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AB-913 • 2026

Housing programs: financing.

Housing programs: financing.

Housing
Passed Legislature

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

Sponsor
Celeste Rodriguez
Last action
2025-08-29
Official status
In committee: Held under submission.
Effective date
Not listed

Plain English Breakdown

The official source material does not provide specific details on conditions for waiving payments or transferring funds, leaving these aspects open to interpretation.

Housing Programs: Money for Housing Projects

This law allows the Department of Housing and Community Development to transfer extra money between rental housing projects with the same owner and waive certain payments under specific conditions.

What This Bill Does

  • Allows the department to transfer excess reserves or operating income from one rental project to another if they have the same owner.
  • Permits the department to waive payment of residual receipts or minimum annual loan payments in specified situations.

Who It Names or Affects

  • The Department of Housing and Community Development
  • Owners of rental housing developments

Terms To Know

Deferred payment loans
Loans that do not require immediate repayment but are paid back later, often with interest.
Residual receipts
Extra money left over after all expenses have been paid in a rental housing project.

Limits and Unknowns

  • The bill does not specify the exact conditions under which payments can be waived.
  • It is unclear how the department will decide when to transfer extra funds or waive payments.

Bill History

  1. 2025-08-29 California Legislative Information

    In committee: Held under submission.

  2. 2025-07-07 California Legislative Information

    In committee: Referred to APPR. suspense file.

  3. 2025-06-25 California Legislative Information

    From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (June 24). Re-referred to Com. on APPR.

  4. 2025-06-11 California Legislative Information

    Referred to Com. on HOUSING.

  5. 2025-06-03 California Legislative Information

    In Senate. Read first time. To Com. on RLS. for assignment.

  6. 2025-06-02 California Legislative Information

    Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1866.)

  7. 2025-05-27 California Legislative Information

    Read second time. Ordered to third reading.

  8. 2025-05-23 California Legislative Information

    From committee: Do pass. (Ayes 11. Noes 0.) (May 23).

  9. 2025-05-14 California Legislative Information

    In committee: Set, first hearing. Referred to APPR. suspense file.

  10. 2025-05-01 California Legislative Information

    From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 30). Re-referred to Com. on APPR.

  11. 2025-03-03 California Legislative Information

    Referred to Com. on H. & C.D.

  12. 2025-02-20 California Legislative Information

    From printer. May be heard in committee March 22.

  13. 2025-02-19 California Legislative Information

    Read first time. To print.

Official Summary Text

AB 913, as introduced, Celeste Rodriguez.
Housing programs: financing.
Existing law establishes the Department of Housing and Community Development and requires it to administer various programs intended to promote the development of housing, as specified, pursuant to which the department provides 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 sets forth various general powers of the department in implementing these programs, including authorizing the department to enter into long-term contracts or agreements of up to 30 years for the purpose of servicing loans or grants or enforcing regulatory agreements or other security documents.
This bill would authorize the department to take prescribed action, including authorizing the transfer of excess reserves or excess operating income, as defined, from one rental
housing development to another rental housing development with the same owner, as specified, and waiving payment of residual receipts or minimum annual loan payments, as provided.

Current Bill Text

Read the full stored bill text 
Download Bill PDF