AB 2140

Bill Subjects

Abstract

Existing law defines the duties of the Treasurer, which includes, but is not limited to, keeping an account of all money received and disbursed. Existing law required the Treasurer to, as soon as April 1, 2022, but no later than specified, in consultation with the California Housing Finance Agency and other specified state agencies, develop a framework for the California Dream For All Program in accordance with the goals and intent of the program, including, among other things, making home ownership more affordable by reducing the cost of home ownership by up to 45 percent for lower and moderate-income Californians, and submit a report, as specified, outlining the program framework to the Legislature. This bill would require the Treasurer, on or before December 31, 2025, and in consultation with the California Housing Finance Agency, the Department of Housing and Community Development, and other stakeholders deemed relevant by those state bodies, to develop a framework for the Building Home Ownership for All Program in accordance with the goals and elements of the program, including, among other things, expanding access to homeownership by making it affordable for lower and moderate-income Californians, and submit a report, as specified, outlining the program framework to the Legislature. The bill would also make findings and declarations related to the program.