Plain English Breakdown
The official text confirms the bill passed but does not provide a final effective date or list the exact income thresholds for 'workforce housing'.
Workforce Housing Enhanced Infrastructure Financing Act
This law allows cities and counties in California to create special districts for building affordable housing if they adopt a plan and voters approve it by two-thirds.
What This Bill Does
- Authorizes cities or counties to establish workforce housing enhanced infrastructure financing districts after meeting certain requirements, including adopting an infrastructure financing plan.
- Sets rules that require residential housing built under this program to meet specific occupancy and affordability criteria.
- Allows the district's governing board to issue bonds only if two-thirds of voters voting on the proposition approve it.
- Requires districts using bond funds for affordable housing to keep those units at affordable costs through a recorded covenant or restriction.
Who It Names or Affects
- Cities and counties in California
- Local election officials who must administer votes related to these districts
Terms To Know
- Workforce Housing Enhanced Infrastructure Financing District
- A special area created by a city or county under this new law to raise money for affordable housing projects.
- Bonds
- Money borrowed from investors that the district must pay back, which can only be issued if voters approve it.
- Recorded Covenant or Restriction
- A legal rule written in public records to ensure housing units stay affordable over time.
Limits and Unknowns
- The law states that reimbursement for state-mandated costs will happen only if the Commission on State Mandates determines such costs exist.
- The text mentions specific occupancy and affordability criteria but does not list the exact numbers or income limits in this summary.