California 2017-2018 Regular Session Status: Enacted 2 D cosponsors

AB 2562 — Department of Housing and Community Development loans.

Last action — Chaptered by Secretary of State - Chapter 765, Statutes of 2018.

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

This bill has been enacted into law. Introduced February 15, 2018. Enacted.

Prognosis

Likely to advance 78% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 4 sponsors

    1 primary, 3 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

  • Cleared a recorded vote

    Passed 8 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law, the Multifamily Housing Program, is administered by the Department of Housing and Community Development to address renter housing needs through an omnibus multifamily housing program. Under the program, assistance provided to a project is required to be provided in the form of a deferred payment loan to pay for the eligible costs of development. Existing law, subject to specified terms, authorizes the department to approve an extension of an existing loan, the subordination of an existing loan to new debt, or an investment of tax credit equity if the rental housing development is being operated in a manner consistent with the regulatory agreement and the development requires an extension in order to continue to operate in that manner. Existing law also authorizes the department to reduce the interest rate on any loan issued by the department to a rental housing development to as low as 0.42% per annum, or a rate determined by the department that is sufficient to cover the costs of project monitoring, whichever is greater, if the development meets specified requirements regarding, among other things, debt and household income. Existing law also authorizes the Department of Housing and Community Development to approve an extension of a department loan, the subordination of a department loan to new debt, or an investment of tax credit equity under specified rental housing finance programs other than the Multifamily Housing Program, subject to specified conditions. This bill would include loans made under the Multifamily Housing Program and any and all other multifamily housing loans funded or monitored by the department within these latter provisions authorizing the extension of an existing loan, subordination of an existing loan to new debt, or an investment of tax credit equity. The bill would require the department to reduce the interest rate on any loan issued by the department to a rental housing development if the development will utilize low-income housing tax credits, the department makes a specified determination regarding the loan or the ability of the development to syndicate, and the rate change will materially increase the feasibility of the proposed project and ensure long-term affordability for the residents. Existing law also authorizes the department to change the current interest rate for any loan for which it receives a loan extension request, associated with an award of federal or state low income housing tax credits made on or after January 1, 2014, to the applicable federal rate most recently published by the Internal Revenue Service. This bill instead would provide that the department is authorized to change the current interest rate for any loan issued by the department for which it receives a loan extension request, associated with an award of federal or state low-income housing tax credits made on or after January 1, 2014, to the applicable federal rate published by the Internal Revenue Service and in effect at the time of the project closing. Existing law requires the department to charge a fee in an amount sufficient to cover administrative costs associated with a loan modification requested by a borrower pursuant to these provisions. This bill would instead authorize the department to charge the fee.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 765, Statutes of 2018.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 2:30 p.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 57. Noes 23. Page 6805.).

  5. In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 29 pursuant to Assembly Rule 77.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 27. Noes 12. Page 5813.).

  7. Read second time. Ordered to third reading.

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

  9. Read second time. Ordered to third reading.

  10. Read second time and amended. Ordered returned to second reading.

  11. From committee: Amend, and do pass as amended. (Ayes 5. Noes 2.) (August 16).

  12. In committee: Referred to APPR. suspense file.

  13. From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 3.) (June 26). Re-referred to Com. on APPR.

  14. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on T. & H.

  15. In committee: Hearing postponed by committee.

  16. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on T. & H.

  17. Referred to Com. on T. & H.

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

  19. Read third time. Passed. Ordered to the Senate. (Ayes 54. Noes 24. Page 5514.)

  20. Read second time. Ordered to third reading.

  21. From committee: Do pass. (Ayes 12. Noes 4.) (May 25).

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

  23. Re-referred to Com. on APPR.

  24. Read second time and amended.

  25. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 1.) (April 25).

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

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

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

  29. From printer. May be heard in committee March 18.

  30. Read first time. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 3 co-sponsors · 118 not signed on · 11 voted No

Sponsors (1)

  • Mullin

Co-sponsors (3)

Not signed on (118)

118 members have not signed on to this bill.

