.

RCW 43.168.120
Guidelines for use of funds for existing economic development revolving loan funds—Grants to local governments to assist existing economic development revolving loan funds.
(1) The department shall develop guidelines for rural Washington loan funds to be used to fund existing economic development revolving loan funds. Consideration shall be given to the selection process for grantees, loan quality criteria, legal and regulatory issues, and ways to minimize duplication between rural Washington loan funds and local economic development revolving loan funds.
(2) If it appears that all of the funds appropriated to the fund for a biennium will not be fully granted to local governments within that biennium, the department may make available up to twenty percent of the eighty percent of the funds available to projects in distressed areas under RCW 43.168.050(10) for grants to local governments to assist existing economic development revolving loan funds in distressed areas. The grants to local governments shall be utilized to make loans to businesses that meet the specifications for loans under this chapter. The local governments shall, to the extent permitted under federal law, agree to convey to the fund the principal and interest payments from existing loans that the local governments have made through their revolving loan funds. Under circumstances where the federal law does not permit the department to require such transfer, the department shall give priority to applications where the applicants on their own volition make commitments to provide for the transfer.
[ 1999 c 164 § 505; 1987 c 461 § 6.]
NOTES:
Findings—Intent—Part headings and subheadings not law—Effective date—Severability—1999 c 164: See notes following RCW 43.160.010.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.130 - Development of performance standards.

RCW 43.168.130
Development of performance standards.
The director shall develop performance standards for judging the effectiveness of the program. Such standards shall include, to the extent possible, examining the effectiveness of grants in regard to:
(1) Job creation for individuals of low and moderate income;
(2) Retention of existing employment;
(3) The creation of new employment opportunities;
(4) The diversification of the economic base of local communities;
(5) The establishment of employee cooperatives;
(6) The provision of assistance in cases of employee buy-outs of firms to prevent the loss of existing employment;
(7) The degree of risk assumed by the fund, with emphasis on loans which did not receive financing from commercial lenders, but which are considered financially sound.
[ 2005 c 136 § 10; 1998 c 245 § 52; 1987 c 461 § 7.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.168 - Rural Washington Loan Fund. › 43.168.150 - Minority and women-owned businesses—Application process—Joint loan guarantee program.

RCW 43.168.150
Minority and women-owned businesses—Application process—Joint loan guarantee program.
Subject to the restrictions contained in this chapter, the director is authorized to approve applications of minority and women-owned businesses for loans or loan guarantees from the fund. Applications approved by the director under this chapter shall conform to applicable federal requirements. The director shall prioritize available funds for loan guarantees rather than loans when possible. The director may enter into agreements with other public or private lending institutions to develop a joint loan guarantee program for minority and women-owned businesses. If such a program is developed, the director may provide funds, in conjunction with the other organizations, to operate the program. This section does not preclude the director from making individual loan guarantees.
To the maximum extent practicable, the funds available under this section shall be made available on an equal basis to minority and women-owned businesses. The director shall submit to the appropriate committees of the senate and house of representatives quarterly reports that detail the number of loans approved and the characteristics of the recipients by ethnic and gender groups.
[ 2005 c 136 § 11; 1993 c 512 § 13.]
NOTES:
Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.176 - Small Business Incubator Program. › 43.176.010 - Policy.

RCW 43.176.010
Policy.
It is hereby declared to be the policy of the state of Washington to assist in the creation and expansion of innovative small commercial enterprises that produce marketable goods and services through the employment of Washington residents, the use of technology, and the application of best management practices. This policy is to be implemented through the use of small business incubators.
[ 2004 c 237 § 1.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.176 - Small Business Incubator Program. › 43.176.020 - Definitions.

