Lawmakers push $10 billion housing bond, kill rent cap
CalMatters • • nation
Key Points:
- California lawmakers are advancing a $10 billion housing bond, Senate Bill 417, to fund affordable housing, wildfire prevention, rental assistance, and first-time homebuyer aid, aiming to place it on the June primary ballot with Governor Newsom's support.
- Despite strong legislative momentum on housing production, tenant protection efforts faced setbacks as Assembly Bill 1157, which sought to tighten rent increase limits, failed to pass the Assembly Judiciary Committee amid opposition from landlords and some Democrats.
- The failed rent control bill would have capped annual rent hikes at 5% for most rentals, down from the current 10%, but concerns about its impact on landlords and housing supply led to insufficient votes for advancement.
- Senate Bill 79, allowing up
