The Veterans and Affordable Housing Bond Act of 2026.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
The Veterans and Affordable Housing Bond Act of 2026 authorizes the state to issue $11.25 billion in general obligation bonds to fund affordable rental housing, homeownership programs, and additional funding for veteran housing assistance. These funds will be allocated to programs like the Multifamily Housing Program, CalHome Program, and the Joe Serna, Jr. Farmworker Housing Grant Program. The bond act will be put to voters for approval on November 3, 2026.
Key provisions
- Authorizes the issuance of $11.25 billion in general obligation bonds.
- Allocates $10 billion to finance affordable rental housing and homeownership programs, including existing housing programs.
- Allocates $1.25 billion for increased funding for veteran farm, home, and mobilehome purchase assistance.
- Funds the Housing Rehabilitation Loan Fund for the Multifamily Housing Program.
- Provides funding for supportive housing initiatives.
- Includes funding for youth housing programs.
- Allocates funds for infill infrastructure grants.
- Provides funding for student housing projects at the University of California and California State University.
Who is affected
- Veterans
- Low- and Very Low-Income Households
- Housing Developers
- California Residents
- Agricultural Workers
Notable changes
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