reglab/housing_qa huggingface dataset:
CA Health & Safety Code § 52514 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52514.

52514.  In consideration for the agency’s contract, and performance of contract, to purchase a buy-down of the effective interest to the borrower on the mortgage loan, the agency shall obtain a note and deed of trust from the borrower under terms prescribed by regulations of the agency adopted by the policy committee. Such note and deed of trust shall be subordinate to the mortgage loan by a qualified mortgage lender executed pursuant to this part. The subordinate mortgage or deed of trust obtained by the agency under this section may, at the option of the agency exercised upon the initiation of such note and mortgage, provide that all amounts due and payable shall be paid at the end of the sixth year or shall be repaid on an amortized basis commencing with the seventh year and extending through the 30th year, or some term selected by the agency and provided in the initiating loan documents between the end of the sixth year and the end of the 30th year. The amount of the subordinate note and mortgage shall be equal to the contract amount advanced by the agency to the qualified mortgage lender to effect the buy-down, plus interest on those amounts at a rate calculated to cover the cost of funds to the agency for this program and administrative costs, less any amounts returned to the agency by the lender for the credit of the borrower pursuant to Section 52513, and shall be specified in the note and mortgage upon the initiation of that note and mortgage.The agency may make and execute contracts with the qualified mortgage lender for the initiation or servicing of the subordinate mortgage loan. The agency may pay the reasonable value of services rendered to the agency pursuant to such contracts.The notes and mortgages may be held or sold by the agency, or the agency may create pools of such loans, obligations, and participations held by the agency and may sell securities backed by such pools.(Added by Stats. 1982, Ch. 320, Sec. 12. Effective June 29, 1982.)
CA Health & Safety Code § 52514.5 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52514.5.

52514.5.  All payments to the agency by the borrower on any note executed pursuant to Section 52514 shall be considered payments of interest for the purposes of Section 17230 of the Revenue and Taxation Code.(Amended by Stats. 1999, Ch. 987, Sec. 1. Effective October 10, 1999.)
CA Health & Safety Code § 52515 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52515.

52515.  The real property to be purchased by the borrower on a mortgage loan pursuant to this part shall be an owner-occupied housing unit, the acquisition price of which does not exceed 90 percent of the average purchase price in the statistical area, except that such acquisition cost shall not exceed 110 percent of the average purchase price in a targeted area. The average purchase price means the purchase price determined by the agency, through action of the policy committee, for similar owner-occupied units. Such determinations shall be made not less often than annually for each statistical area and targeted area.(Added by Stats. 1982, Ch. 320, Sec. 12. Effective June 29, 1982.)
CA Health & Safety Code § 52516 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52516.

52516.  The agency shall establish by regulation, adopted by the policy committee, standards for the eligibility of purchasers of housing subject to this part. Such individuals shall be first-time home buyers. Mortgages pursuant to this part cannot be used to acquire or replace an existing mortgage, except a mortgage which is security for a construction loan or a bridge loan or similar temporary initial financing. The purchaser shall be a resident of California. The qualified mortgage lender shall certify to the agency, in good faith, after prudent qualification of the purchaser that the purchaser is qualified under the provisions of this part. Section 51067 is not applicable to mortgage loans under this part.(Added by Stats. 1982, Ch. 320, Sec. 12. Effective June 29, 1982.)
CA Health & Safety Code § 52517 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52517.

52517.  Notwithstanding any other provisions of this part, only mortgage loans are eligible for buy-down under the provisions of this part which are presently, or are expected to be, insured in whole or part by the Federal Housing Administration or guaranteed in whole or part by the United States Veterans Administration, the Farmers Home Administration of the United States Department of Agriculture, an agency of the state, by a private insuring entity authorized to engage in such business, or by any combination of the above, in percentages determined by the agency by regulation adopted by the policy committee, except that such insurance or guarantee need not be required, in the discretion of the policy committee, if the amount of the mortgage loan is less than 80 percent of the appraised value of the property (under standards applicable to that lender) which is the security for the loan.(Amended by Stats. 1983, Ch. 260, Sec. 1. Effective July 15, 1983.)
CA Health & Safety Code § 52518 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52518.

