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AB-244 Affordable housing cost study: housing plan addendum.(2021-2022)

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Date Published: 01/13/2021 09:00 PM
AB244:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Assembly Bill
No. 244

Introduced by Assembly Member Blanca Rubio

January 13, 2021

An act to add Sections 50199.19 and 50452.5 to the Health and Safety Code, relating to housing.


LEGISLATIVE COUNSEL'S DIGEST


AB 244, as introduced, Blanca Rubio. Affordable housing cost study: housing plan addendum.
Existing law establishes various programs and funding sources to enable the development of affordable housing, including the low-income housing credit, the Building Homes and Jobs Act, the Veterans and Affordable Housing Bond Act of 2018, the Affordable Housing and Sustainable Communities Program, and the Multifamily Housing Program. Existing law charges various agencies with the administration of these programs, including the California Tax Credit Allocation Committee, the Department of Housing and Community Development, and the California Housing Finance Agency.
This bill would require the California Tax Credit Allocation Committee, the Department of Housing and Community Development, the California Housing Finance Agency, and the California Debt Limit Allocation Committee to conduct an affordable housing cost study that measures the factors that influence the cost of building affordable housing, breaks down total development costs for affordable housing, and enables the state to maximize resources allocated for affordable housing. The bill would require the study to consider data from projects that have received funding from the various programs and funding sources described above. The bill would require the development of the cost study only as existing resources permit without restructuring funding priorities, or as private resources are made available. The bill would require the California Tax Credit Allocation Committee to publish the study by January 1, 2028.
Existing law establishes the California Statewide Housing Plan, which is required to incorporate a statement of housing goals, policies, and objectives, as well as specified segments. Existing law requires the Department of Housing and Community Development to update and provide a revision of the California State Housing Plan to the Legislature every 4 years, as specified.
This bill would also require the department to prepare and provide an annual addendum to the California Housing Plan to the Legislature by January 1, 2023, and each January 1, thereafter. The bill would require the addendum to identify specified information, including all of the financial resources the state possesses for the development of affordable housing and outcomes to measure the success of the state’s investments in housing.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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


SECTION 1.

 Section 50199.19 is added to the Health and Safety Code, to read:

50199.19.
 (a) Subject to subdivision (c), the committee, the Department of Housing and Community Development, the California Housing Finance Agency, and the California Debt Limit Allocation Committee shall develop an affordable housing cost study that measures the factors that influence the cost of building affordable housing, breaks down total development costs for affordable housing, and enables the state to maximize resources allocated for affordable housing.
(1) The study shall be based on data from projects that receive funding from the following sources:
(A) The low-income housing credit established by Section 42 of the Internal Revenue Code (26 U.S.C. Sec. 42) and implemented pursuant to this chapter.
(B) The Building Homes and Jobs Act (Chapter 2.5 (commencing with Section 50470) of Part 2).
(C) The Veterans and Affordable Housing Bond Act of 2018 (Part 16 (commencing with Section 54000)).
(D) The Affordable Housing and Sustainable Communities Program (Chapter 2 (commencing with Section 75210) of Part 1 of Division 44 of the Public Resources Code).
(E) The Multifamily Housing Program (Chapter 6.7 (commencing with Section 50675) of Part 2).
(2) The cost study shall consider data collected from the sources listed in paragraph (1) beginning in the year 2014 through the year 2026.
(3) The cost study shall also measure the factors that influence the cost of building market rate housing to compare with the factors that influence the cost of building affordable housing.
(b) The committee shall publish the study by January 1, 2028.
(c) The cost study pursuant to this section shall be conducted only if funds are available without restructuring funding priorities. It is the intent of the Legislature that the study be conducted as existing resources permit, or as private resources are made available.

SEC. 2.

 Section 50452.5 is added to the Health and Safety Code, to read:

50452.5.
 (a) The department shall prepare and provide an annual addendum to the California Statewide Housing Plan to the Legislature by January 1, 2023, and each January 1, thereafter.
(b)  The addendum shall include, but not be limited to, identifying all of the following:
(1)  All of the financial resources the state possesses for the development of affordable housing.
(2)  The number of affordable units that state financial resources are expected to help build.
(3)  The amount of revenue that the state will need to obtain from other sources to fulfill its housing objectives.
(4) A determination of where the state’s resources will have the most impact.
(5)  A summary of the outcomes used to measure the success of the state’s investments in housing.