RCW 43.176.020
Definitions.
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Business incubator" means a facility that offers:
(a) Space for start-up and expanding firms;
(b) The shared use of equipment and work areas;
(c) Daily management support services essential to high quality commercial operations; and
(d) Technical assistance.
(2) "Qualified small business incubator" means an incubator that is:
(a)(i) Designated as a nonprofit organization under section 501(c)(3) of the internal revenue code, or (ii) consists of a partnership between a designated nonprofit organization under section 501(c)(3) of the internal revenue code and a government or quasi-government agency;
(b) Focused on developing small businesses in an economically distressed or disadvantaged area; and
(c) Structured around a sound business plan.
[ 2004 c 237 § 2.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.176 - Small Business Incubator Program. › 43.176.030 - Small business incubator program—Grants.

RCW 43.176.030
Small business incubator program—Grants.
(1) The small business incubator program is created in the department of commerce to provide start-up and operating assistance to qualified small business incubators.
(2) The department shall award grants to qualified small business incubator organizations for:
(a) Construction and equipment costs, up to a maximum of three million dollars per recipient; and
(b) Provision of technical assistance to small businesses, up to a maximum of one hundred twenty-five thousand dollars per year per recipient.
(3) The department shall:
(a) Require a grant recipient to show that it has the resources to complete the project in a timely manner and the state grant is not the sole source of funds;
(b) Develop, in conjunction with the Washington association of small business incubators, criteria for receipt of grant funds, including criteria related to organizational capacity, community need, and the availability of other economic development resources;
(c) Accept and receive grants, gifts, and pledges of funds for the support of the small business incubator program, which shall be deposited in the small business incubator account established in *RCW 43.176.040; and
(d) Integrate the promotion of small business incubators as economic development tools in its strategic plan.
[ 2023 c 470 § 2066; 2004 c 237 § 3.]
NOTES:
*Reviser's note: RCW 43.176.040 was repealed by 2012 c 198 § 26.
Explanatory statement—2023 c 470: See note following RCW 10.99.030.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.176 - Small Business Incubator Program. › 43.176.900 - Short title—2004 c 237.

RCW 43.176.900
Short title—2004 c 237.
This act may be known as the Washington small business incubator and entrepreneurship assistance act of 2004.
[ 2004 c 237 § 5.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.176 - Small Business Incubator Program. › 43.176.901 - Services dependent on legislative funding.

RCW 43.176.901
Services dependent on legislative funding.
The department of commerce shall have no duty to provide services related to the small business incubator and entrepreneurship assistance act of 2004 unless and until the small business incubator program and related administrative expenses are funded by the legislature.
[ 2023 c 470 § 2067; 2004 c 237 § 6.]
NOTES:
Explanatory statement—2023 c 470: See note following RCW 10.99.030.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.010 - Declaration of public policies—Purpose.

RCW 43.180.010
Declaration of public policies—Purpose.
It is declared to be the public policy of the state and a recognized governmental function to assist in making affordable and decent housing available throughout the state and by so doing to contribute to the general welfare. Decent housing for the people of our state is a most important public concern. Interest rates and construction costs have made it impossible for many Washington citizens to purchase their own homes. Older people, disabled persons, and low and moderate-income families often cannot afford to rent decent housing. There exists throughout the state a serious shortage of safe, sanitary and energy efficient housing available at prices within the financial means of our citizens. General economic development within the state is also impeded by a lack of affordable housing. The state's economy, which is dependent on the timber, wood products, and construction industries, has been damaged by inadequate investment in housing construction and rehabilitation. The result has been high unemployment and economic hardship affecting the prosperity of all the people of the state, particularly those in the wood products industry.
It is the purpose of this chapter to establish a state housing finance commission to act as a financial conduit which, without using public funds or lending the credit of the state or local government, can issue nonrecourse revenue bonds and participate in federal, state, and local housing programs and thereby make additional funds available at affordable rates to help provide housing throughout the state. It is also a primary purpose of this chapter to encourage the use of Washington state forest products in residential construction. This chapter is enacted to accomplish these and related purposes and shall be liberally construed to carry out its purposes and objectives.
[ 1983 c 161 § 1.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.030 - Bonds not debt of state.

