CA AB2140

Requires the State Treasurer to develop a framework for the Building Home Ownership for All Program by December 31, 2025, in consultation with the California Housing Finance Agency, Department of Housing and Community Development, and other stakeholders.

Program goals include expanding affordable homeownership access for lower and moderate-income Californians, particularly those affected by systemic racism and redlining, and establishing financing for construction of affordable for-sale housing units.

Framework must address income and price limits on a regional basis, initial capitalization options, nongovernmental funding mechanisms, and integration with existing federal, state, and local homeownership programs.

Framework shall include opportunities for community development corporations, community land trusts, and nonprofit developers in formerly redlined communities to participate in home production and explore changes to streamline project approvals.

Treasurer must submit a report to the Legislature detailing program structure, financial assistance types, and feasibility analysis including costs, benefits, and comparison to existing alternatives and programs.