California 2023-2024 Regular Session Status: Passed Assembly 1 D cosponsors

AB 515 — Housing programs: financing.

Last action — In committee: Held under submission.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023-2024 Regular Session. It reached “Passed Assembly” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law establishes the Department of Housing and Community Development and requires it to administer various programs intended to promote the development of housing and to provide housing assistance and home loans. Existing law sets forth various general powers of the department in implementing these programs, including authorizing the department to enter into long-term contracts or agreements of up to 30 years for the purpose of servicing loans or grants or enforcing regulatory agreements or other security documents. Existing law authorizes the Department of Housing and Community Development to approve an extension of a department loan, the reinstatement of a qualifying unpaid matured loan, the subordination of a department loan to new debt, or an investment of tax credit equity pursuant to specified rental housing finance programs, as specified, unless it would result in a rent increase for tenants of a development. Existing law authorizes the department to charge a monitoring fee to cover the aggregate monitoring costs in years the loan is extended and a transaction fee to cover its costs for processing restructuring transactions, and requires developer fee limitations to be consistent with specified laws and regulations, including regulations by the California Tax Credit Allocation Committee. This bill would revise and recast these provisions, including additionally authorizing the department to approve the payoff of a department loan in whole or part prior to the end of its term and the extraction of equity from a development for purposes approved by the department. The bill would prohibit the extension, reinstatement, subordination, payoff, extraction, or investment, as described above, if it would result in a rent increase for tenants of a development over and above the annual adjustment to the tenants' rents under the department's regulatory agreement. The bill would authorize the department to waive specified requirements in the regulatory agreement if the loan is paid off, including requiring occupancy and financial reports and governing the use of operating income and reserves for the development. The bill would authorize the department to charge additional fees as necessary to cover its costs for processing restructuring transactions, and would provide that the monitoring fees continue until the end of the term of the department's regulatory agreement, as specified. The bill would limit developer fees to the amount allowed by the California Tax Credit Allocation Committee or to 25% of actual rehabilitation costs, as applicable.

Bill Text

Action History

  1. In committee: Held under submission.

  2. In committee: Referred to APPR suspense file.

  3. From committee: Do pass and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (July 10). Re-referred to Com. on APPR.

  4. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on HOUSING.

  5. Referred to Com. on HOUSING.

  6. In Senate. Read first time. To Com. on RLS. for assignment.

  7. Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 1711.)

  8. Read second time. Ordered to third reading.

  9. From committee: Do pass. (Ayes 15. Noes 0.) (May 18).

  10. In committee: Set, first hearing. Referred to APPR. suspense file.

  11. Re-referred to Com. on APPR.

  12. Read second time and amended.

  13. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 19).

  14. Re-referred to Com. on H. & C.D.

  15. From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.

  16. Referred to Com. on H. & C.D.

  17. From printer. May be heard in committee March 10.

  18. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar

Passed 11 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 8000
Republican 2000
Unaffiliated 1000
Total 11000
% of votes cast 100%0%0%0%
How each member voted (11)
Member Party Vote
Skinner — Yea
Blakespear, Catherine S. Democratic Yea
Caballero, Anna M. Democratic Yea
Cortese, Dave Democratic Yea
McGuire, Mike Democratic Yea
Padilla, Stephen C. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Wiener, Scott D. Democratic Yea
Ochoa Bogh, Rosilicie Republican Yea
Seyarto, Kelly Republican Yea

