CA SB20

Authorizes two or more local agencies (cities, counties, councils of governments) and federally recognized tribal governments to create regional housing trusts through joint powers agreements to fund housing for homeless and low-income populations.

Requires regional housing trusts to be governed by a board of at least 5 directors, including a minimum of 3 elected local officials and 2 experts in homeless or housing policy who are not elected officials.

Permits regional housing trusts to fund planning, construction, and acquisition of housing for extremely low, very low, and low-income households, receive public and private financing, and issue bonds and other debt instruments.

Mandates that joint powers agreements establishing regional housing trusts include annual financial reporting and auditing requirements to maximize transparency regarding receipt and use of funds.

Allows local agencies to request special legislation for exemptions from these requirements if unique local circumstances exist.