CA AB430

Expands the definition of "community land trust" to include wholly owned subsidiaries that are solely directed and managed by the trust, for purposes of property tax assessment, foreclosure sales, and housing assistance programs.

Eliminates certain lease agreement requirements (such as the 99-year renewable ground lease and public agency findings) for community land trust properties to qualify for the welfare exemption from 2022-23 through 2027-28 fiscal years, allowing units to remain affordable even if occupant income increases to 140% of area median income.

Allows community land trusts to be eligible bidders in foreclosure sales of 1-4 residential unit properties and defines "community land trust" consistently across the Civil Code, Government Code, Health and Safety Code, and Revenue and Taxation Code.

Applies the revised community land trust definition to the Foreclosure Intervention Housing Preservation Program and the CalHome Program to expand financing and assistance eligibility for community land trust projects.

Establishes this bill as a state-mandated local program, requiring reimbursement to local agencies for compliance costs if determined by the Commission on State Mandates.