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California advances $10B bond for housing, wildfire, and rental aid, aiming for June vote.
California Democrats are advancing Senate Bill 417, a $10 billion bond measure to fund affordable housing, wildfire prevention, rental assistance, and first-time homebuyer support, aiming for a June primary ballot placement.
The proposal, approved 8-1 by the Senate Housing Committee, allocates $7 billion to multifamily housing, $2 billion for low-income renters and farmworkers, and $1 billion for down payment aid.
A separate bond for homeless youth housing is under consideration for merger.
While Governor Newsom supports fast-tracking construction, a rent control bill failed in the Assembly, reflecting ongoing tensions between expanding housing supply and protecting tenants.
California adelanta $ 10 mil millones de bonos para vivienda, incendios forestales y ayuda de alquiler, apuntando a la votación de junio.