WA HB2227

Expands the real estate excise tax exemption for affordable homeownership housing sales by removing the "self-help" (labor participation) requirement, allowing nonprofit developers to sell any ownership housing to low-income households (at or below 80% of area median income) without paying the tax

Creates a new exemption effective January 1, 2026 for sales of "qualified space" within affordable housing developments to nonprofits, housing authorities, or public corporations for community purposes such as health clinics, food banks, senior day care, or early learning facilities

Defines eligible properties as those qualifying for property tax exemptions under existing low-income housing statutes (RCW 84.36.560, 84.36.049, 35.82.210, 35.21.755, or 84.36.010)

Sets an expiration date of January 1, 2030 for the expanded exemption provisions

Directs the Joint Legislative Audit and Review Committee to track the number of taxpayers claiming the preference and the total exempt revenue amount annually