CALIFORNIA LEGISLATURE 20212022 REGULAR SESSION Senate Bill No. 1457Introduced by Senator HertzbergFebruary 18, 2022 An act relating to housing. LEGISLATIVE COUNSEL'S DIGESTSB 1457, as introduced, Hertzberg. Housing: housing and community development.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 homebuyers.This bill would state the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022. The purposes of this act are as follows:(a) To expand home ownership opportunities for first-time home buyers, renters, workers, and low- and moderate-income Californians to purchase newly constructed family residences by establishing the California Family Home Construction Fund and the California Home Ownership Fund.(b) To address the states housing shortage and historic inequities in home ownership, remove systemic barriers to home ownership, and create equity-building opportunities for Californians who have been left behind by targeting a portion of funds to expand home ownership in underserved and economically disadvantaged communities.(c) To stimulate construction of new sustainable housing and deliver the long-term economic benefits of new home ownership and construction throughout California without imposing additional costs on taxpayers.(d) To fund a portfolio of downpayment mortgage assistance loans made to qualified low- and moderate-income homebuyers, primarily consisting of California Socially Responsible Second Mortgages, and expanding home ownership in underserved, rural, and economically disadvantaged communities.(e) To generate hundreds of millions of dollars in annual property tax revenue for local schools, fire districts, cities, and counties without raising taxes.
CALIFORNIA LEGISLATURE 20212022 REGULAR SESSION Senate Bill No. 1457Introduced by Senator HertzbergFebruary 18, 2022 An act relating to housing. LEGISLATIVE COUNSEL'S DIGESTSB 1457, as introduced, Hertzberg. Housing: housing and community development.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 homebuyers.This bill would state the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20212022 REGULAR SESSION
Senate Bill
No. 1457
Introduced by Senator HertzbergFebruary 18, 2022
Introduced by Senator Hertzberg
February 18, 2022
An act relating to housing.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 1457, as introduced, Hertzberg. Housing: housing and community development.
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 homebuyers.This bill would state the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022.
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 homebuyers.
This bill would state the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022. The purposes of this act are as follows:(a) To expand home ownership opportunities for first-time home buyers, renters, workers, and low- and moderate-income Californians to purchase newly constructed family residences by establishing the California Family Home Construction Fund and the California Home Ownership Fund.(b) To address the states housing shortage and historic inequities in home ownership, remove systemic barriers to home ownership, and create equity-building opportunities for Californians who have been left behind by targeting a portion of funds to expand home ownership in underserved and economically disadvantaged communities.(c) To stimulate construction of new sustainable housing and deliver the long-term economic benefits of new home ownership and construction throughout California without imposing additional costs on taxpayers.(d) To fund a portfolio of downpayment mortgage assistance loans made to qualified low- and moderate-income homebuyers, primarily consisting of California Socially Responsible Second Mortgages, and expanding home ownership in underserved, rural, and economically disadvantaged communities.(e) To generate hundreds of millions of dollars in annual property tax revenue for local schools, fire districts, cities, and counties without raising taxes.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. It is the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022. The purposes of this act are as follows:(a) To expand home ownership opportunities for first-time home buyers, renters, workers, and low- and moderate-income Californians to purchase newly constructed family residences by establishing the California Family Home Construction Fund and the California Home Ownership Fund.(b) To address the states housing shortage and historic inequities in home ownership, remove systemic barriers to home ownership, and create equity-building opportunities for Californians who have been left behind by targeting a portion of funds to expand home ownership in underserved and economically disadvantaged communities.(c) To stimulate construction of new sustainable housing and deliver the long-term economic benefits of new home ownership and construction throughout California without imposing additional costs on taxpayers.(d) To fund a portfolio of downpayment mortgage assistance loans made to qualified low- and moderate-income homebuyers, primarily consisting of California Socially Responsible Second Mortgages, and expanding home ownership in underserved, rural, and economically disadvantaged communities.(e) To generate hundreds of millions of dollars in annual property tax revenue for local schools, fire districts, cities, and counties without raising taxes.
SECTION 1. It is the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022. The purposes of this act are as follows:(a) To expand home ownership opportunities for first-time home buyers, renters, workers, and low- and moderate-income Californians to purchase newly constructed family residences by establishing the California Family Home Construction Fund and the California Home Ownership Fund.(b) To address the states housing shortage and historic inequities in home ownership, remove systemic barriers to home ownership, and create equity-building opportunities for Californians who have been left behind by targeting a portion of funds to expand home ownership in underserved and economically disadvantaged communities.(c) To stimulate construction of new sustainable housing and deliver the long-term economic benefits of new home ownership and construction throughout California without imposing additional costs on taxpayers.(d) To fund a portfolio of downpayment mortgage assistance loans made to qualified low- and moderate-income homebuyers, primarily consisting of California Socially Responsible Second Mortgages, and expanding home ownership in underserved, rural, and economically disadvantaged communities.(e) To generate hundreds of millions of dollars in annual property tax revenue for local schools, fire districts, cities, and counties without raising taxes.
SECTION 1. It is the intent of the Legislature to enact legislation that would subsequently create the California Family Home Construction and Home Ownership Act of 2022. The purposes of this act are as follows:
### SECTION 1.
(a) To expand home ownership opportunities for first-time home buyers, renters, workers, and low- and moderate-income Californians to purchase newly constructed family residences by establishing the California Family Home Construction Fund and the California Home Ownership Fund.
(b) To address the states housing shortage and historic inequities in home ownership, remove systemic barriers to home ownership, and create equity-building opportunities for Californians who have been left behind by targeting a portion of funds to expand home ownership in underserved and economically disadvantaged communities.
(c) To stimulate construction of new sustainable housing and deliver the long-term economic benefits of new home ownership and construction throughout California without imposing additional costs on taxpayers.
(d) To fund a portfolio of downpayment mortgage assistance loans made to qualified low- and moderate-income homebuyers, primarily consisting of California Socially Responsible Second Mortgages, and expanding home ownership in underserved, rural, and economically disadvantaged communities.
(e) To generate hundreds of millions of dollars in annual property tax revenue for local schools, fire districts, cities, and counties without raising taxes.