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AB-2078 Housing development.(2019-2020)

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Date Published: 02/05/2020 09:00 PM
AB2078:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill
No. 2078


Introduced by Assembly Member Calderon

February 05, 2020


An act relating to housing development.


LEGISLATIVE COUNSEL'S DIGEST


AB 2078, as introduced, Calderon. Housing development.
Existing law establishes the California Housing Finance Agency within the Department of Housing and Community Development and prescribes the primary purpose of the agency as meeting the housing needs of persons and families of low or moderate income.
This bill would state the intent of the Legislature to enact legislation that would authorize the California Housing Finance Agency to loan money to developers for the purpose of building housing units, conditioned on loan terms and the payment of interest at commercial market rates and full repayment of the loan.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 It is the intent of the Legislature to enact legislation that would authorize the California Housing Finance Agency to loan money to developers for the purpose of building housing units, conditioned on loan terms and the payment of interest at commercial market rates and full repayment of the loan.