CA SB1206

Submits the "No Place Like Home Act of 2018" to voters at the November 6, 2018 statewide general election, exempting it from the standard 131-day waiting period required for legislative measures.

Authorizes the California Health Facilities Financing Authority to issue up to $2,000,000,000 in revenue bonds to finance permanent supportive housing for individuals with severe mental illness who are homeless or at risk of homelessness.

Establishes the Supportive Housing Program Subaccount within the Mental Health Services Fund and requires monthly transfers of up to $140,000,000 per year from the Mental Health Services Fund to support bond payments.

Allows the Legislature to appropriate an additional $140,000,000 per year from the Mental Health Services Fund for the No Place Like Home Fund, with corresponding reductions in authorized but unissued bonds.

Authorizes single-year or multiyear service contracts between the California Health Facilities Financing Authority and the Department of Housing and Community Development to finance acquisition, design, construction, rehabilitation, or preservation of permanent supportive housing.