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July 12, 2016
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…
August 23, 2016
Yesterday, 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.