RCW 43.180.030
Bonds not debt of state.
Bonds issued under this chapter shall be issued in the name of the commission. The bonds shall not be obligations of the state of Washington and shall be obligations only of the commission payable from the special fund or funds created by the commission for their payment. Such funds shall not be or constitute public moneys or funds of the state of Washington but at all times shall be kept segregated and set apart from other funds.
Bonds issued under this chapter shall contain a recital on their face to the effect that payment of the principal of, interest on, and prepayment premium, if any, on the bonds, shall be a valid claim only as against the special fund or funds relating thereto, that neither the faith and credit nor the taxing power of the state or any municipal corporation, subdivision, or agency of the state, other than the commission as set forth in this chapter, is pledged to the payment of the principal of, interest on, and prepayment premium, if any, on the bonds.
Contracts entered into by the commission shall be entered into in the name of the commission and not in the name of the state of Washington. The obligations of the commission under the contracts shall be obligations only of the commission and are not in any way obligations of the state of Washington.
[ 1983 c 161 § 3.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.050 - Housing financing powers—Annual audit.

RCW 43.180.050
Housing financing powers—Annual audit.
(1) In addition to other powers and duties prescribed in this chapter, and in furtherance of the purposes of this chapter to provide decent, safe, sanitary, and affordable housing for eligible persons, the commission is empowered to:
(a) Issue bonds in accordance with this chapter;
(b) Invest in, purchase, or make commitments to purchase or take assignments from mortgage lenders of mortgages or mortgage loans;
(c) Make loans to or deposits with mortgage lenders for the purpose of making mortgage loans;
(d) Make loans for down payment assistance to homebuyers in conjunction with other commission programs; and
(e) Participate fully in federal and other governmental programs and to take such actions as are necessary and consistent with this chapter to secure to itself and the people of the state the benefits of those programs and to meet their requirements, including such actions as the commission considers appropriate in order to have the interest payments on its bonds and other obligations treated as tax exempt under the code.
(2) The commission shall establish eligibility standards for eligible persons, considering at least the following factors:
(a) Income;
(b) Family size;
(c) Cost, condition, and energy efficiency of available residential housing;
(d) Availability of decent, safe, and sanitary housing;
(e) Age or infirmity; and
(f) Applicable federal, state, and local requirements.
The state auditor shall audit the books, records, and affairs of the commission annually to determine, among other things, if the use of bond proceeds complies with the general plan of housing finance objectives including compliance with the objective for the use of financing assistance for implementation of cost-effective energy efficiency measures in dwellings.
[ 2013 c 13 § 1; 1986 c 264 § 1; 1983 c 161 § 5.]
NOTES:
Effective date—2013 c 13: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [April 17, 2013]." [ 2013 c 13 § 2.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.060 - No power of eminent domain or taxation.

RCW 43.180.060
No power of eminent domain or taxation.
The commission does not have the power of eminent domain and the commission does not have the power to levy any taxes of any kind.
[ 1983 c 161 § 6.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.070 - Housing finance plan.

