Bill > SB555

This bill, the Stable Affordable Housing Act of 2023, requires the Department of Housing and Community Development to complete a California Social Housing Study by December 31, 2026. The study will analyze the opportunities, resources, obstacles, and recommendations for creating affordable and "social housing" (housing owned and managed by public agencies, local authorities, limited-equity housing cooperatives, or mission-driven nonprofits) at scale to meet the state's projected housing needs, particularly for households with extremely low, very low, low, and moderate incomes. The study will examine funding, public lands, and other resources available, as well as constraints and obstacles, tenant protections, job creation impacts, and federal policy needs. The department must include the study in its annual report to the Governor and Legislature.