Official roll call →

AB 515 Ward Assembly Third Reading

Passed 76 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Democratic 45002
Republican 11002
Unaffiliated 20000
Total 76004
% of votes cast 95%0%0%5%
How each member voted (80)
Member Party Vote
Holden — Yea
Mathis — Yea
Maienschein — Yea
Rodriguez — Yea
Villapudua — Yea
Ting — Yea
Jones-Sawyer — Yea
McCarty — Yea
Rendon — Yea
Friedman — Yea
Low — Yea
Wood — Yea
Essayli — Yea
Waldron — Yea
Santiago — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Luz Rivas — Yea
Vince Fong — Yea
Wendy Carrillo — Yea
Addis, Dawn Democratic Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Alvarez, David Democratic Yea
Arambula, Joaquin Democratic Yea
Bains, Jasmeet Democratic Yea
Bauer-Kahan, Rebecca Democratic Yea
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Cervantes, Sabrina Democratic Yea
Connolly, Damon Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Haney, Matt Democratic Yea
Hart, Gregg Democratic Yea
Irwin, Jacqui Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Lee, Alex Democratic Yea
Lowenthal, Josh Democratic Yea
McKinnor, Tina Democratic Yea
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Yea
Ortega, Liz Democratic Yea
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Not Voting
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Soria, Esmeralda Democratic Yea
Valencia, Avelino Democratic Yea
Ward, Christopher M. Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wicks, Buffy Democratic Not Voting
Wilson, Lori D. Democratic Yea
Zbur, Rick Chavez Democratic Yea
Alanis, Juan Republican Yea
Chen, Phillip Republican Not Voting
Dahle, Megan Republican Yea
Davies, Laurie Republican Yea
Dixon, Diane Republican Yea
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Hoover, Josh Republican Yea
Lackey, Tom Republican Not Voting
Patterson, Joe Republican Yea
Sanchez, Kate Republican Yea
Ta, Tri Republican Yea
Wallis, Greg Republican Yea

Official roll call →

Do pass.

Passed 15 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 9001
Republican 3000
Unaffiliated 3000
Total 15001
% of votes cast 94%0%0%6%
How each member voted (16)
Member Party Vote
Holden — Yea
Mathis — Yea
Wendy Carrillo — Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Fong, Mike Democratic Yea
Hart, Gregg Democratic Yea
Lowenthal, Josh Democratic Yea
Ortega, Liz Democratic Yea
Papan, Diane Democratic Yea
Pellerin, Gail Democratic Yea
Rivas, Robert Democratic Not Voting
Weber Pierson, M.D., Akilah Democratic Yea
Dahle, Megan Republican Yea
Dixon, Diane Republican Yea
Sanchez, Kate Republican Yea

Official roll call →

Do pass as amended and be re-referred to the Committee on [Appropriations]

Passed 7 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 5000
Republican 1001
Unaffiliated 1000
Total 7001
% of votes cast 88%0%0%13%
How each member voted (8)
Member Party Vote
Wendy Carrillo — Yea
Kalra, Ash Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ward, Christopher M. Democratic Yea
Wicks, Buffy Democratic Yea
Zbur, Rick Chavez Democratic Yea
Patterson, Joe Republican Not Voting
Sanchez, Kate Republican Yea

Official roll call →

Subjects

housing
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Frequently asked questions

What does AB 515 do?
Existing law establishes the Department of Housing and Community Development and requires it to administer various programs intended to promote the development of housing and to provide housing assistance and home loans. Existing law sets forth various general powers of the department in implementing these programs, including authorizing the department to enter into long-term contracts or agreements of up to 30 years for the purpose of servicing loans or grants or enforcing regulatory agreements or other security documents. Existing law authorizes the Department of Housing and Community Development to approve an extension of a department loan, the reinstatement of a qualifying unpaid matured loan, the subordination of a department loan to new debt, or an investment of tax credit equity pursuant to specified rental housing finance programs, as specified, unless it would result in a rent increase for tenants of a development. Existing law authorizes the department to charge a monitoring fee to cover the aggregate monitoring costs in years the loan is extended and a transaction fee to cover its costs for processing restructuring transactions, and requires developer fee limitations to be consistent with specified laws and regulations, including regulations by the California Tax Credit Allocation Committee. This bill would revise and recast these provisions, including additionally authorizing the department to approve the payoff of a department loan in whole or part prior to the end of its term and the extraction of equity from a development for purposes approved by the department. The bill would prohibit the extension, reinstatement, subordination, payoff, extraction, or investment, as described above, if it would result in a rent increase for tenants of a development over and above the annual adjustment to the tenants' rents under the department's regulatory agreement. The bill would authorize the department to waive specified requirements in the regulatory agreement if the loan is paid off, including requiring occupancy and financial reports and governing the use of operating income and reserves for the development. The bill would authorize the department to charge additional fees as necessary to cover its costs for processing restructuring transactions, and would provide that the monitoring fees continue until the end of the term of the department's regulatory agreement, as specified. The bill would limit developer fees to the amount allowed by the California Tax Credit Allocation Committee or to 25% of actual rehabilitation costs, as applicable.
Who sponsors AB 515?
AB 515 is sponsored by Ward, Christopher M. (Democratic).
What is the current status of AB 515?
This bill died with 2023-2024 Regular Session. It reached “Passed Assembly” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 515?
Track AB 515 free on One Click Politics — get push/email alerts when it moves.

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