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CA SB384
Bill
AI Summary
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Requires a percentage of state bond funds used for veterans housing projects acquired, constructed, rehabilitated, or preserved on or after January 1, 2017, to be reserved specifically for housing underserved veterans
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Defines "underserved veterans" as those experiencing or at risk of homelessness at disproportionate rates compared to other veterans and nonveterans, determined by the U.S. Department of Housing and Urban Development Annual Homeless Assessment Report or similar sources
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Directs the Department of Veterans Affairs, California Housing Finance Agency, and Department of Housing and Community Development to collectively determine the annual percentage of funds to be reserved, with the first determination due July 1, 2017, and annually thereafter
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Allows reserved funding to revert to the Housing for Veterans Fund for other authorized purposes if insufficient applications for qualifying housing projects are received
Legislative Description
Veterans housing: multifamily units: underserved veterans.
Last Action
From Assembly without further action.
11/30/2016