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WA HB1858

Bill

Official Source

Status

Passed

4/21/2025

Primary Sponsor

Shaun Scott

Click for details

Origin

House of Representatives

2025-2026 Regular Session

AI Summary

  • Removes the exemption that previously allowed assignments or substitutions of recorded deeds of trust to avoid the $100 covenant homeownership program assessment and $183 document recording surcharge
  • Covenant homeownership assessment funds are deposited into the covenant homeownership account, with county auditors retaining up to 1% for collection costs
  • Document recording surcharge funds are distributed: 30% to counties for homeless housing plans, 54.1% to the home security fund account, 13.1% to the affordable housing for all account, and 1.8% to the landlord mitigation program account
  • Effective date is July 27, 2025

Legislative Description

Eliminating the exemption for assignments or substitutions of previously recorded deeds of trust from the document recording fee and the covenant homeownership program assessment.

Last Action

Effective date 7/27/2025.

4/21/2025

Committee Referrals

Rules4/8/2025
Ways & Means3/12/2025
Rules2/28/2025
Appropriations2/6/2025

Full Bill Text

No bill text available