CaliforniaMultifamily housing development: offsite housing factories: backstop financing.
What it does
The Bergeson-Peace Infrastructure and Economic Development Bank Act creates within the Governor's Office of Business and Economic Development the California Infrastructure and Economic Development Bank (bank) and requires it to administer the act, which, among other things, provides for the financing of certain economic development projects.
More detail
This bill would establish, upon appropriation by the Legislature, the Multifamily Backstop Financing Program (program), for purposes of supporting multifamily projects through the provision of state-backed credit backstops that would enable surety companies to issue payment and performance bonds to qualified offsite housing factories in the state. The bill would authorize the bank to provide credit backstops to surety companies and surety insurers that issue construction bonds according to specified parameters. The bill would require the bank to adopt rules and regulations necessary to implement the program.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 18Vetoed by Governor Gavin Newsom.Latest
- Sep 4Enrolled and presented to the Governor at 4 p.m.To Governor
- Aug 27Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 73. Noes 1. Page 6689.).Major
- Vote recorded AB 2166 Carrillo Concurrence in Senate Amendments. Result: pass.Lower
- Aug 27In Assembly. Concurrence in Senate amendments pending.
- Aug 26Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0.).Passed Senate
- Vote recorded 3rd Reading AB2166 Carrillo et al. By Cabaldon. Result: pass.Upper
- Aug 24Read second time. Ordered to third reading.Minor
- Aug 20Read third time and amended. Ordered to second reading.Major
- Aug 13Read second time. Ordered to third reading.Minor
- Vote recorded Do pass. Result: pass.Upper
- Aug 13From committee: Do pass. (Ayes 6. Noes 0.) (August 13).Minor
- Aug 3In committee: Referred to APPR. suspense file.Minor
- Vote recorded Placed on suspense file. Result: pass.Upper
- Jul 1From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (June 30). Re-referred to Com. on APPR.Minor
- Jun 30
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- Jun 22From committee: Do pass and re-refer to Com. on HOUSING. (Ayes 8. Noes 1.) (June 22). Re-referred to Com. on HOUSING.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Housing]. Result: pass.Upper
- Jun 3Referred to Coms. on B. P. & E.D. and HOUSING.Minor
- May 21In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 2166 Carrillo Assembly Third Reading. Result: pass.Lower
- May 21Read third time. Passed. Ordered to the Senate. (Ayes 70. Noes 1. Page 5223.)Passed Assembly
- May 18Read second time. Ordered to third reading.Minor
- May 14From committee: Do pass. (Ayes 13. Noes 0.) (May 14).Minor
- Vote recorded Do pass. Result: pass.Lower
- May 6In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Apr 28Re-referred to Com. on APPR.Minor
- Apr 27Read second time and amended.Major
- Apr 23From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (April 22).Major
- Apr 22
- Vote recorded Do pass as amended and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Mar 23Re-referred to Com. on H. & C.D.Minor
- Mar 19From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.Major
- Mar 19Referred to Com. on H. & C.D.Minor
- Feb 19From printer. May be heard in committee March 21.
- Feb 18Read first time. To print.Introduced