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AB-2078 Housing development.(2019-2020)

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Date Published: 03/17/2020 04:00 AM
AB2078:v98#DOCUMENT

Amended  IN  Assembly  March 16, 2020

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill
No. 2078


Introduced by Assembly Member Calderon

February 05, 2020


An act to add Section 51071 to the Health and Safety Code, relating to housing development.


LEGISLATIVE COUNSEL'S DIGEST


AB 2078, as amended, 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 require the California Housing Finance Agency to conduct a study to identify financial impediments to developing entitled properties in the state and post a report of the study on its internet website by January 1, 2022. The bill would also 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: NOYES   Local Program: NO  

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


SECTION 1.

 It is the intent of the Legislature to subsequently amend this measure 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.

SEC. 2.

 Section 51071 is added to the Health and Safety Code, to read:

51071.
 (a) The agency shall conduct a study to identify financial impediments to developing entitled properties in the state.
(b) The agency shall post a report of the study on its internet website by January 1, 2022.