David Chiu
- Democratic
Author
(1) Existing law requires the Department of Housing and Community Development to allocate funds under the federal Community Development Block Grant Program to cities and counties. Existing law requires the department to determine and announce, in the applicable Notice of Funding Availability, the maximum amount of grant funds that may be used for economic development projects and programs, housing for persons and families of low or moderate income or for purposes directly related to the provision or improvement of housing opportunities for these persons and families, and for cities and counties that apply on behalf of certain Indian tribes. Existing law requires the department to develop and use certain eligibility criteria and requirements for certain economic development fund applications. This bill would authorize the Department of Housing and Community Development to issue a Notice of Funding Availability under which the director of the department could determine that an applicant previously awarded funds is eligible to apply for, and receive, additional funds pursuant to the Community Development Block Grant Program, without regard to whether the applicant has expended at least a certain percentage of funds previously awarded. (2) Existing law authorizes the Housing Finance Agency to issue revenue bonds for the purpose of financing the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing and for the provision of capital improvements in connection with, and determined necessary to, that multifamily rental housing. Existing law requires no less than 20%, or 15% for those multifamily rental housing developments located in a target area, as defined, of the total number of units in a multifamily rental housing development, financed or for which financing has been extended or committed from the proceeds of sale of each bond issuance of the agency, to be for occupancy on a priority basis by lower income households. Existing law further requires that not less than 12 of the units required for occupancy on a priority basis by lower income households be for occupancy on a priority basis for very low income households. This bill would authorize the agency to waive the priority requirements for very low income households upon approval of the board and a specified determination. Existing law prohibits rental payments on units required for occupancy by very low income households paid by persons occupying the units from exceeding 30% of 50% of the area median income, and sets forth occupancy assumptions for adjusting rents for household size, as specified. This bill would, commencing September 1, 2016, authorize the agency to also utilize occupancy assumptions that it has determined are appropriate and commercially reasonable for financing extended pursuant to these provisions. Existing law provides that the authorization to issue revenue bonds for these purposes constitutes an alternative method to issue bonds for making construction loans and mortgage loans for multifamily rental housing. This bill would instead provide that the authorization to issue revenue bonds for these purposes constitutes an alternative method to finance construction loans and mortgage loans for multifamily rental housing. (3) This bill would declare that it is to take effect immediately as an urgency statute.
Chaptered by Secretary of State - Chapter 552, Statutes of 2016.
Approved by the Governor.
Enrolled and presented to the Governor at 4 p.m.
Urgency clause adopted. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 80. Noes 0. Page 6424.).
From committee: That the Senate amendments be concurred in. (Ayes 7. Noes 0.) .
Re-referred to Com. on H. & C.D. pursuant to Assembly Rule 77.2.
Joint Rule 62(a), file notice suspended. (Page 6225.)
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 26 pursuant to Assembly Rule 77.
Read third time. Urgency clause adopted. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5264.).
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (August 11).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (August 9). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on T. & H.
Withdrawn from committee.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR.
In committee: Set, first hearing. Hearing canceled at the request of author.
Measure version as amended on July 16 corrected.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 2.) (July 14).
Withdrawn from committee.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on E., U., & C.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1817.)
Read second time. Ordered to Consent Calendar.
From committee: Do pass. To Consent Calendar. (Ayes 17. Noes 0.) (May 27).
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (April 29).
From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.
From printer. May be heard in committee March 28.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB723 | HTML |
| 02/25/15 - Introduced | |
| 04/16/15 - Amended Assembly | |
| 04/30/15 - Amended Assembly | |
| 06/23/15 - Amended Senate | |
| 07/16/15 - Amended Senate | |
| 08/02/16 - Amended Senate | |
| 08/04/16 - Amended Senate | |
| 08/18/16 - Amended Senate | |
| 08/31/16 - Enrolled | |
| 09/24/16 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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