CA AB542

Revises Government Code Section 65583 to require housing elements to identify and analyze existing and projected housing needs and establish goals, policies, quantified objectives, financial resources, and scheduled programs for housing preservation, improvement, and development.

Changes references from "redevelopment agencies" to "housing successor agencies" established under Health and Safety Code Section 34176 regarding financing and subsidy programs for assisted housing developments.

Maintains requirements that local governments identify adequate sites for housing including rental housing, factory-built housing, mobilehomes, and emergency shelters to meet the needs of all economic segments of the community.

Requires analysis of assisted housing developments at risk of conversion from low-income use within 10 years and identification of federal, state, and local financing programs to preserve these developments for lower-income households.

Establishes that the changes apply to housing elements submitted for review more than 90 days after the effective date of the amendment or to any housing element for which the first draft was not submitted by the statutory deadline.