KGTV 10 News: Governor Jerry Brown signs affordable housing bills into law
As excerpted from KGTV 10 News:
SAN FRANCISCO, Calif. (KGTV) - Governor Jerry Brown Jr. signed legislation Friday to increase the supply and affordability of housing in California.
The laws provide funding for affordable housing, reduce regulations, boost construction and strengthen existing housing laws.
"These new laws will help cut red tape and encourage more and affordable housing, including shelter for the growing number of homeless in California," said Governor Brown.
Among the bills signed by Gov. Brown include SB 2, authored by State Senator Toni Atkins of San Diego. The Building Homes and Jobs Act establishes a permanent funding source for affordable housing through a $75 fee on real estate transaction documents. The fee is capped at $225 per transaction and exempts real estate sales. The fees would generate roughly $250 million a year, which would be split among state and local housing programs.
"We know what solves homelessness: homes," said Senator Toni Atkins (D-San Diego). "SB 2 will provide an ongoing infusion of funding that communities all over California need to build affordable housing, so they can help bring people off the streets and into safe homes with supportive services. It will also help provide housing for seniors on low, fixed incomes and struggling families.”
"Skyrocketing housing costs have squeezed California's working and middle class for too long," said Assemblymember Todd Gloria (D-San Diego). "I am proud to join the Governor and my fellow legislators to pass a historic package of bills that makes specific and tangible progress to give some relief to those struggling to pay their rents and mortgages. We have more work to do on housing affordability and I look forward to building on this year's achievements in the months ahead. Our goal must remain a roof over the head of every Californian at a price they can afford."