Sacramento, CA – The California Housing Consortium (CHC) applauds the Senate Appropriations Committee’s approval today of SB 2 (Atkins). The Building Homes and Jobs Act creates an ongoing funding source to create affordable housing without having a state general fund impact.

“With the harsh reminder again just this week that the five-county Southern California region alone needs nearly 1 million affordable homes, meaningful investment in affordable housing can’t come quickly enough for families with children, college students, veterans and elderly Californians,” said California Housing Consortium Executive Director Ray Pearl. “The Senate Appropriations Committee’s approval of SB 2 is crucial, and we are eager to continue working with the Legislature and Governor to increase California’s supply of affordable homes, create jobs, and spur economic growth without incurring additional debt.”

SB 2 would enable thousands of affordable rental homes to be built through a $75 fee on real estate transaction documents, capped at $225 per transaction. Sales of homes and commercial properties would be exempted.

CHC is also calling on lawmakers to approve AB 71 (Chiu) and AB 72 (Santiago). AB 71 would end a costly vacation home tax subsidy to provide affordable homes. AB 72 (Santiago) would strengthen the state’s ability to enforce laws that require local governments to achieve housing goals. All three bills are important to addressing California’s poverty-inducing housing crisis.