RCW 43.180.070
Housing finance plan.
The commission shall adopt a general plan of housing finance objectives to be implemented by the commission during the period of the plan. The commission may exercise the powers authorized under this chapter prior to the adoption of the initial plan. In developing the plan, the commission shall consider and set objectives for:
(1) The use of funds for single-family and multifamily housing;
(2) The use of funds for new construction, rehabilitation, including refinancing of existing debt, and home purchases;
(3) The housing needs of low-income and moderate-income persons and families, and of elderly or persons with disabilities;
(4) The use of funds in coordination with federal, state, and local housing programs for low-income persons;
(5) The use of funds in urban, rural, suburban, and special areas of the state;
(6) The use of financing assistance to stabilize and upgrade declining urban neighborhoods;
(7) The use of financing assistance for economically depressed areas, areas of minority concentration, reservations, and in mortgage-deficient areas;
(8) The geographical distribution of bond proceeds so that the benefits of the housing programs provided under this chapter will be available to address demand on a fair basis throughout the state;
(9) The use of financing assistance for implementation of cost-effective energy efficiency measures in dwellings.
The plan shall include an estimate of the amount of bonds the commission will issue during the term of the plan and how bond proceeds will be expended.
The plan shall be adopted by resolution of the commission following at least one public hearing thereon, notice of which shall be made by mailing to the clerk of the governing body of each county and by publication in the Washington State Register no more than forty and no less than twenty days prior to the hearing. A draft of the plan shall be made available not less than thirty days prior to any such public hearing. At least every two years, the commission shall report to the legislature regarding implementation of the plan.
The commission may periodically update the plan.
The commission shall adopt rules designed to result in the use of bond proceeds in a manner consistent with the plan. The commission may periodically update its rules.
This section is designed to deal only with the use of bond proceeds and nothing in this section shall be construed as a limitation on the commission's authority to issue bonds.
[ 2020 c 274 § 25. Prior: 1999 c 372 § 11; 1999 c 131 § 1; 1983 c 161 § 7.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.090 - Selection of bond counsel—Written policies to be adopted.

RCW 43.180.090
Selection of bond counsel—Written policies to be adopted.
(1) The commission shall adopt written policies to provide for the selection of bond counsel. The policies shall provide for the creation and maintenance of a roster of attorneys whom the commission believes possess the requisite special expertise and professional standing to provide bond counsel opinions which would be accepted by the underwriters, bondholders, and other members of the financial community, and which would be in furtherance of the public interest in obtaining the lowest possible interest rates on the bonds issued by the commission. Any attorney may apply to have his or her name placed on the roster, but may not be placed on the roster unless the attorney demonstrates to the commission's satisfaction that the attorney would issue the kind of opinions required by this section.
(2) Prior to selecting an attorney or attorneys to provide bond counsel services, the commission shall provide all attorneys on the roster with a notice of its intentions to select bond counsel and shall invite each of them to submit to the commission his or her fee schedule for providing bond counsel services. The commission shall have wide discretion in selecting the attorney or attorneys it considers to be most appropriate to provide the services, but in the exercise of this discretion the commission shall consider all submitted fee schedules and the public interest in achieving both savings in bond counsel fees and issuance of bonds on terms most favorable to the commission. At least once every two calendar years, the commission shall select anew an attorney or attorneys to serve as bond counsel. However, the commission may retain an attorney for longer than two years when necessary to complete work on a particular bond issue. An attorney previously retained may be selected again but only after the commission has provided other attorneys on the roster with an opportunity to be selected and has made the fee schedule review required under this subsection. In addition to or as an alternative to retaining counsel for a period of time, the commission may appoint an attorney to serve as counsel in respect to only a particular bond issue.
[ 1983 c 161 § 9.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.100 - Selection of underwriters—Written policies to be adopted.

RCW 43.180.100
Selection of underwriters—Written policies to be adopted.
(1) The commission shall adopt written policies to provide for the selection of underwriters. The policies shall provide for the creation of a roster of underwriters whom the commission believes possess the requisite special expertise and professional standing to provide bond marketing services which would be accepted by bondholders and other members of the financial community, and which would be in furtherance of the public interest in marketing the commission's bonds at the lowest possible costs. Any underwriter may apply to have its name placed on the roster, but may not be placed on the roster unless it demonstrates to the commission's satisfaction that it meets the requirements of this section.
(2) Whenever the commission decides that it needs the services of an underwriter, it shall provide all underwriters on the roster with a notice of its intentions and shall invite each of them to submit to the commission an itemization of its fees and other charges for providing underwriting services on the issue. The itemization shall be by categories designed by the commission. The commission shall have wide discretion in selecting the underwriter it considers to be most appropriate to provide the services, but in the exercise of this discretion the commission shall consider the underwriter's fees and other charges and the public interest in achieving both savings in the total costs of underwriting services and issuance of bonds on terms most favorable to the commission.
[ 1983 c 161 § 10.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.110 - Review of initial policies adopted under RCW 43.180.090 and 43.180.100—Adoption—Change.

