CA AB129

Establishes Round 5 of the Homeless Housing, Assistance, and Prevention program with $1 billion in 2023-24 funding to create regionally coordinated homelessness action plans and provide grants to cities, counties, and continuums of care for housing and services.

Reallocates unawarded bonus funds from Rounds 3 and 4 of the Homeless Housing, Assistance, and Prevention program (up to $360 million) to Round 5 for regional coordination of homelessness efforts.

Removes the California Housing Finance Agency from within the Department of Housing and Community Development and establishes it as a separate entity within the Business, Consumer Services, and Housing Agency.

Expands the definition of "rural area" for low-income housing tax credit purposes to include eligibility under additional USDA multifamily housing programs and unincorporated areas not in designated urban census tracts.

Modifies the Middle Class Housing Act of 2022 to require contractor registration and notice to the Department of Industrial Relations for skilled and trained workforce requirements, and extends multiple housing development provisions through January 1, 2033 and 2034.