California Proposition 1: Affordable housing bond

Proposition 1 would authorize the state to borrow up to $4 billion for affordable housing and housing subsidies for veterans. The state would borrow the money in the form of bonds, which it would.

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This guide seeks to compile credible information on California’s seventeen statewide ballot propositions to help voters make informed decisions. Home Prop. 1: Affordable Housing Bond

Assist the new construction, rehabilitation and preservation of permanent and transitional rental housing for lower income households. senate bill 3 (chapter 365, Statues 2017) authorized the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1). This measure was adopted by voters on November 6, 2018.

Proposition 1 would authorize the state to borrow up to $4 billion for affordable housing and home loans for veterans. The state would borrow the money in the form of bonds, which it would repay.

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1 would authorize $3 billion in bonds to build affordable multifamily housing, housing in urban. according to a pro-Prop. 2 report by the presidents of Mental Health America of California and the.

The total cost of the bond is expected to be $5.9 billion. Why it is on the ballot: In the fall of 2017, state lawmakers went all in on housing, passing a cluster of bills aimed at subsidizing and streamlining new development. This bond, introduced by state sen. jim Beall from San Jose, was the product of one of those bills. Full text of Prop. 1

The affordable housing bond act trust fund of 2018 is hereby created within the State Treasury. It is the intent of the Legislature that the proceeds of bonds (exclusive of refunding bonds issued pursuant to Section 54026) be deposited in the fund and used to fund the housing-related programs described in this chapter.

It’s going to take more than dollars to solve California’s housing. needs to be part of the equation. Proposition 1, put on the ballot by the state Legislature, would authorize a $4 billion bond to.

Proposition 1 would authorize the state to borrow up to $4 billion for affordable housing and housing subsidies for veterans. The state would borrow the money in the form of bonds, which it would.

Proposition 1 – SB 3 (Chapter 365, Statutes of 2017), Beall. Veterans and Affordable Housing Bond Act of 2018.

Proposition 1 would authorize $4 billion in general obligation bonds to fund veterans and affordable housing.