Bill > AB846

This bill amends existing laws to limit rent increases for low-income housing developments that receive certain state or federal awards, such as low-income housing tax credits, after January 1, 2025. Specifically, it requires the California Tax Credit Allocation Committee to adopt regulations by June 30, 2025, limiting annual rent increases for tenants in properties that received low-income housing tax credit allocations prior to April 3, 2024. The bill also modifies the definition of "affordable rent" for certain rental housing developments that dedicate 80% of units to lower-income households. Additionally, the bill includes a provision for state reimbursement of any state-mandated local costs resulting from the legislation.

Budget and Finance, Housing and Urban Affairs, Justice

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202320240AB846