BILL NUMBER: AB 2447	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Members Skinner and John A. Pérez

                        FEBRUARY 24, 2012

   An act to relating to bonds.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2447, as introduced, Skinner. The California Neighborhood
Stabilization Partnership Act of 2012.
   The Housing and Emergency Shelter Trust Fund Act of 2006
authorizes the issuance of bonds to finance various housing programs,
capital outlay related to infill development, brownfield cleanup
that promotes infill development, housing-related parks, and
transit-oriented development programs.
   This bill would state the intent of the Legislature to enact
legislation that would establish the California Neighborhood
Stabilization Partnership Act of 2012.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  The Legislature finds and declares the following:
   (a) At a time when the housing challenges facing California are
extraordinary, it is incumbent upon the Legislature to evaluate and
make changes in underperforming housing bond programs.
   (b) The Legislature must act with a clear intention and
comprehensive focus to address the effects these record number of
foreclosures have on home values throughout the state, the public
health and safety of California neighborhoods, and the economic
stability of our communities.
   (c) It is the goal of the Legislature to harness the innovation of
the business community, nonprofit organizations, private investors,
and governmental entities to create investment opportunities that
will help to address the various aspects of the foreclosure crisis.
   (d) The collaboration of financial institutions and government is
key to designing a scalable program that rehabilitates foreclosed
properties and reintegrates them into the housing market as
properties for rent or repurchase.
  SEC. 2.  It is the intent of the Legislature to enact legislation
that would establish the California Neighborhood Stabilization
Partnership Act of 2012 to further advance the will of the voters who
approved the Housing and Emergency Shelter Trust Fund Act of 2006 by
ensuring housing bond funds are used in the most effective and
efficient manner.