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SB-1388 • 2026

Affordable Housing Risk Reduction Program.

Affordable Housing Risk Reduction Program.

Budget Housing Taxes
Passed Legislature

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

Sponsor
Durazo
Last action
2026-06-11
Official status
From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Affordable Housing Risk Reduction Program.

SB 1388, as amended, Durazo.

What This Bill Does

  • SB 1388, as amended, Durazo.
  • Local agencies: improvement and maintenance of natural habitat.
  • Affordable Housing Risk Reduction Program.
  • Existing law establishes the Department of Housing and Community Development and requires it to administer various programs intended to promote the development of housing, including the Multifamily Housing Program, pursuant to which the department provides assistance in the form of deferred payment loans to pay for the eligible costs of development of specified types of housing projects, as provided.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-06-11 California Legislative Information

    From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.

  2. 2026-05-18 California Legislative Information

    Referred to Com. on L. GOV.

  3. 2026-05-07 California Legislative Information

    In Assembly. Read first time. Held at Desk.

  4. 2026-05-07 California Legislative Information

    Read third time. Passed. (Ayes 36. Noes 0.) Ordered to the Assembly.

  5. 2026-04-30 California Legislative Information

    Read second time. Ordered to consent calendar.

  6. 2026-04-29 California Legislative Information

    From committee: Do pass. Ordered to consent calendar. (Ayes 7. Noes 0. Page 4096.) (April 29).

  7. 2026-04-09 California Legislative Information

    Set for hearing April 29.

  8. 2026-03-04 California Legislative Information

    Referred to Com. on L. GOV.

  9. 2026-02-23 California Legislative Information

    Read first time.

  10. 2026-02-23 California Legislative Information

    From printer. May be acted upon on or after March 23.

  11. 2026-02-20 California Legislative Information

    Introduced. To Com. on RLS. for assignment. To print.

Official Summary Text

SB 1388, as amended, Durazo.
Local agencies: improvement and maintenance of natural habitat.
Affordable Housing Risk Reduction Program.
Existing law establishes the Department of Housing and Community Development and requires it to administer various programs intended to promote the development of housing, including the Multifamily Housing Program, pursuant to which the department provides assistance in the form of deferred payment loans to pay for the eligible costs of development of specified types of housing projects, as provided.
This bill would establish the Affordable Housing Risk Reduction Program, administered by the department, to provide technical assistance and supportive resources to affordable housing providers to help them mitigate risk in their portfolio and secure more affordable insurance options. Upon appropriation, the bill would require the department to provide affordable
housing providers technical assistance and support and resources through loans or grants, and authorize it to contract with third-party consultants in the development and performance of these functions, as specified.
This bill would require the department, in carrying out the functions of the program, to consult with the Department of Insurance, the California Tax Credit Allocation Committee, and the California Debt Limit Allocation Committee. The bill would authorize the department to submit a letter of support for a housing development project that is applying for low-income housing tax credits, as specified. The bill would require the department to adopt emergency regulations to implement the program, as specified.
Existing law authorizes a local agency to, as specified, establish a district to provide for the improvement or maintenance of natural habitat. Existing law authorizes the local agency to perform those functions or contract with the state, another local agency, or a special district to perform those functions, as specified.
This bill would additionally authorize a local agency to contract with a joint powers authority to perform the above-described functions.

Current Bill Text

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