SB 1111

Bill Subjects

Abstract

Existing law establishes the Local Housing Trust Fund Matching Grant Program for the purpose of supporting local housing trust funds dedicated to the creation or preservation of affordable housing. The Housing and Emergency Shelter Trust Fund Act of 2002, among other things, allocates $25,000,000 from the proceeds of general obligation bonds issued and sold under that act to be used for specified grants under the program. Existing law authorizes the use of that allocation of funds for matching grants under the program available to cities and counties, or a city and county, and existing charitable nonprofit organizations that have created, funded, and operated housing trust funds prior to January 1, 2003, and to new local housing trusts created after January 1, 2003, that provide low-income housing assistance. This bill would instead authorize matching grants to cities and counties, or a city and county, and existing charitable nonprofit organizations that, as of January 1, 2019, have previously received a matching grant pursuant to the Local Housing Trust Fund Matching Grant Program and to new local housing trusts that provide low-income housing assistance and, as of that same date, have not previously received a matching grant pursuant to the program.