Proposed Bill No. 5115, introduced by Representative Candelaria J. of the 95th District, seeks to empower the State Bond Commission to authorize the issuance of state bonds up to a total of $250 million. This bond issuance is to be spread over five years, with a provision of $50 million available each year. The purpose of these funds is to provide grants-in-aid to nonprofit organizations that assist individuals experiencing homelessness. These nonprofits would use the funds to develop affordable housing projects in partnership with local public housing authorities.

The bill's statement of purpose clearly indicates that the goal is to facilitate the funding of affordable housing projects by certain nonprofit organizations. These projects are intended to be carried out in collaboration with local public housing authorities, aiming to address the issue of homelessness through the development of affordable housing solutions. There are no specific insertions or deletions from current law indicated in the provided text.