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Administration proposes one‑stop housing finance committee to pair state subsidy with bonds and tax credits
Summary
The administration told the Senate subcommittee it wants to consolidate multiple multifamily programs under a Housing Development and Finance Committee (HDFC) to pair state subsidy awards with private‑activity bonds and 4% federal tax credits, arguing the change will shorten timelines and lower per‑unit subsidy costs; lawmakers pressed for guardrails on set‑asides, clarity on state funding levels and protections for AHSC's sustainability investments.
The Senate Budget and Fiscal Review Subcommittee No. 4 heard detailed presentations on a plan to restructure California’s affordable‑housing finance system so projects can receive state subsidy, bonds and federal tax credits in a coordinated award. Tamika Moss, secretary of the Business, Consumer Services and Housing Agency, told the committee the governor’s reorganization became effective 07/05/2025 and the trailer bills before the subcommittee “codify the reorganization changes in statute” so the state can begin implementing a consolidated approach.
Deputy Secretary Christina Moon described the proposal’s central idea: a single application and review under a Housing Development and Finance Committee (HDFC) that would pair state subsidy awards with private‑activity bonds and 4% federal tax credits. “We have a single application. It includes all…
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