Calif. lawmakers agree on affordable housing bond
By Guy Marzorati, KQED-TV
Gov. Jerry Brown and Democratic leaders in the Senate and Assembly have reached a deal on a $4 billion bond measure to fund affordable housing in the state.
The measure addresses one cause of California’s affordable housing crisis: a lack of state funding to construct homes for low-income residents.
Senate Bill 3, authored by state Sen. Jim Beall of San Jose, originally proposed $3 billion to fund the construction of new housing. The deal announced late Monday adds $1 billion to that total for the Cal-Vet Loan Program, an initiative to provide home loans to California veterans that expires next year.