CA SB751

Authorizes the County of Los Angeles and cities within the San Gabriel Valley Council of Governments to create the San Gabriel Valley Regional Housing Trust as a joint powers agency to fund affordable housing for homeless and low-income populations.

Establishes a nine-member board of directors consisting of seven representatives from participating cities and County supervisors, plus two experts in homeless or housing policy, appointed by the San Gabriel Valley Council of Governments governing board.

Grants the trust authority to fund planning and construction of housing for extremely low, very low, and low-income households, receive public and private financing, and issue bonds or other debt instruments.

Requires the joint powers agreement to incorporate annual financial reporting and auditing requirements that demonstrate transparency regarding receipt and use of funds.

Declares that a special statute is necessary for the San Gabriel Valley region due to its unique affordable housing crisis and high housing costs.