BILL NUMBER: AB 2293	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Torres

                        FEBRUARY 18, 2010

   An act to amend Section 50675.1 of the Health and Safety Code,
relating to housing.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2293, as introduced, Torres. Multifamily Housing Program: bond
proceeds: construction loans.
   Existing law establishes the Emergency Shelter Trust Fund Act of
2006 which authorizes the issuance of bonds in the amount of
$2,850,000,000 pursuant to the State General Obligation Bond Law.
Proceeds from the sale of these bonds are used to finance, among
other programs, the Multifamily Housing Program, which is
administered by the Department of Housing and Community Development.
Existing law requires that assistance provided to a project pursuant
to the program be provided in the form of a deferred payment loan to
pay for the specified eligible costs of development.
   This bill would require that assistance provided to a project
pursuant to the bond act include, but not be limited to, short-term
loans used for construction.
   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.  Section 50675.1 of the Health and Safety Code is
amended to read:
   50675.1.  (a) This chapter shall be known and may be cited as the
Multifamily Housing Program.
   (b) Assistance provided to a project pursuant to this chapter
shall be provided in the form of a deferred payment loan to pay for
the eligible costs of development as hereafter described.
   (c) Except as provided in paragraph (3), on and after January 1,
2008, of the total assistance provided under this chapter, the
percentage that is awarded for units restricted to senior citizens,
as defined in paragraph (1) of subdivision (b) of Section 51.3 of the
Civil Code, shall be proportional to the percentage of lower income
renter households in the state that are lower income elderly renter
households, as reported by the federal Department of Housing and
Urban Development on the basis of the most recent decennial census
conducted by the United States Census Bureau.
   (1) The department shall be deemed to have met its obligation
under this subdivision if the assistance awarded is not less than 1
percent below the proportional share.
   (2) This subdivision does not require the department to provide
loans to projects that fail to meet minimum threshold requirements
under subdivision (b) of Section 50675.7.
   (3) Assistance for projects meeting the definitions in paragraphs
(2) and (3) of subdivision (e) of Section 11139.3 of the Government
Code and subdivisions (c) and (d) of Section 53260 shall be excluded
from the total assistance calculation under this subdivision.
   (4) The department shall determine the time period over which it
will measure compliance with this section, but that period shall not
be less than one year or two funding cycles, whichever period is
longer.
   (5) If, at the end of the time period determined by the
department, the total amount of funding for which sponsors have
submitted qualified applications is lower than the proportional
share, the department may award the remaining funds to units that are
not restricted to senior citizens.
   (6) The department's annual report to the Legislature submitted
under Section 50408 shall include a breakdown of funding awards
between units restricted to senior citizens and units that are not
age-restricted.
   (d) This chapter shall be administered by the department and the
department shall establish the terms upon which loans may be made
consistent with the provisions of this chapter. 
   (e) In addition to the other forms of assistance hereafter
described, assistance provided to a project pursuant to Section 53545
shall include, but not be limited to, short-term loans used for
construction.