CA SB417

Authorizes $10 billion in general obligation bonds for affordable housing programs, subject to voter approval at the November 3, 2026 statewide general election

Allocates $5.25 billion to the Multifamily Housing Program and Infill Infrastructure Grant Program, requiring at least 10% of assisted units be affordable to extremely low income households

Dedicates $1.75 billion for supportive housing, $1 billion for homeownership programs (CalHome and home purchase assistance), and $800 million to the Portfolio Reinvestment Program

Provides $500 million for acquiring and rehabilitating unrestricted housing to add affordability restrictions, plus $200 million for wildfire-related housing assistance

Sets aside $250 million each for the Joe Serna, Jr. Farmworker Housing Grant Program and the Tribal Housing Grant Program