SB 500
Allows a new income or corporate excise tax credit for a portion of the eligible costs of a newly constructed single-family dwelling that sells for a price that is affordable to a household with an annual income at or below 120 percent of the area median income.
| Status | In Senate Committee (SFR) |
| Sponsors | David Brock Smith (Republican) (Chief) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
Bill Text
Establishes a new tax credit for building and selling affordable single-family homes to households earning up to 120 percent of area median income.
Sponsors#
Chief Sponsors: David Brock Smith
Overview#
Digest: The Act makes a new tax credit for building affordable houses. (Flesch Readability Score: 64.9). Allows a new income or corporate excise tax credit for a portion of the eligible costs of a newly constructed single-family dwelling that sells for a price that is affordable to a household with an annual income at or below 120 percent of the area median income. Takes effect on the 91st day following adjournment sine die.
Public Testimony
| Name | Organization | Position | Date |
|---|---|---|---|
| David Wall | Newberg | Oppose | 2025-02-06 |
| Zach Lindahl | Multifamily NW | Support | 2025-05-13 |
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-13 | S | Introduction and first reading. Referred to President's desk. |
| 2025-01-17 | S | Referred to Finance and Revenue. |
| 2025-02-05 | S | Public Hearing held. |
| 2025-05-12 | S | Public Hearing held. |
| 2025-06-27 | S | In committee upon adjournment. |