Bill > AB590

This bill establishes the Social Housing Bond Act of 2026, which aims to address California's housing crisis by creating a $950 million bond measure to fund social housing programs. The bill would create the California Housing Authority, an independent public entity responsible for developing, owning, and maintaining publicly owned, mixed-income housing that remains affordable in perpetuity. Social housing, as defined in the bill, would be owned by a government entity, include housing units for various income levels, provide tenant protections, and prevent privatization. The authority would work to eliminate gaps in housing production and ensure that no Californian pays more than 30 percent of their income on housing by 2050. The bill proposes to establish a Social Housing Revolving Loan Fund to provide zero-interest loans for constructing housing that accommodates mixed household incomes. If approved by voters in the November 3, 2026 statewide election, the bill would allow the California Housing Authority to issue bonds, utilize funds from various sources, and develop housing based on successful international models like those in Vienna and Singapore, with the ultimate goal of creating sustainable, affordable housing across the state.

Housing and Urban Affairs

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB590