Loading chat...
CA AB2020
Bill
Status
Introduced
2/17/2026
Primary Sponsor
Jesse Gabriel
Click for details
AI Summary
- Authorizes the Department of Housing and Community Development to permit transfers of excess reserves or excess operating income between rental housing developments owned by the same sponsor or affiliate
- Excess operating income is defined as annual net operating income exceeding 1.15 times the total required annual debt service payments, provided the owner demonstrates sufficient net operating income over a 15-year period
- Excess reserves include replacement, operating, or transition reserves that are no longer required or exceed minimum amounts specified in department regulatory agreements
- Both the source and recipient housing developments must be subject to a department regulatory agreement
- Introduced by Assembly Member Gabriel on February 17, 2026; requires majority vote and fiscal committee review
Legislative Description
Housing programs: financing.
Last Action
Referred to Com. on H. & C.D.
3/2/2026
Committee Referrals
Housing and Community Development3/2/2026
Full Bill Text
No bill text available