SB 948

  • California Senate Bill
  • 2021-2022 Regular Session
  • Introduced in Senate Feb 09, 2022
  • Passed Senate May 24, 2022
  • Passed Assembly Aug 22, 2022
  • Signed by Governor Sep 28, 2022

Housing finance programs: development reserves.

Abstract

Existing law establishes various programs and funding sources administered by the Department of Housing and Community Development to enable the development of affordable housing, including the Building Homes and Jobs Act, the Multifamily Housing Program, the Housing for a Healthy California Program, and the Veterans Housing and Homeless Prevention Act of 2014. Under existing law governing the State Community Development Block Grant Program, the department is required to distribute funds made available under the program in order to provide decent housing, a suitable living environment, and expand economic opportunities, consistent with federal requirements. Existing federal law also establishes the HOME Investment Partnership Program to, among other things, expand the supply of affordable housing. Existing law designates the department as the state agency responsible for administering the HOME Investment Partnership Act. This bill would prohibit the department from requiring a project-specific transition reserve, as defined, for any unit subject to a qualified project rental or operating subsidy. This bill would create the Pooled Transition Reserve Fund and would continuously appropriate moneys in that fund to the department for the purpose of establishing and maintaining a pooled transition reserve, as defined. This bill would prescribe the sources from which the fund may receive moneys, and would make a transfer of $5,000,000 to the Pooled Transition Reserve Fund from the Housing Rehabilitation Loan Fund. By establishing, and transferring moneys to, a continuously appropriated fund, the bill would make an appropriation. This bill would authorize the department to charge a fee to a development that receives qualified project rental or operating subsidies at the time of permanent loan closing, not to exceed the department's reasonable costs to capitalize the reserve fund and cover administrative costs, to be deposited in the fund. This bill would authorize the department to adopt guidelines to implement these provisions and would exempt the adoption, amendment, or repeal of those guidelines from the rulemaking provisions of the Administrative Procedure Act. This bill would provide that these provisions apply to units financed by any department-administered program, for which permanent loan closing has not occurred prior to January 1, 2023, as specified. Existing law, the No Place Like Home Program, as ratified and amended by Proposition 2, which was approved by the voters at the November 6, 2018, statewide general election, provides funding to provide permanent supportive housing for a specified target population, which is defined to include individuals who have a serious mental disorder and who are homeless, chronically homeless, or at risk of chronic homelessness. Existing law authorizes the Legislature to amend Proposition 2 by a 23 vote, so long as the amendment is consistent with and furthers the intent of that measure. The bill would state the findings of the Legislature that these provisions are consistent with, and further the intent of, the No Place Like Home Act.

Bill Sponsors (1)

Votes


Actions


Sep 28, 2022

California State Legislature

Approved by the Governor.

California State Legislature

Chaptered by Secretary of State. Chapter 667, Statutes of 2022.

Aug 30, 2022

California State Legislature

Enrolled and presented to the Governor at 3 p.m.

Aug 24, 2022

Senate

Assembly amendments concurred in. (Ayes 40. Noes 0. Page 5081.) Ordered to engrossing and enrolling.

Aug 22, 2022

Senate

In Senate. Concurrence in Assembly amendments pending.

Assembly

Read third time. Passed. (Ayes 77. Noes 0. Page 6018.) Ordered to the Senate.

Aug 16, 2022

Assembly

Read second time. Ordered to third reading.

Aug 15, 2022

Assembly

Read second time and amended. Ordered to second reading.

Aug 11, 2022

Assembly

From committee: Do pass as amended. (Ayes 12. Noes 0.) (August 11).

Aug 03, 2022

Assembly

August 3 set for first hearing. Placed on suspense file.

Jun 29, 2022

Assembly

From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (June 29). Re-referred to Com. on APPR.

  • Committee-Passage
  • Committee-Passage-Favorable
  • Referral-Committee
Com. on APPR.

Jun 15, 2022

Assembly

June 15 hearing postponed by committee.

May 27, 2022

Assembly

Referred to Com. on H. & C.D.

  • Referral-Committee
Com. on H. & C.D.

May 25, 2022

Assembly

In Assembly. Read first time. Held at Desk.

May 24, 2022

Senate

Read third time. Passed. (Ayes 37. Noes 0. Page 3882.) Ordered to the Assembly.

May 23, 2022

Senate

Read second time. Ordered to third reading.

May 19, 2022

Senate

Read second time and amended. Ordered to second reading.

Senate

From committee: Do pass as amended. (Ayes 7. Noes 0. Page 3776.) (May 19).

May 13, 2022

Senate

Set for hearing May 19.

Apr 18, 2022

Senate

April 18 hearing: Placed on APPR suspense file.

Apr 05, 2022

Senate

Set for hearing April 18.

Mar 24, 2022

Senate

From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 3219.) (March 24). Re-referred to Com. on APPR.

  • Committee-Passage
  • Committee-Passage-Favorable
  • Referral-Committee
Com. on APPR.

Mar 04, 2022

Senate

Set for hearing March 24.

Mar 03, 2022

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on HOUSING.

  • Amendment-Passage
  • Committee-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on HOUSING.

Feb 16, 2022

Senate

Referred to Com. on HOUSING.

  • Referral-Committee
Com. on HOUSING.

Feb 10, 2022

Senate

From printer.

Feb 09, 2022

Senate

Article IV Section 8(a) of the Constitution and Joint Rule 55 dispensed with February 7, 2022, suspending the 30 calendar day requirement.

Senate

Introduced. Read first time. To Com. on RLS. for assignment. To print.

Bill Text

Bill Text Versions Format
SB948 HTML
02/09/22 - Introduced PDF
03/03/22 - Amended Senate PDF
05/19/22 - Amended Senate PDF
08/15/22 - Amended Assembly PDF
08/26/22 - Enrolled PDF
09/28/22 - Chaptered PDF

Related Documents

Document Format
03/21/22- Senate Housing PDF
04/15/22- Senate Appropriations PDF
05/19/22- Senate Appropriations PDF
05/23/22- Sen. Floor Analyses PDF
06/27/22- Assembly Housing and Community Development PDF
08/01/22- Assembly Appropriations PDF
08/17/22- ASSEMBLY FLOOR ANALYSIS PDF
08/22/22- Sen. Floor Analyses PDF

Sources

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