SB 858 Summary

• Authorizes California Health Facilities Financing Authority to issue up to $2 billion in revenue bonds and make secured/unsecured loans to Department of Housing and Community Development for permanent supportive housing under the No Place Like Home Program.

• Establishes Supportive Housing Program Subaccount in Mental Health Services Fund and requires Controller to transfer up to $140 million annually from Mental Health Services Fund to pay authority's service contract obligations, with funds prohibited from being loaned to General Fund.

• Requires Department of Housing and Community Development to administer competitive grants ($1.8 billion) and over-the-counter distributions ($200 million) to counties for capital costs and operating reserves of permanent supportive housing for homeless, chronically homeless, and at-risk populations.

• Exempts service contracts between department and authority, loan agreements, and revenue bonds issued by authority from public contracting laws and California Environmental Quality Act requirements.

• Increases General Fund loans to No Place Like Home Fund from $1 million to $2 million aggregate for implementation costs, including validation proceedings and financial advisory services.