Vote Smart's Synopsis:

Vote to pass a bill that appropriates $2 billion to affordable housing, homelessness aid, climate change, assistance, and workforce development.

Highlights:

• Authorizes $2 billion each year in appropriations to provide emergency economic recovery and development, and climate disaster and response (Sec. 3).

• Specifies that of the amount made available in section 3, the State Controller must allocate $1.8 billion in the following manner (Sec. 4):

• $500 million to the Housing Rehabilitation Loan Fund to be used for the Multifamily Housing Program; 

• $300 million to the Department of Housing and Community Development to be used for the Infill Incentive Grant Program; 

• $200 million to the Affordable Housing Innovation Fund to be used for the Local Housing Trust Fund Matching Grant Program; 

• $75 million to the Self-Help Housing Fund to be used for the CalHome Program; 

• $75 million to the Joe Serna, Jr. Farmworker Housing Grant Fund; 

• $650 million to the Business, Consumer Services, and Housing Agency to be used for the Homeless Housing, Assistance, and Prevention program; and

• $8 million to the California Workforce Development Board for distribution to local agencies to participate in, invest in, or partner with new or existing pre-apprenticeship training programs.

• Specifies that of the amount made available in section 3, the State Controller must allocate $192 million to the Governor’s Office of Business and Economic Development as follows (Sec. 5):

• $100 million for the Climate, Sea Level, and Natural Disaster Program; and

• $92 million for the Community Economic Development Program;

• Establishes the Climate, Sea Level, and Natural Disaster Program which will award money under the program to eligible entities to protect communities dealing with the effects of climate change, including sea-level rise, wildfires, and flood protection (Sec. 5).

• Establishes the Community Economic Development Program which will award money to eligible entities for (Sec. 5):

• Promoting strong neighborhoods through the support of local community planning and engagement efforts to revitalize and restore neighborhoods, including repairing infrastructure and parks, and rehabilitating and building housing and public facilities; 

• Converting vacant and underutilized commercial property into housing affordable to families earning less than 120 percent of the area median income;

• Developing on-campus or off-campus housing for students, faculty, and school employees of a campus of the University of California, California State University, or California Community College; 

• Promoting public-private partnerships; and

• Supporting small businesses and job growth for affected residents.

Full Bill Text