The California Student Housing Revolving Loan Fund Act of 2022 authorizes the California School Finance Authority or the California Educational Facilities Authority, as applicable, to provide zero-interest loans to qualifying applicants of the University of California, the California State University, and the California Community Colleges for purposes of constructing affordable student housing and affordable faculty and staff housing, as provided. The act establishes the California Student Housing Revolving Loan Fund as a continuously appropriated fund in the State Treasury. Existing law appropriated $200,000,000 for the 2023–24 fiscal year, and expresses legislative intent to appropriate $300,000,000 in subsequent fiscal years, for deposit into the fund. Of the amount appropriated, or intended to be appropriated, existing law requires 75% of the funds to be available for University of California and California State University applicants and 25% of the funds to be available for community college applicants, except as specified.
This bill would authorize California State University, University of California, and community college applicants to use up to 20% of the funds they receive from the California Student Housing Revolving Loan Fund for purposes of constructing affordable student housing and affordable faculty and staff housing on property owned by the applicant in the central business districts or main commercial and cultural hubs of a city or town in the state.

Statutes affected:
AB 1470: 67329.3 EDC
02/21/25 - Introduced: 67329.3 EDC
03/24/25 - Amended Assembly: 67329.3 EDC
05/01/25 - Amended Assembly: 67329.3 EDC