California 2023-2024 Regular Session Status: Passed Senate Bipartisan · 1 D · 1 R cosponsors

SB 1032 — Housing finance: portfolio restructuring: loan forgiveness.

Last action — August 15 hearing: Held in committee and under submission.

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

This bill died with 2023-2024 Regular Session. It reached “Passed Senate” 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Existing law establishes various rental housing finance programs administered by the Department of Housing and Community Development. Existing law authorizes the department to monitor and fund various multifamily housing loans. With respect to these programs and loans, existing law authorizes the department 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 and multifamily housing loans administered, monitored, or funded by the department, subject to specified requirements. This bill would additionally authorize the department to forgive the full amount of the principal, interest, fees, and other outstanding balances of the above-described loans if the borrower makes specified showings. The bill would require that projects receiving loan forgiveness meet specified requirements, including that the projects maintain the same number of affordable units at the same affordable housing cost as provided in the project's regulatory agreement, except as specified. The bill would authorize borrowers to appeal a loan forgiveness decision to the Secretary of Business, Consumer Services, and Housing for reconsideration. This bill would make findings and declarations related to a gift of public funds.

Bill Text

Action History

  1. August 15 hearing: Held in committee and under submission.

  2. August 7 set for first hearing. Placed on suspense file.

  3. From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 1.) (June 26). Re-referred to Com. on APPR.

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

  5. In Assembly. Read first time. Held at Desk.

  6. Read third time. Passed. (Ayes 31. Noes 7. Page 4090.) Ordered to the Assembly.

  7. Read second time. Ordered to third reading.

  8. Read second time and amended. Ordered to second reading.

  9. From committee: Do pass as amended. (Ayes 5. Noes 2. Page 3968.) (May 16).

  10. Set for hearing May 16.

  11. April 8 hearing: Placed on APPR suspense file.

  12. Set for hearing April 8.

  13. Read second time and amended. Re-referred to Com. on APPR.

  14. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 0. Page 3349.) (March 19).

  15. Set for hearing March 19.

  16. Referred to Com. on HOUSING.

  17. From printer. May be acted upon on or after March 8.

  18. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on · 7 voted No

Sponsors (1)

Co-sponsors (1)

Not signed on (120)

120 members have not signed on to this bill.

Show all 120 →

"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 and be re-referred to the Committee on [Appropriations]

Passed 7 Yea · 1 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 7000
Republican 0101
Total 7101
% of votes cast 78%11%0%11%
How each member voted (9)
Member Party Vote
Grayson, Timothy S. Democratic Yea
Kalra, Ash Democratic Yea
Lee, Alex Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Ward, Christopher M. Democratic Yea
Wilson, Lori D. Democratic Yea
Patterson, Joe Republican Not Voting
Sanchez, Kate Republican Nay

Official roll call →

3rd Reading SB1032 Padilla et al.

Passed 31 Yea · 7 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 9101
Democratic 20101
Republican 2500
Total 31702
% of votes cast 78%18%0%5%
How each member voted (40)
Member Party Vote
Dodd — Yea
Bradford — Yea
Skinner — Yea
Wilk — Nay
Roth — Not Voting
Atkins — Yea
Portantino — Yea
Newman — Yea
Min — Yea
Eggman — Yea
Glazer — Yea
Allen, Benjamin Democratic Not Voting
Archuleta, Bob Democratic Yea
Ashby, Angelique V. Democratic Yea
Becker, Josh Democratic Yea
Blakespear, Catherine S. Democratic Yea
Caballero, Anna M. Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Yea
Hurtado, Melissa Democratic Yea
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
Menjivar, Caroline Democratic Yea
Nguyen, Stephanie Democratic Nay
Padilla, Stephen C. Democratic Yea
Rubio, Susan Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Wiener, Scott D. Democratic Yea
Alvarado-Gil, Marie Republican Yea
Dahle, Megan Republican Nay
Grove, Shannon Republican Nay
Jones, Brian W. Republican Nay
Niello, Roger W. Republican Nay
Ochoa Bogh, Rosilicie Republican Yea
Seyarto, Kelly Republican Nay

Official roll call →

Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]

Passed 8 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democratic 7000
Unaffiliated 1000
Republican 0002
Total 8002
% of votes cast 80%0%0%20%
How each member voted (10)
Member Party Vote
Skinner — Yea
Blakespear, Catherine S. Democratic Yea
Caballero, Anna M. Democratic Yea
Cortese, Dave Democratic Yea
Menjivar, Caroline Democratic Yea
Padilla, Stephen C. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Ochoa Bogh, Rosilicie Republican Not Voting
Seyarto, Kelly Republican Not Voting

Official roll call →

Subjects

housing
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Frequently asked questions

What does SB 1032 do?
Existing law establishes various rental housing finance programs administered by the Department of Housing and Community Development. Existing law authorizes the department to monitor and fund various multifamily housing loans. With respect to these programs and loans, existing law authorizes the department 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 and multifamily housing loans administered, monitored, or funded by the department, subject to specified requirements. This bill would additionally authorize the department to forgive the full amount of the principal, interest, fees, and other outstanding balances of the above-described loans if the borrower makes specified showings. The bill would require that projects receiving loan forgiveness meet specified requirements, including that the projects maintain the same number of affordable units at the same affordable housing cost as provided in the project's regulatory agreement, except as specified. The bill would authorize borrowers to appeal a loan forgiveness decision to the Secretary of Business, Consumer Services, and Housing for reconsideration. This bill would make findings and declarations related to a gift of public funds.
Who sponsors SB 1032?
SB 1032 is sponsored by Padilla, Stephen C. (Democratic) and Alvarado-Gil, Marie (Republican).
What is the current status of SB 1032?
This bill died with 2023-2024 Regular Session. It reached “Passed Senate” 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 SB 1032?
Track SB 1032 free on One Click Politics — get push/email alerts when it moves.

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