BILL NUMBER: AB 2447	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  MARCH 29, 2012

INTRODUCED BY   Assembly Members Skinner and John A. Pérez

                        FEBRUARY 24, 2012

   An act to  add Part 14 (commencing with Section 53565) to
Division 31 of the Health and Safety Code,   relating to bonds.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2447, as amended, 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  , to be
administered by the California Housing Finance Agency in consultation
with the Department of Housing and Community Development, to finance
affordable housing for low- to moderate-income households and to
  further advance the will of the voters, as specified
.
   Vote: majority. Appropriation: no. Fiscal committee:  no
  yes  . 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.    The heading of Part 14 (commencing with
Section 53565) is added to Division 31 of the   Health and
Safety Code   , to read:  

      PART 14.  The California Neighborhood Stabilization Partnership
Act


   53565.  This act shall be known and cited as the California
Neighborhood Stabilization Partnership Act of 2012.
   53566.  There is hereby established the California Neighborhood
Stabilization Partnership Act of 2012, to be administered by the
California Housing Finance Agency in consultation with the Department
of Housing and Community Development, to finance affordable housing
for low- to moderate-income households and to further advance the
will of the voters, who approved the Housing and Emergency Shelter
Trust Fund Act of 2006 (Part 12 (commencing with Section 53540) of
Division 31 of the Health and Safety Code), by ensuring housing bond
funds are used in the most efficient manner.  
  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.