SENATE RULES COMMITTEE SR 71
Office of Senate Floor Analyses
(916) 651-4171
THIRD READING
Bill No: SR 71
Author: Arreguín (D), et al.
Introduced: 1/20/26
Vote: Majority
SUBJECT: Affordable Homeownership
SOURCE: Author
DIGEST: This resolution recognizes the vital and unique role of affordable
homeownership in strengthening California’s economic future, promoting racial
and economic equity, and building intergenerational stability for working families.
ANALYSIS: This resolution makes the following legislative findings:
1) Access to affordable homeownership for lower income families, particularly
through nonprofit-led, equity-building pathways, creates generational wealth
and stability otherwise unattainable in California’s housing market, helping to
reduce the racial wealth gap and create long-term economic mobility for
families historically excluded from ownership opportunities.
2) Affordable homeownership programs, such as those delivered by nonprofit
homebuilders in California, provide far more than a housing unit. Those
programs offer families the stability of permanent affordability, a deep stake in
their communities, and the cycle of growth that equity can provide.
3) California has underproduced housing for decades, leading the nation in
housing deficit in 2021 with a shortfall of nearly 900,000 units. The lack of
housing supply, particularly the shortage of entry-level ownership homes
affordable to lower income families, is a root cause of skyrocketing home prices
and limited opportunity for first-time buyers. Housing affordability in
California has reached crisis levels, with 18% of households able to afford the
median-priced home in 2024.
4) There are significant benefits to California when access to homeownership is
prioritized across all areas of state action, including budget allocations,
 SR 71
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regulatory reforms, permit streamlining, land use policy, and program
administration.
FISCAL EFFECT: Appropriation: No Fiscal Com.: No Local: No
SUPPORT: (Verified 1/27/26)
None received
OPPOSITION: (Verified 1/27/26)
None received
Prepared by: Aizenia Randhawa / SFA / (916) 651-4171
1/28/26 15:45:16
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