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California legislative leaders agree to support $4 billion in affordable housing bonds

California legislative leaders agree to support $4 billion in affordable housing bonds

Democratic leaders in both chambers of the state Legislature announced a deal Monday for a $4 billion affordable housing bond.

The leaders agreed to support Senate Bill 3, legislation by Sen. Jim Beall, D-San Jose, that would authorize a bond raising funding for affordable housing. If the bill passes the Legislature and is signed by Gov. Jerry Brown, it would still need to be approved by state voters in November 2018.

In the announcement of their deal, Assembly Speaker Anthony Rendon, D-Paramount,…

Source: http://feeds.bizjournals.com/industry_21

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