Bill > AB57

This bill amends the California Dream for All Program to reserve at least 10% of its funds for descendants of formerly enslaved people, contingent upon the establishment of a Bureau for Descendants of American Slavery by a separate Senate Bill in the 2025-26 legislative session. The program, which provides shared appreciation loans to first-time homebuyers with low to moderate incomes, will now have a specific allocation for descendants of individuals who were enslaved in the United States. The bill aims to expand homeownership opportunities and help California households accumulate wealth, with the new provision intending to address historical economic disparities by providing targeted housing assistance. The funds will only be available to applicants who are certified as descendants of enslaved people by the newly established bureau, and the program will continue to focus on creating affordable pathways to homeownership while maintaining consumer protections and ensuring the program's long-term sustainability.

Budget and Finance, Housing and Urban Affairs, Justice

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB57