CA ACA3

Requires UC Regents by January 1, 2027 to extend homeownership assistance currently available to senior executives and faculty to eligible support staff through down payment loans

Defines eligible support staff as career employees with at least 5 years at UC who are first-time homebuyers and are not supervisors, managers, executives, or Academic Senate faculty

Starting in 2027-28, the number of down payment loans for support staff must equal the number of housing loans made to executives and faculty in 2023-24, with annual adjustments based on prior year executive/faculty loans

75% of down payment loans must go to support staff with household incomes at or below area median income

Down payment loans are no-interest, deferred-payment loans for 20% of purchase price; upon sale or refinancing, borrower repays principal plus 20% of home appreciation