BILL NUMBER: AB 984	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Members Chau and Gordon

                        FEBRUARY 22, 2013

   An act to amend Sections 50901, 50902, and 51502 of the Health and
Safety Code, relating to the California Housing Finance Agency.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 984, as introduced, Chau. The California Finance Agency.
   Existing law provides that there is the California Housing Finance
Agency in the Department of Housing and Community Development
administered by an 11-member board of directors that includes various
state officers and 6 members appointed by the Governor.
   This bill would add the Secretary of Veterans Affairs to the
board. The bill would also increase the number of members appointed
by the Governor to 7 and require that at least one member appointed
by the Governor have specific knowledge of housing finance agencies,
single-family mortgage lending, bonds and related financial
instruments, interest rate swaps, and risk management.
   Existing law, the California Homebuyer's Assistance Program,
requires the agency to administer a downpayment assistance program,
as specified.
   This bill would make a technical, nonsubstantive change to those
provisions.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


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

  SECTION 1.  Section 50901 of the Health and Safety Code, as amended
by Section 21 of Chapter 147 of the Statutes of 2012, is amended to
read:
   50901.  The agency shall be administered by a board of directors
consisting of  11   13  voting members,
including a chairperson selected by the Governor from among his or
her appointees. The Treasurer, the Secretary of Business, Consumer
Services, and Housing,  and  the Director of Housing
and Community Development,  and the Secretary of Veterans
Affairs,  or their designees, shall be members, in addition to
 six   seven  members appointed by the
Governor, one member appointed by the Speaker of the Assembly, and
one member appointed by the Senate Committee on Rules. The Director
of Finance, the Director of Planning and Research, and the executive
director of the agency shall serve as nonvoting ex officio members of
the board.
  SEC. 2.  Section 50902 of the Health and Safety Code is amended to
read:
   50902.  (a)  Appointed members of the board shall be able persons
broadly reflective of the economic, cultural, and social diversity of
the state, including ethnic minorities and women. However, it is not
intended that formulas or specific ratios be applied in order to
achieve that diversity.
   (b)  The Governor shall select four of his or her  six
  seven  appointees from among the following
categories: (1) an elected official of a city or county engaged in
the planning or implementation of a housing, housing-assistance, or
housing-rehabilitation program; (2) a person experienced in
residential real estate in the savings and loan, mortgage banking, or
commercial banking industry; (3) a person experienced as a builder
of residential housing; (4) a person experienced in organized labor
in the residential construction industry; (5) a person experienced in
the management of rental or cooperative housing occupied by lower
income households; (6) a person experienced in manufactured housing
finance and development; and (7) a person representing the public.
Not more than one person from each category may serve on the board at
any one time, except that two members may be appointed by the
Governor to represent the public.
   (c)  The Governor shall also appoint two members who are residents
of rental or cooperative housing financed by the agency or who are
persons experienced in counseling, assisting, or representing
tenants.
   (d)  At least one of the members appointed by the Governor shall
be a resident of a rural or nonmetropolitan area. 
   (e) At least one of the members appointed by the Governor shall
have specific knowledge of housing finance agencies, single-family
mortgage lending, bonds and related financial instruments, interest
rate swaps, and risk management.  
   (e) 
    (f)    The Senate  Rules 
Committee  on Rules  and the Speaker of the Assembly shall
each appoint a person representing the public.
   The term of members of the board shall be six years. Any person
appointed to fill a vacancy on the board shall serve only for the
remainder of the unexpired term. Members of the board shall, subject
to continued qualification, be eligible for reappointment. If a
member of the board ceases to meet the qualifications specified in
this section, the membership of that person on the board shall be
terminated.
  SEC. 3.  Section 51502 of the Health and Safety Code is amended to
read:
   51502.  The purpose of the California Homebuyer's Downpayment
Assistance Program is to assist first-time low- and moderate-income
homebuyers  utilizing   using  existing
mortgage financing.