CaliforniaThe Veterans and Affordable Housing Bond Act of 2026.
What it does
Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, home ownership for very low and low-income households, and downpayment assistance for first-time home buyers. Existing law also authorizes the issuance of bonds in specified amounts pursuant to the State General Obligation Bond Law and requires that proceeds from the sale of these bonds be used to finance various existing housing programs, capital outlay related to infill development, brownfield cleanup that promotes infill development, and housing-related parks. Existing law, the Veterans and Affordable Housing Bond Act of 2018, authorized, the issuance of bonds in the amount of $4,000,000,000 to finance various existing housing programs, as well as infill infrastructure financing and affordable housing matching grant programs, as well as financing for a specified program for farm, home, and mobilehome purchase assistance for veterans, pursuant to the State General Obligation Bond Law.
More detail
This bill would enact the Veterans and Affordable Housing Bond Act of 2026, which, if adopted, would authorize the issuance of bonds in the amount of $11,250,000,000, pursuant to the State General Obligation Bond Law. Of the proceeds from the sale of these bonds, $10,000,000,000 would be used to finance programs to fund affordable rental housing and home ownership programs, including, among others, the Multifamily Housing Program, the CalHome Program, and the Joe Serna, Jr. Farmworker Housing Grant Program, and $1,250,000,000 would be used to provide additional funding for the above-described program for farm, home, and mobilehome purchase assistance for veterans, as provided.
This bill would provide for submission of the bond act to the voters at the November 3, 2026, statewide general election, in accordance with specified law.
This bill would declare that it is to take effect immediately as an urgency statute.
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Where it stands
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 25Chaptered by Secretary of State. Chapter 16, Statutes of 2026.Latest
- Vote recorded SB 417 Limón Third Reading Urgency By Wicks. Result: pass.Lower
- Vote recorded Unfinished Business SB417 Limón et al. Urgency Clause Concurrence. Result: pass.Upper
- Jun 25Approved by the Governor Gavin Newsom.Became Law
- Jun 25Enrolled and presented to the Governor at 12:30 p.m.To Governor
- Jun 25Assembly amendments concurred in. (Ayes 29. Noes 2. Page 5002.) Ordered to engrossing and enrolling.Major
- Jun 25In Senate. Concurrence in Assembly amendments pending.
- Jun 25Read third time. Urgency clause adopted. Passed. (Ayes 61. Noes 7. Page 5852.) Ordered to the Senate.Passed Assembly
- Jun 22Ordered to third reading.Minor
- Jun 22Read third time and amended.Major
- Jun 22Coauthors revised.
- May 18Read second time. Ordered to third reading.Minor
- May 14From committee: Do pass. (Ayes 12. Noes 3.) (May 14).Minor
- Vote recorded Do pass. Result: pass.Lower
- May 14Joint Rule 62(a) suspended.
- May 13May 13 set for first hearing. Placed on suspense file.
- Apr 23From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 2.) (April 22). Re-referred to Com. on APPR.Minor
- Apr 23Coauthors revised.
- Apr 22
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 13Referred to Com. on H. & C.D.Minor
- Jan 27In Assembly. Read first time. Held at Desk.Minor
- Vote recorded 3rd Reading SB417 Cabaldon et al. Urgency Clause. Result: pass.Upper
- Jan 27Read third time. Urgency clause adopted. Passed. (Ayes 30. Noes 9. Page 3305.) Ordered to the Assembly.Passed Senate
- Jan 26Read second time. Ordered to third reading.Minor
- Jan 22Read second time and amended. Ordered to second reading.Major
- Vote recorded Do pass as amended. Result: pass.Upper
- Jan 22From committee: Do pass as amended. (Ayes 5. Noes 2. Page 3269.) (January 22).Major
- Jan 21Set for hearing January 22.
- Jan 20January 20 hearing: Placed on APPR. suspense file.
- Vote recorded Placed on suspense file. Result: pass.Upper
- Jan 9Set for hearing January 20.
- Jan 7From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 1. Page 3184.) (January 6). Re-referred to Com. on APPR.Minor
- Jan 6
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- Jan 5Referred to Com. on HOUSING.Minor
- Jan 5Set for hearing January 6 in HOUSING pending receipt.
- Jun 25Chaptered by Secretary of State. Chapter 16, Statutes of 2026.Latest
- 2025
- Feb 19From printer. May be acted upon on or after March 21.
- Feb 18Introduced. Read first time. To Com. on RLS. for assignment. To print.Introduced