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California Affordable Housing Fund Bill Passes State Senate

Friday, July 7, 2017 - 10:00AM

Legislation that would create a permanent source of funding for affordable rental and owner-occupied housing in California passed the state Senate and now goes to the Assembly for consideration. SB 2 would add fees of $75 to $225 to the recording of documents–excluding residential and commercial property sales–to establish the Building Homes and Jobs Trust Fund. The new fees would generate approximately $250 million per year to build and renovate affordable rental and owner-occupied housing, according to the bill’s sponsors.

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