Bill > AB736

This bill, the Affordable Housing Bond Act of 2026, authorizes the issuance of $10,000,000,000 in bonds to fund affordable housing programs across California, with the funds to be used in the 2026 fiscal year and potentially beyond. * **Multifamily Housing Program:** $5,000,000,000 from the sale of bonds will be deposited into the Housing Rehabilitation Loan Fund to support the Multifamily Housing Program, with at least 10% of units in each development being affordable to extremely low-income households. * **Supportive Housing:** $1,700,000,000 from the sale of bonds will be deposited into the Housing Rehabilitation Loan Fund for supportive housing under the Multifamily Housing Program, including capitalized operating subsidy reserves. * **Home Ownership Programs:** $1,000,000,000 from the sale of bonds will be appropriated to fund home ownership opportunities through the CalHome Program and a home purchase assistance program. * **Portfolio Reinvestment Program:** $800,000,000 from the sale of bonds will be appropriated to the Portfolio Reinvestment Program. * **Acquisition and Rehabilitation of Unrestricted Housing:** $500,000,000 from the sale of bonds will be appropriated to a program for acquiring and rehabilitating unrestricted housing units, attaching long-term affordability restrictions, and preventing displacement. * **Joe Serna, Jr. Farmworker Housing Grant Program:** $350,000,000 from the sale of bonds will be appropriated to the Joe Serna, Jr. Farmworker Housing Grant Program. * **Tribal Housing Program:** $250,000,000 from the sale of bonds will be appropriated to a dedicated program for tribes to finance housing and housing-related activities. * **Infill Infrastructure Grant Program:** $400,000,000 from the sale of bonds will be appropriated to the Infill Infrastructure Grant Program of 2019. The bonds will be issued and sold under the State General Obligation Bond Law and will mature no later than 35 years from their issuance date. The act will be submitted to voters at the June 2, 2026, statewide primary election and takes effect immediately as an urgency statute.