CA AB2498

Establishes the California Housing Security Program, a 2-year pilot program to provide housing subsidies to eligible low-income persons including former foster youth, older adults, persons with disabilities, unemployed individuals, formerly incarcerated persons, homeless persons, and veterans.

Requires the Department of Housing and Community Development to establish the pilot program by January 1, 2026, and select participating counties with geographic representation from northern (2), southern (4, including Los Angeles, San Diego, and Orange), and central (2) regions of the state.

Limits housing subsidies to a maximum of $2,000 per month or as a one-time subsidy during the pilot period, with the subsidy amount determined by what is necessary to prevent homelessness.

Requires participating counties to develop final program guidelines by July 1, 2026, and administer subsidies through the county and at least 2 grantees (cities, housing authorities, or nonprofits) by January 1, 2027, ensuring geographic equity in distribution.

Specifies that housing subsidy assistance is not counted as income for public assistance eligibility purposes and permits undocumented persons meeting eligibility criteria to receive subsidies; requires annual reporting on program performance metrics beginning January 1, 2028.