RCW 43.180.110
Review of initial policies adopted under RCW 43.180.090 and 43.180.100—Adoption—Change.
The commission shall submit the initial policies adopted under RCW 43.180.090 and 43.180.100 to the chief clerk of the house and the secretary of the senate for transmittal to and review by the appropriate standing committees and the joint administrative rules review committee. By January 1, 1984 the commission shall have adopted policies in the form of rules and regulations under chapter 34.05 RCW. Such rules and regulations may only be changed or revised in accordance with chapter 34.05 RCW.
[ 1983 c 161 § 11.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.120 - Rules for fair allocation of bond proceeds for nonrental single-family housing.

RCW 43.180.120
Rules for fair allocation of bond proceeds for nonrental single-family housing.
The legislature recognizes that the demand for mortgage loans for nonrental single-family housing will probably greatly exceed the supply of bond proceeds available to satisfy the demand. Therefore, the commission shall adopt rules providing procedures to assure that the bond proceeds available for that kind of housing shall be made available to qualified mortgagors in a fair and equitable manner.
[ 1983 c 161 § 12.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.130 - Protection of bondholders—Mortgage insurance.

RCW 43.180.130
Protection of bondholders—Mortgage insurance.
The commission is encouraged to adopt policies which will assure that bondholders will be protected against the failure to make mortgage payments financed under this chapter. Such policies may require, among other things, mortgage insurance.
[ 1983 c 161 § 13.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.150 - Bond issues—Terms—Issuance—Purchase, etc.

RCW 43.180.150
Bond issues—Terms—Issuance—Purchase, etc.
(1) The commission's bonds shall bear such date or dates, mature at such time or times, be in such denominations, be in such form, be registered or registrable in such manner, be made transferable, exchangeable, and interchangeable, be payable in such medium of payment, at such place or places, be subject to such terms of redemption, bear such fixed or variable rate or rates of interest, be payable at such time or times, and be sold in such manner and at such price or prices, as the commission determines. The bonds shall be executed by the chair, by either its duly elected secretary or its treasurer, and by the trustee or paying agent if the commission determines to use a trustee or paying agent for the bonds. Execution of the bonds may be by manual or facsimile signature.
(2) The bonds of the commission shall be subject to such terms, conditions, covenants, and protective provisions as are found necessary or desirable by the commission, including, but not limited to, pledges of the commission's assets, setting aside of reserves, limitations on additional forms of indebtedness, and the mortgaging of all or any part of the commission's real or personal property, then owned or thereafter acquired, and other provisions the commission finds are necessary or desirable for the security of bond holders.
(3) Any security interest created in the unexpended bond proceeds and in the special funds created by the commission shall be immediately valid and binding against such moneys and any securities in which such moneys may be invested without commission or trustee possession thereof, and the security interest shall be prior to any party having any competing claim in such moneys or securities, without filing or recording pursuant to *chapter 62A.9 RCW and regardless of whether the party has notice of the security interest.
(4) When issuing bonds, the commission may provide for the future issuance of additional bonds or parity debt on a parity with outstanding bonds, and the terms and conditions of their issuance. The commission may refund or advance refund any bond of the commission in accordance with chapter 39.53 RCW or issue bonds with a subordinate lien against the fund or funds securing outstanding bonds.
(5) The chair of the state finance committee or the chair's designee shall be notified in advance of the issuance of bonds by the commission in order to promote the orderly offering of obligations in the financial markets.
(6) The members of the commission and any person executing the bonds are not liable personally on the indebtedness or subject to any personal liability or accountability by reason of the issuance thereof.
(7) The commission may, out of any fund available therefor, purchase its bonds in the open market.
[ 1983 c 161 § 15.]
NOTES:
*Reviser's note: Chapter 62A.9 RCW was repealed in its entirety by 2000 c 250 § 9A-901, effective July 1, 2001. For later enactment, see chapter 62A.9A RCW.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.170 - Bond issues—Disposition of proceeds—Special fund.

