CA SB555

Requires the Department of Housing and Community Development to complete a California Social Housing Study by December 31, 2026, analyzing opportunities and obstacles for creating affordable and social housing at scale to meet the state's housing needs for extremely low, very low, low, and moderate-income households under the sixth Regional Housing Needs Assessment cycle.

Defines "social housing" as housing owned and managed by public agencies, local authorities, limited-equity cooperatives, or mission-driven nonprofits that serves mixed-income households, provides just-cause eviction protections, remains permanently protected from privatization, and allows resident participation in operations and management.

Requires the study to analyze funding sources, public lands, capacity building needs, financing constraints, existing social housing models, tenant protections, job creation impacts from union workforces, and federal policy initiatives needed to meet projected housing goals.

Mandates recommendations for utilizing available resources to create housing affordable to moderate, low, very low, and extremely low-income households through collaboration between public agencies and nonprofit entities, including removing regulatory obstacles and establishing potential revenue sources for a social housing fund.

Requires inclusion of the completed study in the Department's annual report to the Governor and Legislature for the 2027 calendar year.