CA AB3144

Establishes the Housing Cost Reduction Incentive Program administered by the Department of Housing and Community Development to reimburse cities, counties, and city-counties for development impact fee waivers or reductions provided to qualified rental housing developments.

Requires the department to provide grants equal to 50% of waived or reduced development impact fees upon legislative appropriation, with annual Notices of Funding Availability issued for each calendar year.

Defines qualified rental housing developments as those subject to a recorded regulatory agreement lasting at least 55 years requiring at least 75% of units to be affordable to and occupied by lower-income households.

Requires grant recipients to deposit funds into the same account as the waived/reduced fees and use funds solely for purposes the original development impact fee would have funded.

Prohibits grants to applicants that waive or reduce development impact fees for non-affordable housing projects and exempts program guidelines from standard Administrative Procedure Act rulemaking requirements.