CA AB2926

Extends the notice period for owners of assisted housing developments to provide notice to tenants and public entities from 12 months to prior to the anticipated date of termination of subsidy contracts or expiration of rental restrictions.

Expands the definition of "assisted housing development" to include properties receiving assistance under the Middle Class Housing Act of 2022, the Affordable Housing and High Road Jobs Act of 2022, streamlined ministerial approval processes for certain housing developments, and the Affordable Housing on Faith and Higher Education Lands Act of 2023.

Extends the period for qualified entities to submit bona fide offers to purchase assisted housing developments from 180 days to 270 days, and allows owners to record new regulatory agreements with 30-year terms instead of declaring they will not sell for 5 years.

Requires owners to disclose whether they "might" increase rents after termination or expiration (regardless of federal tax credit limits) and mandates owners accept all enhanced Section 8 vouchers if tenants receive them.

Lowers the compliance certification threshold from 25% to 5% of units subject to affordability restrictions or subsidy contracts, and expands enforcement rights to include tenant organizations and groups meeting federal legitimate tenant organization standards.