SB 3

Affordable Housing Bond Act

Authors: 

Beall (D- San Jose)

Co-Authors: 

Senators Allen, Atkins, Dodd, Hill, Leyva, McGuire, Mendoza, Roth, Wiener

Bill Status: 

Under consideration by Senate committee

Transform Position: 

Support

California's housing crisis has created a dire need for investment in affordable homes. SB 3 would authorize $3 billion in bond moneys, upon approval by voters, for the kinds of housing we so desparately need in our state. Good infill development near transit and farmworker housing are just two of the many good programs this bond would help to fund. SB 3 requires a two-thirds vote to pass, and then must be approved by the voters in order to permit the sale of the bonds. TransForm supports this bill as a critical step toward building more transit-oriented affordable housing.