Bill > AB394

This bill would reduce the expenditure of moneys in the Building Homes and Jobs Trust Fund for affordable owner-occupied workforce housing from 20% to 10%, and would instead require 10% of all moneys in the fund to be transferred to the newly created Housing Resources Augmentation Fund. This fund would be continuously appropriated to the Department of Housing and Community Development to administer a Housing Resources Augmentation Program, which would make bonus payments to cities and counties with new units of housing. The bill would also require the Department of Housing and Community Development to create and submit a report to the Legislature on how the affordable owner-occupied workforce housing moneys are being utilized, the number of new homeowners as a result of the expenditure of those moneys, and the amount of those moneys granted, loaned, or provided to low- or moderate-income households and developers.

Housing and Urban Affairs

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202320240AB394