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AB-726 Housing: downpayment assistance.(2019-2020)

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Date Published: 02/19/2019 09:00 PM
AB726:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill
No. 726


Introduced by Assembly Member Wicks
(Coauthor: Senator Wiener)

February 19, 2019


An act relating to housing.


LEGISLATIVE COUNSEL'S DIGEST


AB 726, as introduced, Wicks. Housing: downpayment assistance.
Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, homeownership for very low and low-income households, and downpayment assistance for first-time homebuyers.
This bill would express the intent of the Legislature to enact legislation that would create a pilot program to provide downpayment assistance to persons who are purchasing their rental residence pursuant to a rent-to-own contract.
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 create a pilot program to provide downpayment assistance to persons who are purchasing their rental residence pursuant to a rent-to-own contract.