BILL NUMBER: AB 1283 CHAPTERED 07/12/07 CHAPTER 62 FILED WITH SECRETARY OF STATE JULY 12, 2007 APPROVED BY GOVERNOR JULY 12, 2007 PASSED THE SENATE JUNE 28, 2007 PASSED THE ASSEMBLY MAY 21, 2007 AMENDED IN ASSEMBLY MAY 17, 2007 INTRODUCED BY Assembly Member Laird FEBRUARY 23, 2007 An act to amend Section 33334.22 of the Health and Safety Code, relating to housing. LEGISLATIVE COUNSEL'S DIGEST AB 1283, Laird. Affordable housing. Existing law, until January 1, 2008, authorizes any redevelopment agency in Santa Cruz County, the Contra Costa County Redevelopment Agency, and the Monterey County Redevelopment Agency to make assistance available from its low- and moderate-income housing fund directly to a home buyer and separately defines affordable housing cost for these purposes. Existing law imposes specified reporting requirements on those redevelopment agencies. This bill would extend the repeal date of these provisions to January 1, 2013. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 33334.22 of the Health and Safety Code is amended to read: 33334.22. (a) The Legislature finds and declares that in order to avoid serious economic hardships and accompanying blight, it is necessary to enact this section for the purpose of providing housing assistance to very low, lower, and moderate-income households. This section applies to any redevelopment agency located within Santa Cruz County, the Contra Costa County Redevelopment Agency, and the Monterey County Redevelopment Agency. (b) Notwithstanding Section 50052.5, any redevelopment agency to which this section applies may make assistance available from its low- and moderate-income housing fund directly to a home buyer for the purchase of an owner-occupied home, and for purposes of that assistance and this section, "affordable housing cost" shall not exceed the following: (1) For very low income households, the product of 40 percent times 50 percent of the area median income adjusted for family size appropriate for the unit. (2) For lower income households whose gross incomes exceed the maximum income for very low income households and do not exceed 70 percent of the area median income adjusted for family size, the product of 40 percent times 70 percent of the area median income adjusted for family size appropriate for the unit. In addition, for any lower income household that has a gross income that equals or exceeds 70 percent of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that the affordable housing cost not exceed 40 percent of the gross income of the household. (3) For moderate income households, affordable housing cost shall not exceed the product of 40 percent times 110 percent of the area median income adjusted for family size appropriate for the unit. In addition, for any moderate-income household that has a gross income that exceeds 110 percent of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable housing cost not exceed 40 percent of the gross income of the household. (c) Any agency that provides assistance pursuant to this section shall include in the annual report to the Controller, pursuant to Sections 33080 and 33080.1, all of the following information: (1) The sale prices of homes purchased with assistance from the agency's Low and Moderate Income Housing Fund for each year the program has been in operation. (2) The sale prices of homes purchased and rehabilitated with assistance from the agency's Low and Moderate Income Housing Fund for each year the program has been in operation. (3) The incomes, and percentage of income paid for housing costs, of all households that purchased, and that purchased and rehabilitated, homes with assistance from the agency's Low and Moderate Income Housing Fund for each year the program has been in operation. (d) Except as provided in subdivision (b), all provisions of Section 50052.5, including any definitions, requirements, standards, and regulations adopted to implement those provisions, shall apply to this section. (e) This section shall remain in effect only until January 1, 2013, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2013, deletes or extends that date.