The resolution addresses the issue of the Governor's proposed 2024-2025 Fiscal Year budget, which does not include funding for the Housing Down Payment Assistance program that was previously allocated $20 million in the 2023-2024 Fiscal Year budget. This program provides up to $20,000 in down payment assistance to eligible first-time homebuyers, particularly those with low and moderate incomes, to help them overcome barriers to homeownership.

To counter the proposed budget's exclusion of this program, the resolution proposes that $20 million be appropriated from the treasury for the fiscal year 2024-2025 to continue funding the Down Payment Assistance program. It authorizes the state controller to draw orders upon the general treasurer for the payment of this sum as needed, based on properly authenticated vouchers. The legislative council explains that the resolution's purpose is to ensure the appropriation of $20 million to maintain the support for the Down Payment Assistance program.