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Existing law establishes the Department of Housing and Community Development and requires it to administer various programs intended to promote the development of housing, as specified, pursuant to which the department provides financial assistance in the form of deferred payment loans to pay for the eligible costs of development of specified types of housing projects. Existing law sets forth various general powers of the department in implementing these programs, including authorizing the department to enter into long-term contracts or agreements of up to 30 years for the purpose of servicing loans or grants or enforcing regulatory agreements or other security documents. This bill would authorize the department to take prescribed action, including authorizing the transfer of excess reserves or excess operating income, as defined, from one rental housing development to another rental housing development with the same owner, as specified, and waiving payment of residual receipts or minimum annual loan payments, as provided.
Introduced
Feb 19, 2025
Last Action
Aug 29, 2025
Session
CA 20252026
Sponsors
1 primary · 0 co
In committee: Held under submission.
In committee: Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (June 24). Re-referred to Com. on APPR.
Referred to Com. on HOUSING.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1866.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 11. Noes 0.) (May 23).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 30). Re-referred to Com. on APPR.
Referred to Com. on H. & C.D.
From printer. May be heard in committee March 22.
Read first time. To print.
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
In committee: Held under submission.