summary
Introduced
01/24/2025
01/24/2025
In Committee
05/14/2025
05/14/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
This measure, the Housing Opportunities for Everyone (HOPE) Made Equal (HOME) Act, would create an account in the General Fund into which, beginning in the 2027–28 fiscal year, and each fiscal year thereafter until September 30, 2036, a sum would be transferred from the General Fund equal to or greater than 5% of the estimated amount of General Fund revenues for that fiscal year, as specified. The measure would require the moneys in the account to be appropriated by the Legislature to the Business, Consumer Services, and Housing Agency, and would authorize that agency to expend the moneys to fund prescribed matters related to homelessness and affordable housing, including housing and services to prevent and end homelessness.This measure would require the agency to develop a 10-year investment strategy, with input from stakeholders, that demonstrates how moneys in the account will be used to produce affordable housing and end homelessness through specific performance measures and benchmarks. On or before October 1 of each year, and until October 1, 2036, the measure would require the agency to annually report to the Legislature on its progress in meeting those performance measures and benchmarks.
AI Summary
This Constitutional Amendment, known as the Housing Opportunities for Everyone (HOPE) Made Equal (HOME) Act, establishes a dedicated fund within the General Fund, the HOPE HOME Account, to address homelessness and affordable housing. Starting in the 2027-28 fiscal year and continuing until September 30, 2036, at least 5% of the state's estimated General Fund revenues will be transferred annually into this account. The Legislature will then appropriate these funds to the Business, Consumer Services, and Housing Agency, which will use them to provide housing and services to prevent and end homelessness, develop and preserve affordable rental housing for low-income households, and create affordable homeownership opportunities. The agency is mandated to create a 10-year investment strategy with clear performance goals and benchmarks, and must report annually to the Legislature on its progress in achieving these objectives. Importantly, the transfer of funds can be suspended or reduced for a single fiscal year only if the Governor declares a budget emergency and the Legislature passes a bill to that effect, with specific conditions outlined for defining such an emergency.
Committee Categories
Budget and Finance, Health and Social Services, Housing and Urban Affairs
Sponsors (4)
Last Action
In committee: Set, first hearing. Held under submission. (on 01/22/2026)
Bill Topics
Community Development and Housing Issues
- ‐ Homelessness
- ‐ Housing and Community Development for Low and Middle Income Persons
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260ACA4 | 01/24/2025 |
| BillText | https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202520260ACA4#98AMD | 05/05/2025 |
| BillText | https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202520260ACA4#99INT | 01/24/2025 |
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