RCW 43.180.170
Bond issues—Disposition of proceeds—Special fund.
Proceeds from the sale of all bonds issued under this chapter received by the commission shall be deposited forthwith by the commission in any trust company, savings bank, savings and loan association, or bank having the powers of a trust company within or without the state, in a special fund or funds established for the particular purposes for which the bonds were issued and sold, which money shall not be funds of the state of Washington. Such fund or funds shall at all times be segregated and set apart from all other funds and held in trust for the purposes for which such bonds were issued as determined by the commission. Money other than bond sale proceeds received by the commission for these same purposes, such as private contributions or grants from the federal government, may be deposited in such fund or funds. Proceeds received from the sale of the bonds may also be used to defray the expenses of the commission in connection with and incidental to the issuance and sale of bonds, as well as expenses for studies, surveys, estimates, plans, inspections, and examinations of or incidental to the purposes for which the bonds were issued, and other costs advanced therefor by third parties or by the commission. In lieu of the commission receiving and handling these moneys in the manner outlined in this section, the commission may appoint trustees, depositaries, paying agents, and other financial institutions within or without the state to perform the functions outlined and to receive, hold, disburse, invest, and reinvest such funds on its behalf and for the protection of the bondholders.
[ 1983 c 161 § 17.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.180 - Bond issues—Disposition of revenues—Special trust fund.

RCW 43.180.180
Bond issues—Disposition of revenues—Special trust fund.
All revenues received by the commission including funds received from contributions or grants or in any other form to pay principal of and interest on bonds or for other bond requirements such as reserves shall be deposited by the commission in any trust company, savings bank, savings and loan association, or bank having the powers of a trust company within or without the state, to the credit of a special trust fund or funds. The commission may establish a bond fund or funds, and a reserve, sinking fund and other accounts therein, for payment of principal and interest and for other special requirements of the bonds as determined by the commission. In lieu of the commission receiving and handling these moneys as outlined in this section, the commission may appoint trustees, depositaries, paying agents, and other financial institutions to perform the functions outlined and to receive, hold, disburse, invest, and reinvest such funds on its behalf and for the protection of the bondholders. Such revenues and funds, whether received and held by the commission or by others on its behalf, shall not be or constitute public funds of the state of Washington but at all times shall be kept segregated and apart from all other funds.
[ 1983 c 161 § 18.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.190 - Legal investments.

RCW 43.180.190
Legal investments.
Bonds issued under this chapter are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations, investment companies, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in obligations of the state may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivisions of the state for any purpose for which the deposit of bonds and other obligations of the state are now or may hereafter be authorized by law.
[ 1983 c 161 § 19.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.220 - Housing finance program—Mortgage financing—Investments—Flexible loan underwriting guidelines.

RCW 43.180.220
Housing finance program—Mortgage financing—Investments—Flexible loan underwriting guidelines.
The commission, in cooperation with the *department of community, trade, and economic development, and the state investment board, shall develop and implement a housing finance program that:
(1) Provides subsidized or unsubsidized mortgage financing for single-family homeownership, including a single condominium unit, located in the state of Washington;
(2) Requests the state investment board to make investments, within its policies and investment guidelines, in mortgage-backed securities that are collateralized by loans made within the state of Washington; and
(3) Provides flexible loan underwriting guidelines, including but not limited to provisions that will allow reduced downpayment requirements for the purchaser.
[ 1994 c 235 § 1.]
NOTES:
*Reviser's note: The "department of community, trade, and economic development" was renamed the "department of commerce" by 2009 c 565.
Severability—1994 c 235: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1994 c 235 § 4.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.230 - Housing finance program—Program elements.

RCW 43.180.230
Housing finance program—Program elements.
The housing finance program developed under RCW 43.180.220 shall:
(1) Be limited to borrowers with incomes that do not exceed one hundred fifteen percent of the state or county median family income, whichever is higher, adjusted for family size;
(2) Be limited to first-time homebuyers as defined in RCW 43.185A.010;
(3) Be targeted so that priority is given to low-income households as defined in RCW 43.185A.010;
(4) To the extent funds are made available, provide either downpayment or closing costs assistance to households eligible for assistance under chapter 43.185A RCW and this chapter; and
(5) Provide notification to active participants of the state retirement systems managed by the department of retirement systems under chapter 41.50 RCW.
[ 1994 c 235 § 2.]
NOTES:
Severability—1994 c 235: See note following RCW 43.180.220.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.240 - Housing finance program—Report to legislature annually—Implementation.

RCW 43.180.240
Housing finance program—Report to legislature annually—Implementation.
(1) The commission shall submit to the legislature in its annual report a summary of the progress of the housing finance program developed under RCW 43.180.220. The report shall include, but not be limited to the number of loans made and location of property financed under RCW 43.180.220 and 43.180.230.
(2) The commission shall take such steps as are necessary to ensure that RCW 43.180.220 and 43.180.230 are implemented on June 9, 1994.
[ 1994 c 235 § 3.]
NOTES:
Severability—1994 c 235: See note following RCW 43.180.220.
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.245 - Condominium conversion tenant-to-homeowner program.

RCW 43.180.245
Condominium conversion tenant-to-homeowner program.
The commission shall implement a condominium conversion tenant-to-homeowner program focused on opportunities for first-time homeownership. The program must assist tenants in multifamily residential buildings that are planned to be converted to condominium ownership by providing information and resources relating to homeownership. The commission must refer such tenants to its home loan and down payment assistance programs as well as any applicable homebuyer education seminars available through local partnerships. The commission may establish income eligibility requirements for tenants and qualifying purchase price thresholds under the program that are consistent with the requirements and thresholds under existing commission programs.
[ 2022 c 165 § 2.]
NOTES:
Findings—Intent—2022 c 165: "The legislature finds that condominiums can provide an opportunity for affordable first-time homeownership, and that an increased supply of multifamily construction in Washington state and condominium demand creates market conditions for condominium conversions. The legislature also finds that the federal housing administration's condominium rule adopted in 2019 will improve financing options for first-time homebuyers in the condominium market. The legislature also recognizes that condominium conversions can create economic hardships on tenants in multifamily buildings. In addition to the change in tenancy, there are concerns about how the change of ownership will give power to condominium associations. There are different rules and different risks to be addressed. However, the legislature intends to ease these concerns and ensure that the power differential is addressed so that condominium ownership can build certainty for tenants as well as build wealth. It is the intent of the legislature to ensure that tenants of multifamily buildings planned to be converted to condominiums are provided with information and resources relating to homeownership opportunities, and to direct the affordable housing advisory board to review the subject of condominium conversions and provide a report to the legislature on issues relating to both homeownership opportunities and impacts to tenants." [ 2022 c 165 § 1.]
2023 Revised Code of Washington › Title 43 - State Government—Executive › Chapter 43.180 - Housing Finance Commission. › 43.180.250 - Veteran homeownership downpayment assistance program—Rules.

RCW 43.180.250
Veteran homeownership downpayment assistance program—Rules.
(1) By January 1, 2007, the Washington state housing finance commission shall create and implement a veteran homeownership downpayment assistance program to work in conjunction with the commission's housing finance programs. The program will assist the following individuals purchase a home:
(a) Washington state residents who are veterans, as defined by RCW 41.04.007;
(b) Members and former members of the Washington national guard and reserve; and
(c) Never remarried spouses and dependent children of deceased veterans, as defined by RCW 41.04.007.
(2) The commission shall adopt rules providing procedures to assure that the downpayment assistance program is available for qualified veterans in a fair and equitable manner.
[ 2006 c 252 § 1.]