NPH-cosponsored Financing Bill Approved by State Senate

Support letters needed today! Please visit the Governor’s website and ask Governor Brown to sign AB 2031! Scroll down the list to find the bill number and title where the website prompt’s “PLEASE CHOOSE YOUR SUBJECT”. Feel free to copy and paste our support letter template into the form.

The Senate approved AB 2031 (Bonta and Atkins), legislation that would authorize local jurisdictions to issue affordable housing bonds against the revenue stream of “boomerang funds,” the “net available revenues” received by cities and counties after the dissolution of redevelopment. The bill does not redirect property taxes from any other taxing entity and has no impact to the State’s general fund. NPH and the City of Oakland are cosponsors of the legislation. AB 2031 will now head back to the Assembly for a vote of concurrence in the amendments taken in the Senate and then be sent to Governor Brown’s desk for his signature.