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May 31, 2016

State Budget and Legislative Update – May 31, 2016

The Budget Conference Committee, which begins meeting today, will take up the Assembly proposal to allocate $650 million to various housing programs in amounts still to be determined, as well as Senate President pro Tem Kevin de Leon’s “No Place Like Home” Initiative, that includes $2 billion in bonds for permanent supportive housing serviced by Prop. 63 Mental Health Services Act (MHSA) revenues. Find the Conference Committee Agenda here (Housing is Issue 5 on pages 20-25)   The constitutional deadline for adoption…
July 12, 2016

Key State Affordable Housing Bills Signed Into Law

We are pleased to report that, on July 1, Governor Brown signed into law SB 873 (Beall). This legislation increases the value of the State Low Income Housing Tax Credit by allowing credits to be “certificated” by nonprofit affordable developers. The legislation was cosponsored by State Treasurer John Chiang and the California Housing Partnership Corporation (CHPC) and supported by NPH. Find details here   Governor Brown also signed into law AB 1618, the legislative vehicle for Senate President pro Tem Kevin…