Show all 118 →

"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

AB 2562 MULLIN Concurrence in Senate Amendments

Passed 57 Yea · 23 Nay
Party YeaNayPresentNot Voting
Unaffiliated 411700
Democratic 16000
Republican 0600
Total 572300
% of votes cast 71%29%0%0%
How each member voted (80)
Member Party Vote
Acosta — Nay
Bigelow — Nay
Bloom — Yea
Brough — Nay
Holden — Yea
Levine — Yea
Mathis — Nay
Mullin — Yea
Quirk — Yea
Santiago — Yea
Weber — Yea
Wood — Yea
Eggman — Yea
Chávez — Yea
Cunningham — Nay
Daly — Yea
Frazier — Yea
Gloria — Yea
Burke — Yea
Friedman — Yea
Jones-Sawyer — Yea
Rivas — Yea
Rubio — Yea
Low — Yea
McCarty — Yea
Medina — Yea
Salas — Yea
Gray — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Cooper — Yea
Nazarian — Yea
O'Donnell — Yea
Rendon — Yea
Thurmond — Yea
Gonzalez Fletcher — Yea
Fong — Nay
Harper — Nay
Kamlager-Dove — Yea
Cooley — Yea
Kiley — Nay
Maienschein — Nay
Baker — Nay
Mayes — Nay
Melendez — Nay
Obernolte — Nay
Rodriguez — Yea
Steinorth — Yea
Ting — Yea
Voepel — Nay
Waldron — Nay
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Nay
Mark Stone — Yea
Travis Allen — Nay
Wendy Carrillo — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Berman, Marc Democratic Yea
Bonta, Mia Democratic Yea
Caballero, Anna M. Democratic Yea
Calderon, Lisa Democratic Yea
Cervantes, Sabrina Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Yea
Limón, Monique Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Chen, Phillip Republican Nay
Choi, Steven S. Republican Nay
Dahle, Megan Republican Nay
Flora, Heath Republican Nay
Gallagher, James Republican Nay
Lackey, Tom Republican Nay

Official roll call →

3rd Reading AB2562 Mullin et al. By Wiener

Passed 27 Yea · 12 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 231101
Democratic 4100
Total 271201
% of votes cast 68%30%0%3%
How each member voted (40)
Member Party Vote
Hill — Yea
Hueso — Yea
Lara — Yea
Moorlach — Nay
Skinner — Yea
Vidak — Nay
Wieckowski — Yea
Wilk — Nay
Delgado — Yea
Fuller — Nay
Galgiani — Yea
Glazer — Yea
Cannella — Yea
Hernandez — Yea
Hertzberg — Yea
Allen — Yea
De León — Yea
Portantino — Yea
Atkins — Yea
Mitchell — Yea
Beall — Yea
Bradford — Yea
Dodd — Yea
Leyva — Yea
Monning — Yea
Pan — Yea
Roth — Yea
Chang — Nay
Morrell — Nay
Nielsen — Nay
Anderson — Nay
Bates — Nay
Beth Gaines — Nay
Bill Berryhill — Not Voting
Mark Stone — Nay
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Nay
Stern, Henry I. Democratic Yea
Wiener, Scott D. Democratic Yea

Official roll call →

Do pass as amended

Passed 5 Yea · 2 Nay
Party YeaNayPresentNot Voting
Unaffiliated 4200
Democratic 1000
Total 5200
% of votes cast 71%29%0%0%
How each member voted (7)
Member Party Vote
Bates — Nay
Beall — Yea
Bradford — Yea
Hill — Yea
Portantino — Yea
Nielsen — Nay
Wiener, Scott D. Democratic Yea

Official roll call →

Placed on suspense file

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 6000
Democratic 1000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Beall — Yea
Bradford — Yea
Portantino — Yea
Hill — Yea
Bates — Yea
Nielsen — Yea
Wiener, Scott D. Democratic Yea

Official roll call →

Do pass, but first be re-referred to the Committee on [Appropriations]

Passed 9 Yea · 3 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 2000
Unaffiliated 7301
Total 9301
% of votes cast 69%23%0%8%
How each member voted (13)
Member Party Vote
Galgiani — Yea
Allen — Yea
Cannella — Yea
Morrell — Nay
Beall — Yea
Dodd — Yea
Roth — Yea
Skinner — Yea
Vidak — Nay
Wieckowski — Not Voting
Beth Gaines — Nay
McGuire, Mike Democratic Yea
Wiener, Scott D. Democratic Yea

