Bill Text: CA AB434 | 2019-2020 | Regular Session | Amended
Bill Title: Housing financing programs: uniform procedures.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2020-09-28 - Chaptered by Secretary of State - Chapter 192, Statutes of 2020. [AB434 Detail]
Download: California-2019-AB434-Amended.html
Amended
IN
Assembly
April 08, 2019 |
Amended
IN
Assembly
March 26, 2019 |
Assembly Bill | No. 434 |
Introduced by Assembly Member Daly |
February 11, 2019 |
LEGISLATIVE COUNSEL'S DIGEST
Existing law, the Veterans and Affordable Housing Bond Act of 2018, which was approved by the voters as Proposition 1 at the November 6, 2018, statewide general election, authorizes the issuance of bonds in the amount of $4,000,000,000 pursuant to the State General Obligation Bond Law and requires the proceeds from the sale of these bonds to be used to finance various housing programs and a specified program for farm, home, and mobilehome purchase assistance for veterans, as provided.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
(a)For purposes of this section, “program bond funds” means funds made available pursuant to the Veterans and Affordable Housing Bond Act of 2018 (Part 16 (commencing with Section 54000)) and Article 5z (commencing with Section 998.600) of Chapter 6 of Division 4 of the Military and Veterans Code for those programs specified in Section 54006 and the Veterans’ Farm and Home Purchase Act of 1974 (Article 3.1 (commencing with Section 987.50) of Chapter 6 of Division 4 of the Military and Veterans Code).
(b)On or before July 1, 2020, the department, in consultation with the California Tax Credit Allocation Committee, the Strategic Growth Council, the California Debt Limit Allocation Committee, the Department of Veterans Affairs, and the agency,
shall develop a single form that may be used by applicants for program bonds funds.
(c)The form required by this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.
Notwithstanding any other law, an applicant seeking funds made available for the Joe Serna, Jr. Farmworker Housing Grant Program pursuant to subdivision (e) of Section 54006 may submit, and the department shall accept, an application for funding under the Joe Serna, Jr. Farmworker Housing Grant Program using the form developed pursuant to Section 50468.
(a)To be eligible to receive a grant or loan, local public agencies or nonprofit corporations shall demonstrate sufficient organizational stability and capacity to carry out the activity for which they are requesting funds, including, where applicable, the capacity to manage a portfolio of individual loans over an extended time period. Capacity may be demonstrated by substantial successful experience performing similar activities, or through other means acceptable to the department. In administering the CalHome program, the department may permit local agencies and nonprofit corporations to apply their own underwriting guidelines when evaluating CalHome rehabilitation loan applications, following prior review and approval of those guidelines by the department. The local agency or nonprofit corporation shall not subsequently
alter its underwriting guidelines with respect to the use of CalHome funds without review and approval by the department. In allocating funds, the department shall utilize a competitive application process, using weighted evaluation criteria, including, but not limited to, the extent that the program or project utilizes volunteer or self-help labor, trains youth and young adults in construction skills, creates balanced communities, involves community participation, or whether the program or project contributes toward community revitalization. To the extent feasible, the application process shall ensure a reasonable geographic distribution of funds.
(b)In administering department funds received pursuant to subdivision (a), local public agencies and nonprofit corporations shall not deny the funding application of, or apply different underwriting guidelines to, a housing program or project solely on the basis of either of the following:
(1)The home is a manufactured home or mobilehome, as defined in Sections 18007 and 18008.
(2)The home is located in a mobilehome park or in a manufactured housing community, as defined in Sections 18210.7 and 18214.
(c)Notwithstanding any other law, an applicant seeking funds made available for purposes of the CalHome Program pursuant to subdivision (g) of Section 54006 may submit, and the department shall accept, an application for funding under the program using the form developed pursuant to Section 50468.
SECTION 1.
Section 8869.84 of the Government Code is amended to read:8869.84.
(a) The committee shall, as soon as is practicable after the start of each calendar year, determine and announce the state ceiling for the calendar year.SEC. 2.
Section 50199.10 of the Health and Safety Code is amended to read:50199.10.
(a) For purposes of allocating low-income housing credits, the committee is hereby designated as this state’s only housing credit agency for purposes of Section 42(h) of the federal Internal Revenue Code (26 U.S.C. Sec. 42(h)). The committee shall annually determine and shall allocate the state ceiling in accordance with this chapter and in conformity with federal law. The committee shall determine the housing credit ceiling as soon as possible following the effective date of this chapter and thereafter following the commencement of each calendar year. The committee shall undertake any and all responsibilities of housing credit agencies under Section 42 of Title 26 of the United States Code, including entering into regulatory agreements relating to projects that are granted awards.SEC. 3.
Section 50468 is added to the Health and Safety Code, to read:50468.
(a) On or before July 1, 2020, the department, in consultation with the California Tax Credit Allocation Committee, the Strategic Growth Council, the California Debt Limit Allocation Committee, and any other state agency that the department deems appropriate, shall develop a single, universal application form that may be used by applicants for any of the following:SEC. 4.
Section 50675.7 of the Health and Safety Code is amended to read:50675.7.
Loans shall be provided using a project selection process established by the department that meets all of the following requirements:Notwithstanding any other law, an applicant seeking funds made available for purposes of the program pursuant to subdivision (d) of Section 54006 may submit, and the department shall accept, an application for funding under the program using the form developed pursuant to Section 50468.
(a)There is hereby established the Local Housing Trust Fund Matching Grant Program, to be administered by the department, for the purpose of supporting local housing trust funds dedicated to the creation or preservation of affordable housing as described in this section. Local housing trust funds shall be derived on an ongoing basis from private contributions or governmental sources that are not otherwise restricted in use for housing programs.
(b)Notwithstanding any other law, an applicant seeking funds made available for purposes of the program pursuant to subdivision (f) of Section 54006 may submit, and the department shall accept, an application for funding under the program using the form developed pursuant to Section 50468.
SEC. 7.SEC. 5.
Section 53545.13 of the Health and Safety Code is amended to read:53545.13.
(a) The Infill Incentive Grant Program of 2007 is hereby established to be administered by the department.Notwithstanding any other law, a developer seeking funds made available for purposes of this part pursuant to subdivision (b) of Section 54006 may submit, and the department shall accept, an application for funding under this part using the form developed pursuant to Section 50468.
Notwithstanding any other law, an applicant seeking a loan with funds made available for purposes of this article pursuant to Section 908.603 may submit, and the department shall accept, an application using the form developed by the Department of Housing and Community Development pursuant to Section 50468 of the Health and Safety Code.