Washington · statute · Wash. Rev. Code ch. 43.181 · 6 active provisions
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Commission" means the Washington state housing finance commission.(2) "Covenant homeownership program study" means an evidence-based written report prepared by or on behalf of the commission as required in R…
The covenant homeownership account is created in the state treasury. All receipts from the assessment established in RCW 36.22.185 must be deposited into the account. Moneys in the account may be spent only after appropriation. Expenditures from the account may be made only for the purposes of the program described in…
(1)(a) The commission shall complete, or cause to be completed, an initial covenant homeownership program study. The initial covenant homeownership program study must:(i) Document past and ongoing discrimination against black, indigenous, and people of color and other historically marginalized communities in Washington…
(1) As part of the covenant homeownership program, the department shall contract with the commission to design, develop, implement, and evaluate one or more special purpose credit programs to reduce racial disparities in homeownership in the state by providing down payment and closing cost assistance. The contract must…
(1) The department of financial institutions shall establish the covenant homeownership program oversight committee consisting of the following members appointed by the governor, except for the legislative members who must be appointed by the president of the senate or the speaker of the house of representatives as des…
(1) The legislature finds that:(a) Generations of systemic, racist, and discriminatory policies and practices have created barriers to credit and homeownership for black, indigenous, and people of color and other historically marginalized communities in Washington state. The legislature finds that these policies and pr…