CA AB1043

Establishes a new income category of "acutely low income households" defined as persons and families with incomes not exceeding 15 percent of area median income, adjusted for family size.

For rental housing developments receiving assistance on or after January 1, 1991, limits affordable rent for acutely low income households to 30 percent times 15 percent of area median income adjusted for family size, effective for leases entered into on or after January 1, 2022.

Requires the department to publish income limits for all geographic areas of the state annually in the California Code of Regulations.

Imposes state-mandated local program requirements on local government officials administering housing programs and determining affordable rent levels.

Provides that if the Commission on State Mandates determines the bill creates state-mandated costs, reimbursement shall be made pursuant to existing statutory procedures under Government Code Part 7.