Signed by Governor Gavin Newsom

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that authorizes the issuance of $11.25 billion in bonds to fund affordable housing and veteran housing in California.

Highlights:

• Authorizes the issuance of bonds in the amount of $11.25 billion, the proceeds of which would be split as follows (Sec. 2):

• $10 billion to finance programs to fund affordable rental housing and home ownership programs; and

• $1.25 billion to provide additional funding for farm, home, and mobilehome purchase assistance for veterans.

• Requires the provisions of this act to be submitted to voters as the “Veterans and Affordable Housing Bond Act of 2026” at the November 3, 2026 statewide general election for approval (Sec. 5).

• Specifies that this act takes effect upon passage (Sec. 6).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that authorizes the issuance of $11.25 billion in bonds to fund affordable housing and veteran housing in California.

Highlights:

• Authorizes the issuance of bonds in the amount of $11.25 billion, the proceeds of which would be split as follows (Sec. 2):

• $10 billion to finance programs to fund affordable rental housing and home ownership programs; and

• $1.25 billion to provide additional funding for farm, home, and mobilehome purchase assistance for veterans.

• Requires the provisions of this act to be submitted to voters as the “Veterans and Affordable Housing Bond Act of 2026” at the November 3, 2026 statewide general election for approval (Sec. 5).

• Specifies that this act takes effect upon passage (Sec. 6).

Full Bill Text