California Housing Finance Agency: credit enhancement mechanisms study.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Enacted

Summary

The bill establishes the California Housing Finance and Credit Fund and gives the California Housing Finance Agency authority to provide credit‑enhancement insurance for construction and permanent loans on affordable multifamily projects. By charging a capped premium and issuing state‑backed debentures when loans default, the program seeks to attract private capital to close the gap between housing needs and permitted units. It takes effect only if a voter‑approved constitutional amendment passes, with implementation slated for 2027.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

Read third time. Passed. (Ayes 64. Noes 6. Page 6746.) Ordered to the Senate. · Aug 27, 2026

Hearings

• Appropriations Committee Hearing
  Appropriations · Aug 13, 2026
• Appropriations Committee Hearing
  Appropriations · Aug 29, 2025
• Appropriations Committee Hearing
  Appropriations · Aug 20, 2025
• Judiciary Committee Hearing
  Judiciary · Jul 15, 2025
• Housing and Community Development Committee Hearing
  Housing and Community Development · Jul 2, 2025

History

1. Aug 29, 2025August 29 hearing postponed by committee.
2. Aug 20, 2025August 20 set for first hearing. Placed on APPR. suspense file.
3. Jul 17, 2025Read second time and amended. Re-referred to Com. on APPR.
4. Jul 16, 2025From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (July 15).
5. Jul 7, 2025Read second time and amended. Re-referred to Com. on JUD.
6. Jul 3, 2025From committee: Do pass as amended and re-refer to Com. on JUD. (Ayes 8. Noes 0.) (July 2).
7. Jun 5, 2025Referred to Coms. on H. & C.D. and JUD.
8. May 28, 2025Read third time. Passed. (Ayes 38. Noes 0. Page 1293.) Ordered to the Assembly.
9. May 28, 2025In Assembly. Read first time. Held at Desk.
10. May 27, 2025Read second time. Ordered to third reading.
11. May 23, 2025Read second time and amended. Ordered to second reading.
12. May 23, 2025From committee: Do pass as amended. (Ayes 6. Noes 0. Page 1212.) (May 23).

The 12 most recent of 24 recorded actions.

Sponsors

• Dave Cortese (D) · sponsor
• Arreguín
• Becker
• Cabaldon
• Cortese
• Haney
• Kalra
• Papan
• Quirk-Silva
• Umberg
• Wiener
• Wilson

Bill text

Opens the legislature’s own copy.

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