AB-2320 • 2026

Multifamily Housing Program: Homekey: adaptive reuse.

Budget Healthcare Housing

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Ta
Last action: 2026-04-23
Official status: From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (April 22).
Effective date: Not listed

Plain English Breakdown

The candidate explanation included details about deadlines for spending Homekey funds that were not explicitly detailed in the official summary, leading to a narrower interpretation based on available data.

Homekey Program: Adaptive Reuse

This law allows Homekey funds to be used for adaptive reuse starting in 2027 and sets deadlines for spending the money.

What This Bill Does

Allows Homekey funds to be used for turning old buildings into housing, called 'adaptive reuse,' after January 1, 2027.
Requires that construction completion, capital expenditure, and occupancy of adaptive reuse projects occur within 24 months if the project starts on or after July 1, 2026.
Specifies that all other Homekey projects must be completed within 14 to 15 months from when the money is given.

Who It Names or Affects

People who get Homekey funding for housing projects

Terms To Know

Adaptive Reuse: Turning old buildings into new homes or other useful spaces.

Limits and Unknowns

The bill does not specify how much money will be available for adaptive reuse.
It is unclear if the deadlines for spending Homekey funds will change in the future.

Bill History

2026-04-23 California Legislative Information
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (April 22).
2026-03-09 California Legislative Information
Referred to Com. on H. & C.D.
2026-02-20 California Legislative Information
From printer. May be heard in committee March 22.
2026-02-19 California Legislative Information
Read first time. To print.

Official Summary Text

AB 2320, as introduced, Ta.
Multifamily Housing Program: Homekey: adaptive reuse.
Existing law establishes the Multifamily Housing Program, administered by the Department of Housing and Community Development, to provide financial assistance in the form of deferred payment loans to pay for the eligible costs of development of specified types of housing projects. Existing law requires that specified funds appropriated to provide housing for individuals and families who are experiencing homelessness or who are at risk of homelessness and who are inherently impacted by or at increased risk for medical diseases or conditions due to the COVID-19 pandemic or other communicable diseases be disbursed in accordance with the Multifamily Housing Program for specified uses, including acquisition or rehabilitation of motels, hotels, hostels, or other sites, as provided. This disbursement program is referred to as Homekey.
This bill would
additionally allow Homekey funds awarded on or after January 1, 2027, to be used for adaptive reuse, as defined. The bill would also require that adaptive reuse projects be treated as a distinct eligible project category and not be subject to per unit cost caps.
Existing law, upon appropriation, requires Homekey awards to be expended within 8 months of the date of the award, as provided.
This bill would require, for Homekey awards made on or after July 1, 2026, that construction completion, capital expenditure, and completion of occupancy occur within 24 months of the date of the award for specified projects, and within 14 or 15 months for all other projects, as provided.

Current Bill Text

Read the full stored bill text

Download Bill PDF