SB 879, as introduced, Beall. Housing: bond act.
Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, homeownership for very low and low-income households, and downpayment assistance for first-time homebuyers. Existing law also authorizes the issuance of bonds in specified amounts pursuant to the State General Obligation Bond Law and requires that proceeds from the sale of these bonds be used to finance various existing housing programs, capital outlay related to infill development, brownfield cleanup that promotes infill development, and housing-related parks.
This bill would state the intent of the Legislature to enact legislation that would authorize the issuance of bonds and would require the proceeds from the sale of these bonds to be used to finance housing related programs that serve the homeless and extremely low income and very low income Californians.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
It is the intent of the Legislature to enact
2legislation that would authorize the issuance of bonds, and would
3require the proceeds from the sale of these bonds to be used to
P2 1finance housing related programs that serve the homeless and
2extremely low income and very low income Californians over the
3course of the next decade.
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