Sen. Toni Atkins’ bill to fund construction of affordable housing, one of her signature efforts as a state legislator, cleared a big hurdle this week when it passed the state Senate on Thursday.
SB 2 would impose a $75 fee on certain real estate documents.
On top of funding housing subsidies, the bill “would also allow the money to be used for community plan updates or fiscal incentives for local governments to approve new low-income housing,” Maya Srikrishnan reported earlier this year.
More than 100 housing bills were introduced in the Legislature this session – many of them targeting localities that don’t do enough to greenlight and actually build new housing.
SB 2 is a key piece of the puzzle because it actually provides a funding source for new construction.