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 […]
Industry Insight — December 2023
This month’s edition of Industry Insight includes:
-A Note from our Executive Director Ray Pearl
-Special Note from Marina Wiant
-ICYMI
-AH News of the Month
-Federal Update from David Gasson
-Member Spotlight
Weekly Update for December 8, 2023
This week in affordable housing news…: State Update: California is facing a $68 budget deficit next year—the largest in state history—after revenues came in far lower than expected this fall, according to a new report from the state Legislative Analyst’s Office. Due to delayed tax filing dates, the state did not have a complete revenue picture […]
Weekly Update for December 1, 2023
This week in affordable housing news…: State Update: Assembly Speaker Robert Rivas announced a wave of leadership changes in the Assembly just before Thanksgiving, elevating affordable housing champions to several key positions: Cecilia Aguiar-Curry (D-Winters), author of ACA 1, was named Majority Leader, Asm. Buffy Wicks (D-Oakland), the former housing committee chair, was tapped to lead the Appropriations […]
Weekly Update for November 17, 2023
This week in affordable housing news…: ICYMI – Top news stories: Editorial: L.A.’s ‘mansion tax’ is a lifeline to ease homelessness, but it remains in limboLos Angeles TimesIf any city needs a financial lifeline to help homeless people get permanent housing and prevent people from losing their housing, it is Los Angeles—where 36% of renter households pay […]
Federal Update for November 2023 from David Gasson
What a difference a month makes. Since my last update, Speaker McCarthy advanced a standalone continuing resolution (CR) through November 17th, which led to a motion to vacate the chair, which resulted in McCarthy becoming the former Speaker. Three tumultuous weeks later the House finally elected relative newcomer Mike Johnson of Louisiana, Speaker of the […]