CA SB1007

Establishes the Homeowner's Assistance for Descendants of Enslaved Persons Program administered by the California Housing Finance Agency to provide financial aid and assistance to eligible descendants.

Defines "descendant" as African American descendants of chattel enslaved persons or descendants of free Black persons living in the United States prior to the end of the 19th century.

Requires the agency to solicit and receive applications by January 1 of each year funds are available for the program.

Permits financial assistance to be used for purchasing, owning, or maintaining a home as a principal residence, including down payments, mortgage subsidies, homeowner's insurance, and other homeownership support.

Requires legislative appropriation of funds before distributions can be made under the program.