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Senate committee advances $10 billion housing bond bill aimed at preserving pipeline of affordable projects
Summary
SB417 would place a $10 billion Affordable Housing Bond Act before voters to fund construction and preservation of affordable rental and ownership housing; backers said it would unlock 40,000 shovel‑ready homes, while some groups urged dedicated CalHome funding and lawmakers debated debt levels and long‑term cost control.
Sen. C. Cabaldon introduced SB417, calling it “a $10,000,000,000 affordable housing bond act” intended to fund construction, preservation and rehabilitation of affordable rental housing and homeownership opportunities and to leverage federal tax credits to advance projects. He said tens of thousands of units are shovel‑ready but lack…
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