Robert M. Hertzberg
- Democratic
Author
Existing law, the Veterans and Affordable Housing Bond Act of 2018, which was approved by the voters as Proposition 1 at the November 6, 2018, statewide general election, authorizes the issuance of bonds in the amount of $4,000,000,000 pursuant to the State General Obligation Bond Law and requires the proceeds from the sale of these bonds to be used to finance various housing programs and a specified program for farm, home, and mobilehome purchase assistance for veterans, as provided. This bill would enact the California Family Home Construction and Homeownership Bond Act of 2022 (bond act) , which, if adopted, would authorize the issuance of bonds in the amount of $25,000,000,000 pursuant to the State General Obligation Bond Law to finance the California Family Home Construction and Homeownership Program, established as part of the bond act. The bill would authorize the California Housing Finance Agency to award California Socially Responsible Second Mortgage Loans to eligible applicants to use as a down payment or to pay closing costs on the purchase of a new home. The bill would also authorize the agency to award Family Homeownership Opportunity Infrastructure Improvement Loans to developers to be used for predevelopment infrastructure improvements and other upfront costs typically incurred in connection with new home construction, under specified conditions. The bill would require that moneys received from a loan recipient for the repayment of financing provided under the program be used to pay debt service when due on bonds issued pursuant to the bond act. The bill would also authorize the agency to issue revenue bonds for the purposes of financing the program, as specified. This bill would declare that it is to take effect immediately as an urgency statute.
June 15 set for first hearing canceled at the request of author.
Referred to Coms. on H. & C.D. and NAT. RES.
In Assembly. Read first time. Held at Desk.
Read third time. Urgency clause adopted. Passed. (Ayes 28. Noes 7. Page 3915.) Ordered to the Assembly.
From committee: Do pass. (Ayes 5. Noes 2. Page 3797.) (May 19).
Read second time. Ordered to third reading.
Set for hearing May 19.
April 25 hearing: Placed on APPR suspense file.
Set for hearing April 25.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 3378.) (April 7).
Set for hearing April 7.
Read second time and amended. Re-referred to Com. on GOV. & F.
From committee: Do pass as amended and re-refer to Com. on GOV. & F. (Ayes 6. Noes 1. Page 3219.) (March 24).
Referral to Com. on JUD. rescinded because of the limitations placed on committee hearings due to ongoing health and safety risks of the COVID-19 virus.
Re-referred to Coms. on HOUSING, GOV. & F., and JUD.
Set for hearing March 24 in HOUSING pending receipt.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
From printer.
Article IV Section 8(a) of the Constitution and Joint Rule 55 dispensed with February 7, 2022, suspending the 30 calendar day requirement.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1457 | HTML |
| 02/18/22 - Introduced | |
| 03/10/22 - Amended Senate | |
| 03/28/22 - Amended Senate | |
| 04/19/22 - Amended Senate |
| Document | Format |
|---|---|
| 03/21/22- Senate Housing | |
| 04/04/22- Senate Governance and Finance | |
| 05/02/22- Senate Appropriations | |
| 05/24/22- Sen. Floor Analyses | |
| 06/13/22- Assembly Housing and Community Development |
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