CA AB1867

Reduces minimum multifamily housing complex size from 4 or more units to 3 or more units for affordable housing conversion programs that can count toward housing element obligations.

Adds requirement that for ownership housing complexes with 3 or more units being converted to affordable housing, an equal number of new-construction multifamily rental units affordable to lower income households must be constructed in the same planning period.

Allows cities and counties to substitute the provision of units for up to 25 percent of their obligation to identify adequate housing sites for low- and very low income households through committed assistance programs.

Establishes accountability requirements including progress reports by year three of the planning period and mandate to amend housing elements if committed assistance agreements are not finalized by year four.