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Edit  DeleteExpires Jun 6, 2015

On January 25th, state Assembly Speaker Toni Atkins announced a housing-bill package designed to stabilize the lives of young people, families, and Californians struggling to get by on threadbare budgets. 

 AB 35 (Chiu and Atkins)One of the biggest challenges faced by affordable developers is the lack of funding available to build apartments and homes that remain affordable. Introduced by long-time housing champion and freshman Assemblymember from San Francisco, David Chiu, AB 35 would expand the state's Low-Income Housing Tax Credit by $300 million annually. Expansion of the state tax credit will have two positive effects: Developers will not only have access to more funding for building developments where the rents remain affordable, but they will also be able to leverage additional federal funds (a total of $600 million annually). Developers acquire and sell the tax credits, which provides revenue that they cobble together with other funding sources to build developments where rents are kept affordable. Because of their effectiveness, the current state credit is oversubscribed, so expansion will go a long way toward increasing the feasibility of affordable development.

 What's Next? Passed  Assembly Housing and Community Development Committee on April 15th, going to Revenue and Taxation Committee


 AB 90 (Chau)While we continue work to fund California's state housing trust fund, at the national level, funding of the National Housing Trust Fund is now underway. Assemblymember Ed Chau's AB 90 creates a framework for how California will spend funds received from the National Housing Trust Fund, which (with the recent lift of the suspension that prevented funding of the trust fund) are expected to begin flowing to California in 2016. 

What's Next? Passed by the Assembly Housing and Community Development Committee on April 15th.


AB 1335 (Atkins)

Another piece of the housing-affordability package, Assembly Speaker Toni Atikns's AB 1335 is the Building Homes and Jobs Act of 2015. Until now, California's housing trust fund has been funded by periodic, voter-approved housing bonds that eventually run dry. Similar to last year's SB 391, AB 1335 would create an ongoing, predictable source of funding (one of up to a dozen or more that affordable developers must cobble together for each development) to fund the state housing trust fund. For every $500 million generated 29,000 well-paying jobs would be created. The source for all this economic activity would be a $75 document recording fee on real-estate transactions (would NOT affect documents recorded for commerical and residential home sales). The fee would be capped at $225.

Action: Please send your letter by April 22nd to ensure your support is on record before this bill is voted on by the Assembly Housing and Community Devlopment Committee (this bill is expected to be voted on at the April 29th hearing). 


AB 1056 (Atkins)

For those exiting California's correctional facilities, homelessness is a huge contributor to recidivism and for people who suffer from mental-health or substance-use issues, can present an insurmountable barrier to stabilizing one's life. Speaker Atkins's AB 1056, which targets 33 percent of the budget savings under Proposition 47 for use in a rapid rehousing program aimed at helping house formerly incarcerated people who suffer from mental-health or substance-use issues.

Action:  Please send your letter by April 22nd to ensure your support is on record before this bill is voted on by the Assembly Housing and Community Development Committee (this bill is expected to be voted on at the April 29th hearing).

 *Adapted from Californians for Homes and Jobs:  http://www.housingca.org

Nancy Abbey2015-07-01T23:13:45Z
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