WA HB1687

Adds "social housing public development authorities" as a new category of public entity eligible to receive the same government assistance, property transfers, loans, and tax agreements currently available to traditional housing authorities

Defines "social housing" as subsidized and cross-subsidized rental housing available to households of any income level (low, moderate, and high-income) that is publicly owned in perpetuity

Establishes income thresholds based on HUD median household income: low-income at or below 80%, moderate-income between 80-120%, and high-income at 120% or above

Authorizes cities, towns, and counties to lend or donate money to social housing public development authorities and allows state public bodies to provide monetary, in-kind, or other support to their boards

Simplifies the authorization process for state public bodies to exercise housing-related powers by allowing executive approval rather than requiring governing body resolution