CA SB440

Establishes the Regional Housing Finance Act authorizing 2 or more local governments to create regional housing finance authorities to raise and allocate funding for affordable housing development, preservation, and related technical assistance.

Authorities governed by boards of at least 3 elected officials from member jurisdictions; subject to Brown Act, Public Records Act, and Political Reform Act requirements.

Authorizes authorities to impose special taxes (parcel taxes, gross receipts business taxes, employee-based taxes, rental portfolio taxes) and commercial linkage fees (up to $10 per square foot, adjusted annually) requiring voter approval.

Provides homebuilders exemptions from taxes if they meet business size criteria and exempts projects subject to inclusionary housing policies from taxation for specified periods.

Requires authorities to prepare regional expenditure plans and submit annual reports to Legislature detailing funded projects, status, and households served by income level; exempts authority actions from California Environmental Quality Act.