Summary
A new bill called Senate Bill 1091 aims to help California's affordable housing market by buying and fixing up existing buildings, and keeping low-income residents from having to move. The bill, introduced by California Democrat Anna Caballero, plans to use $500 million to support these efforts.
Key Facts
- Senate Bill 1091 focuses on affordable housing in California.
- The bill was introduced by Anna Caballero and co-authored by Christopher Cabaldon and Matt Haney.
- It aims to establish a program called the "Community Anti-Displacement and Preservation Program" (CAPP).
- The program would finance buying and fixing homes that don't have present affordability rules.
- These homes would get long-term affordability rules to help low-income people.
- A private sector group would manage these homes for five years.
- A budget of $500 million is set aside to help finance the program.
- The plan is supported by advocacy groups like Housing California.
