Signed by Governor Gavin Newsom

Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that extends affordable housing regulation in California.

Highlights:

• Defines “affordable housing” to include the following (Sec. 1):

• Rental housing;

• Ownership housing;

• Interim housing; and 

• Affordable housing programs such as 

• Downpayment assistance;

• First-time homebuyer programs, and 

• Owner-occupied affordable housing rehabilitation programs, that are affordable to households earning up to 150% of countywide median income.

• Establishes various requirements regarding the appointment and function of a citizens’ oversight committee, including (Sec. 1).

• Require the citizens’ oversight committee to consist of at least 7 members who serve for a minimum term of 2 years without compensation (Sec. 1).

• Prohibits an employee or official of the local government and any vendor, contractor, or consultant of the local government from being appointed to the citizens’ oversight committee (Sec. 1).

• Specifies that the purpose of a citizens’ oversight committee is to inform the public concerning the expenditure of revenues derived from ACA 1 bonded indebtedness (Sec. 1).

• Requires a citizens’ oversight committee to actively review and report on the proper expenditure of taxpayers’ money for the purposes described in ACA 1 and advise the public as to whether a local government is in compliance with the requirements of ACA 1 (Sec. 1).

• Require the committee to issue regular reports on the results of its activities and require the local government to provide the citizens’ oversight committee with any necessary technical assistance and administrative assistance in furtherance of its purpose, as specified (Sec. 1).

• Specifies that the provisions of this bill shall become effective immediately upon passage and approval by the Governor (Sec. 4).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that extends affordable housing regulations in California.

Highlights:

• Defines “affordable housing” to include the following (Sec. 1):

• Rental housing;

• Ownership housing;

• Interim housing; and 

• Affordable housing programs such as 

• Downpayment assistance;

• First-time homebuyer programs, and 

• Owner-occupied affordable housing rehabilitation programs, that are affordable to households earning up to 150% of countywide median income.

• Establishes various requirements regarding the appointment and function of a citizens’ oversight committee, including (Sec. 1).

• Require the citizens’ oversight committee to consist of at least 7 members who serve for a minimum term of 2 years without compensation (Sec. 1).

• Prohibits an employee or official of the local government and any vendor, contractor, or consultant of the local government from being appointed to the citizens’ oversight committee (Sec. 1).

• Specifies that the purpose of a citizens’ oversight committee is to inform the public concerning the expenditure of revenues derived from ACA 1 bonded indebtedness (Sec. 1).

• Requires a citizens’ oversight committee to actively review and report on the proper expenditure of taxpayers’ money for the purposes described in ACA 1 and advise the public as to whether a local government is in compliance with the requirements of ACA 1 (Sec. 1).

• Require the committee to issue regular reports on the results of its activities and require the local government to provide the citizens’ oversight committee with any necessary technical assistance and administrative assistance in furtherance of its purpose, as specified (Sec. 1).

• Specifies that the provisions of this bill shall become effective immediately upon passage and approval by the Governor (Sec. 4).

Full Bill Text