SBx8 28 ( Yee )

Digest:  (1) The Housing and Emergency Shelter Trust Fund Act of 2006, adopted and approved by the voters at the November 7, 2006, statewide general election, authorized the issuance of bonds in the amount of $2,850,000,000 pursuant to the State General ... »More

Digest:  (1) The Housing and Emergency Shelter Trust Fund Act of 2006, adopted and approved by the voters at the November 7, 2006, statewide general election, authorized the issuance of bonds in the amount of $2,850,000,000 pursuant to the State General Obligation Bond Law. Existing law requires the allocation or availability of specified bond funds to the Construction Liability Insurance Reform Pilot Program and the Innovative Homeownership Program and provides for the reversion of certain funds under specified circumstances. Existing law establishes the Housing-Related Parks Program and the Building Equity and Growth in Neighborhoods (BEGIN) Program, funded by these bonds and administered by the Department of Housing and Community Development, relating to the promotion and support of infill development, housing-related parks, and housing assistance. This bill would make several legislative findings anddeclarations relating to jobs associated with residential construction and housing bond funds. The bill would delete the required allocation or availability of funds to the Construction Liability Insurance Reform Pilot Program and the Innovative Homeownership Program and instead require that funds be allocated and made available to the California Pollution Control Financing Authority, in consultation with the department, to administer loans or grants under the California Recycle Underutilized Sites (CALReUSE) program. The bill would modify the reversion provisions and make available specified amounts for grants to existing housing trust funds and the Multifamily Housing Program . The bill would appropriate specified amounts from the Regional Planning, Housing, and Infill Incentive Account and the Building Equity and Growth in Neighborhoods Account to the Department of Housing and Community Developmentfor the Housing-Related Parks Program and the BEGIN Program, respectively. The bill would require the department to report on the explanation for the delay if appropriated funds are not awarded within 180 days from the date the act takes effect. (2) The California Constitution authorizes the Governor to declare a fiscal emergency and to call the Legislature into special session for that purpose. The Governor issued a proclamation declaring a fiscal emergency, and calling a special session for this purpose, on January 8, 2010. This bill would state that it addresses the fiscalemergency declared by the Governor by proclamation issued on January 8, 2010, pursuant to the California Constitution. »Less