CA AB1969

Appropriates $10,000,000 from the General Fund to the California Homebuyer's Downpayment Assistance Program to provide downpayment assistance to first-time low- and moderate-income home buyers.

Restricts use of appropriated funds to homes in development projects located on designated infill sites, close to public transit, in jurisdictions that reduce developer fees, impact fees, or regulatory barriers to housing construction.

Requires local agencies to provide verification of fee reductions (30% reduction in local fees, charges, and exactions within 12 months prior to application) through supporting documents showing successive annual fee schedules.

Makes appropriated funds available for general use by the California Housing Finance Agency after 48 months of availability if funds are not utilized for the specified infill and transit-oriented development projects.

Establishes procedures for state reimbursement to local agencies and school districts if the Commission on State Mandates determines the bill contains state-mandated costs.