Housing: Building Home Ownership for All Program.

This bill, upon appropriation by the Legislature, on or before January 1, 2027, would require the Treasurer, in consultation with the California Housing Finance Agency, the Department of Housing and Community Development, and other stakeholders deemed relevant by the Treasurer, to develop the Building Home Ownership for All Program in accordance with the goals of the program, including, among other things, expanding access to home ownership and maximizing wealth-building opportunities by making it affordable for lower and moderate-income Californians to buy a home, as specified, and with the elements of the program, including, among other things, certain eligibility limits for persons obtaining housing under the program and for housing eligible under the program, as specified. The bill would require, on or before January 1, 2028, and annually thereafter, the Legislative Analyst to collaborate with the California Tax Allocation Committee to review the effectiveness of the program. The bill would repeal these provisions on December 31, 2031.