Existing law establishes the California Housing Finance Agency in the Department of Housing and Community Development, and authorizes the agency to, among other things, make loans to finance affordable housing, including residential structures, housing developments, multifamily rental housing, special needs housing, and other forms of housing, as specified. Existing law establishes the California Dream for All Program to provide shared appreciation loans to qualified first-time homebuyers, as specified. Existing law establishes in the State Treasury the California Dream for All Fund, which is continuously appropriated for expenditure pursuant to the program, as specified.
This bill would require, upon establishment of an agency to determine whether an applicant qualifies as a descendant of a formerly enslaved person, at least 10% of the moneys in the fund to be reserved for applicants who meet the requirements for a loan under the program and are descendants of formerly enslaved people, as specified.

Statutes affected:
03/27/25 - Amended Assembly: 51523 HSC, 51523 HSC
04/23/25 - Amended Assembly: 51523 HSC