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Finance committee backs setting housing-homelessness transfer at no less than $9 million
Summary
Committee members voted to forward Bill 50, which replaces a percentage-based transfer of residential tier 2 tax revenue with a fixed floor of $9 million for the county’s housing and homelessness fund. Sponsors said the change provides planning stability; some members suggested language to account for low-revenue years.
The finance committee voted to forward Bill 50 to the full council with a favorable recommendation. The bill would change the county code to allocate no less than $9,000,000 from the residential tier 2 property-tax class to the housing and homelessness fund, replacing a prior requirement that the transfer equal 75% of that class’s revenue.
Councilmember Kogewata, lead sponsor, said the…
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