BILL NUMBER: AB 1330AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 22, 2009 INTRODUCED BY Assembly Member Salas FEBRUARY 27, 2009 An act to add Section 710 to the Military and Veterans Code, relating to veterans. LEGISLATIVE COUNSEL'S DIGEST AB 1330, as amended, Salas. Veterans: pilot project: cooperative housing. Under existing law, the Department of Veterans Affairs has specified powers and duties relating to various programs serving veterans. This bill would authorize the Department of Veterans Affairs to establish a pilot project for the purpose of operating a cooperative housing project, as provided. This bill would require the Department of Veterans Affairs to prescribe the rules, regulations, and conditions necessary to implement the pilot project. The bill would require that any cooperative housing project established pursuant to those provisions be restricted for use and occupancy by military veterans for a period of at least 55 years. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 710 is added to the Military and Veterans Code, to read: 710. (a) The Department of Veterans Affairs may establish a pilot project for the purpose of operating a cooperative housing project. (b) The Department of Veterans Affairs shall work in conjunction with the Department of Housing and Community Development to implement the pilot project. (c) The Department of Veterans Affairs may use existing home loan funds to operate the pilot project. These funds shall be used in accordance with all laws and regulations governing the use of the funds. (d) The Department of Veterans Affairs shall prescribe the rules, regulations, and conditions necessary to implement this section. (e) Any cooperative housing project established pursuant to this section shall be restricted for use and occupancy by military veterans for a period of at least 55 years.