The Affordable Housing Bond Act of 2026.

Assembly Members Wicks, Haney, and Quirk-Silva propose a $10 billion state bond measure to fund affordable housing programs through the Affordable Housing Bond Act of 2026. The measure would allocate $5 billion to the Multifamily Housing Program, with 10% of assisted units reserved for extremely low-income households.

The bond proceeds would distribute an additional $1.7 billion for supportive housing with operating subsidies, $800 million for the Portfolio Reinvestment Program, and $500 million to preserve unrestricted housing units with new affordability requirements. The measure designates $1 billion for homeownership programs through CalHome and home purchase assistance initiatives, while providing $350 million for farmworker housing grants and $250 million for tribal housing programs. The remaining $400 million would support infill infrastructure projects.

If approved by voters in June 2026, the measure authorizes the state to issue general obligation bonds repaid through additional annual revenue collection. The Department of Housing and Community Development and California Housing Finance Agency would oversee program administration, with provisions allowing legislative amendments to improve program effectiveness and adjust allocations as needed.