WA SB6201

Establishes property tax exemptions for rental housing owned or operated by social housing agencies (public development authorities or quasi-public entities created to finance affordable housing) when at least 50% of units serve households at or below 80% of area median income

Creates a real estate excise tax exemption for property transfers to social housing agencies that will be used for low-income housing, requiring a 15-year covenant restricting the property to low-income housing use

Defines "social housing agency" as distinct from existing housing authorities and public corporations, targeting public development authorities specifically established for affordable housing purposes

Requires qualifying rental housing to be financed through federal/state housing programs, affordable housing levies, document recording surcharges, or city/county affordable housing funds

Includes phased effective dates with some provisions expiring January 1, 2030, and replacement provisions taking effect January 1, 2030, and additional provisions effective January 1, 2033