Governor Unveils January Budget Proposal for FY 2024 – 2025
Governor Newsom released his January budget proposal today, forecasting a $37.9 billion budget shortfall and proposing $8.5 billion in “belt tightening” measures that include cuts to key affordable housing programs—including the “enhanced” $500 million Low Income Housing Tax Creditthe state has supported every year since it was created in 2019. The Governor has proposed maintaining the existing $120 million LIHTC program. In addition to scaling back housing […]
Governors May Revise
Governor Newsom unveiled his revised May budget proposal this morning, which forecasts a budget deficit in the 2023-24 fiscal year of $32.5 billion—an increase from the $22.5 billion budget gap projected in January. In spite of the state’s uncertain fiscal situation, the Governor has committed to maintaining nearly $1.5 billion in critical affordable housing investments […]
Governor Unveils January Budget Proposal for FY 2023-2024
Governor Unveils January Budget Proposal for FY 2023-2024
AB 2011 Signed by Governor Newsom
Governor Newsom signed CHC’s sponsored bill, AB 2011 (Wicks), yesterday in a signing ceremony celebrating a nearly 40-bill housing package that also included CHC’s two other sponsored bills, AB 2006 (Berman) and AB 2334 (Wicks). AB 2011 took center stage at the event, with Assemblymember Buffy Wicks (D-Oakland), Senator Scott Wiener (D-San Francisco), and many other legislative housing champions joining CHC […]
22/23 Final Budget Package
The Legislature and the Governor reached agreement late Sunday on the Budget Act of 2022, which will be encompassed in SB 154, which passed the Legislature earlier this month, SB/AB 178 Budget Bill Jr, which amends SB 154, and SB/AB 180 Budget Bill Jr, which amends the 2021-22 budget to make current year allocations. We […]
Governor Unveils May Revision to the 2022-2023 Budget Proposal
This morning, Governor Newsom unveiled his revised May budget proposal, which projects a $97.5 billion surplus, maintains support for his January budget’s affordable housing and homelessness investments, and includes new proposals for adaptive reuse ($500 million) and rental assistance ($2.7 billion) that are outlined below. The proposal now goes before the Legislature, which must approve […]
Governor Unveils FY 22-23 January Budget
On Monday, January 10, Governor Newsom unveiled his January budget proposal, which includes investments in affordable housing production and addressing homelessness. Key new housing proposals in the Governor’s January budget include: $2 billion to house vulnerable homeless populations with complex behavioral health conditions $1 billion in one-time funds to accelerate affordable development in downtown areas, […]
Action Alert – Support AB 115!
CHC needs your help to advance our sponsored bill, AB 115 (Bloom), which passed out of the Assembly Committee on Housing & Community Development yesterday—but faces another tough test on April 28 in the Assembly Committee on Local Government. This legislation is one of the few substantive land use reform proposals moving through the Legislature […]
Weekly Update for January 15, 2021
This week in affordable housing news: State update: ICYMI – In addition to the significant new investments in affordable housing and federal stimulus funds being passed along to renters in the Governor’s budget last week, the Administration has also proposed sending $600 in direct cash support to four million low-income Californians who qualify for the […]
State Budget and Mid-Session Legislative Progress
State Budget and Mid-Session Legislative Progress The Governor and Legislature announced a final budget agreement this week, and after the Senate approved the spending plan yesterday, the Assembly will vote to approve the budget this afternoon. A summary of major affordable housing provisions included in the budget are highlighted below. The Assembly and Senate will […]