WA SB6214

County legislative authorities may authorize a public corporation, public housing authority, or 501(c)(3) nonprofit to serve as a land bank within urban growth areas to acquire, hold, improve, and dispose of land for affordable housing development

Land banks must plan for housing with at least 33% affordable to extremely low, very low, and low-income households; no more than 33% at market rate; and the remainder affordable to moderate-income households, with 99-year affordability covenants required on all leased or sold properties

Counties must establish a 9-member land bank advisory board with expertise in real estate finance, housing development, architecture, economic development, and community advocacy, with appointments reflecting the region's racial and ethnic makeup

The Housing Finance Commission will administer a competitive grant program for land bank planning, public improvements, and land acquisition; eligible counties must levy a local affordable housing tax, remove barriers to permanent supportive housing, and have expedited permitting for affordable housing

Real and personal property owned by nonprofit land banks is exempt from property taxation, and state agencies, municipalities, and political subdivisions must give land banks priority when disposing of surplus public land