Official roll call →

AB 2562 MULLIN Assembly Third Reading

Passed 54 Yea · 24 Nay
Party YeaNayPresentNot Voting
Unaffiliated 391800
Democratic 15000
Republican 0600
Total 542400
% of votes cast 69%31%0%0%
How each member voted (78)
Member Party Vote
Acosta — Nay
Baker — Nay
Bigelow — Nay
Bloom — Yea
Brough — Nay
Maienschein — Nay
Mathis — Nay
Nazarian — Yea
Rendon — Yea
Santiago — Yea
Ting — Yea
Weber — Yea
Chiu — Yea
Eggman — Yea
Cunningham — Nay
Daly — Yea
Friedman — Yea
Jones-Sawyer — Yea
Frazier — Yea
Rubio — Yea
Gloria — Yea
Harper — Nay
Salas — Yea
Holden — Yea
Gray — Yea
Burke — Yea
Gonzalez Fletcher — Yea
Kamlager-Dove — Yea
Kiley — Nay
Levine — Yea
Low — Yea
Fong — Nay
Chau — Yea
Mayes — Nay
McCarty — Yea
Medina — Yea
Melendez — Nay
Chu — Yea
Chávez — Nay
Cooley — Yea
Cooper — Yea
Mullin — Yea
O'Donnell — Yea
Obernolte — Nay
Quirk — Yea
Rodriguez — Yea
Steinorth — Yea
Thurmond — Yea
Voepel — Nay
Waldron — Nay
Wood — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Nay
Mark Stone — Yea
Travis Allen — Nay
Wendy Carrillo — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Berman, Marc Democratic Yea
Bonta, Mia Democratic Yea
Caballero, Anna M. Democratic Yea
Calderon, Lisa Democratic Yea
Cervantes, Sabrina Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Yea
Limón, Monique Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Chen, Phillip Republican Nay
Choi, Steven S. Republican Nay
Dahle, Megan Republican Nay
Flora, Heath Republican Nay
Gallagher, James Republican Nay
Lackey, Tom Republican Nay

Official roll call →

Do pass.

Passed 12 Yea · 4 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 9301
Democratic 3000
Republican 0100
Total 12401
% of votes cast 71%24%0%6%
How each member voted (17)
Member Party Vote
Bloom — Yea
Brough — Not Voting
Quirk — Yea
Eggman — Yea
Friedman — Yea
Gonzalez Fletcher — Yea
Fong — Nay
Bigelow — Nay
Chau — Yea
Nazarian — Yea
Obernolte — Nay
Eduardo Garcia — Yea
Wendy Carrillo — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Gallagher, James Republican Nay

Official roll call →

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2562 do?
Existing law, the Multifamily Housing Program, is administered by the Department of Housing and Community Development to address renter housing needs through an omnibus multifamily housing program. Under the program, assistance provided to a project is required to be provided in the form of a deferred payment loan to pay for the eligible costs of development. Existing law, subject to specified terms, authorizes the department to approve an extension of an existing loan, the subordination of an existing loan to new debt, or an investment of tax credit equity if the rental housing development is being operated in a manner consistent with the regulatory agreement and the development requires an extension in order to continue to operate in that manner. Existing law also authorizes the department to reduce the interest rate on any loan issued by the department to a rental housing development to as low as 0.42% per annum, or a rate determined by the department that is sufficient to cover the costs of project monitoring, whichever is greater, if the development meets specified requirements regarding, among other things, debt and household income. Existing law also authorizes the Department of Housing and Community Development to approve an extension of a department loan, the subordination of a department loan to new debt, or an investment of tax credit equity under specified rental housing finance programs other than the Multifamily Housing Program, subject to specified conditions. This bill would include loans made under the Multifamily Housing Program and any and all other multifamily housing loans funded or monitored by the department within these latter provisions authorizing the extension of an existing loan, subordination of an existing loan to new debt, or an investment of tax credit equity. The bill would require the department to reduce the interest rate on any loan issued by the department to a rental housing development if the development will utilize low-income housing tax credits, the department makes a specified determination regarding the loan or the ability of the development to syndicate, and the rate change will materially increase the feasibility of the proposed project and ensure long-term affordability for the residents. Existing law also authorizes the department to change the current interest rate for any loan for which it receives a loan extension request, associated with an award of federal or state low income housing tax credits made on or after January 1, 2014, to the applicable federal rate most recently published by the Internal Revenue Service. This bill instead would provide that the department is authorized to change the current interest rate for any loan issued by the department for which it receives a loan extension request, associated with an award of federal or state low-income housing tax credits made on or after January 1, 2014, to the applicable federal rate published by the Internal Revenue Service and in effect at the time of the project closing. Existing law requires the department to charge a fee in an amount sufficient to cover administrative costs associated with a loan modification requested by a borrower pursuant to these provisions. This bill would instead authorize the department to charge the fee.
Who sponsors AB 2562?
AB 2562 is sponsored by Atkins, Mullin, Wiener, Scott D. (Democratic), and Arambula, Joaquin (Democratic).
What is the current status of AB 2562?
This bill has been enacted into law. Introduced February 15, 2018. Enacted.
Where can I track AB 2562?
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