Bill > SB677

This bill allows the State of California to join a joint powers authority, which is an organization formed by two or more public agencies to work together, specifically to help issue tax-exempt bonds and provide required federal approvals for certain affordable residential rental projects when a local member city or county fails to act in a timely manner. Under federal tax law, multifamily housing bonds often require formal approval from the local government where the project is located; this legislation empowers the State Treasurer to step in and provide that approval on behalf of the state if the local government delays or refuses, thereby bypassing local roadblocks to affordable housing financing without altering the existing geographic boundaries or general powers of the joint powers authority. Additionally, the bill amends the Subdivision Map Act—which governs how local officials review and approve property subdivision maps for development—to restrict third-party appeals by general interested persons on qualifying urban housing development projects that meet specific environmental, safety, and infrastructure criteria, while still preserving appeal rights for project applicants, tenants, and public agencies.