52518.  Notwithstanding the provisions of Section 711 of the Civil Code, the agency shall not permit the assumption of the obligation under any note or mortgage securing the interest of the agency pursuant to Section 52514, by a subsequent ineligible purchaser or transferee of the prior borrower. If the subsequent purchaser or transferee does not meet the eligibility requirements of this part, the agency shall require acceleration of repayment of the principal balance of the loan to be all due and payable upon the sale or transfer of the property. For purposes of determining eligibility, the limits on acquisition price, as specified in Section 52515, shall be determined at the time of the proposed assumption.(Added by Stats. 1982, Ch. 320, Sec. 12. Effective June 29, 1982.)
CA Health & Safety Code § 52519 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 2 - Buy-Down Mortgage Plan|Section 52519.

52519.  The agency may renegotiate, refinance, foreclose, or contract for the foreclosure of any mortgage executed pursuant to Section 52514 which is in default, and may waive any default or consent to the modification of the terms of any mortgage. With respect to mortgage loans made pursuant to this part, the agency shall require that mortgage servicing and foreclosure practices, including forebearance and recasting of mortgages in default, conform to agency regulations.The agency may commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract, or other agreement, and may bid for and purchase property sold in satisfaction thereof at any foreclosure or other sale or may otherwise acquire and take possession of such property. In connection with any such proceeding, the agency may assume any underlying mortgage held by a qualified mortgage lender or may, as necessary to acquire and take possession of such property, pay any note in order to remove any prior encumbrance. Subject to any agreement with bondholders, the agency may operate, manage, lease, dispose of, and otherwise deal with such property in such manner as may be necessary to protect the interest of the agency and the holders of its bonds.(Added by Stats. 1982, Ch. 320, Sec. 12. Effective June 29, 1982.)
CA Health & Safety Code § 52525 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52525.

52525.  This chapter shall be known and may be cited as the First-Time Home Buyers Bond Act of 1982.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52526 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52526.

52526.  The State General Obligation Bond Law is adopted for the purpose of the issuance, sale and repayment of, and otherwise providing with respect to, the bonds authorized to be issued by this chapter, and the provisions of that law are included in this chapter as though set out in full in this chapter.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52527 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52527.

52527.  The First-Time Home Buyers Finance Committee is hereby created. The committee shall consist of the Governor, the Controller, the Treasurer, the Director of Finance, and the Chairperson of the Board of Directors of the California Housing Finance Agency. The Treasurer shall serve as chairperson of the committee. Such committee shall be the “committee,” as that term is used in the State General Obligation Bond Law. The Board of Directors of the California Housing Finance Agency shall be the “board,” as that term is used in the State General Obligation Bond Law.(Amended by Stats. 1983, Ch. 260, Sec. 2. Effective July 15, 1983. Note: This section was added by Stats. 1982, Ch. 320, and approved in Prop. 5 on Nov. 2, 1982.)
CA Health & Safety Code § 52528 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52528.

52528.  The committee is hereby authorized and empowered to create a debt or debts, liability or liabilities, of the State of California, in the aggregate of fifteen million dollars ($15,000,000), in the manner provided in this chapter. The debt or debts, liability or liabilities, shall be created for the purpose of providing the funds to be used for the purposes specified in Section 52505 and shall be deposited in the First-Time Home Buyers Fund created pursuant to Section 52504.(Amended by Stats. 1993, Ch. 116, Sec. 1. Effective July 15, 1993. Note: This section was added by Stats. 1982, Ch. 320, and approved in Prop. 5 on Nov. 2, 1982.)
CA Health & Safety Code § 52529 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52529.

52529.  The committee, upon the request of the board stating the purposes for which the bonds are proposed to be used and the amount of the proposed issuance, shall determine whether or not it is necessary or desirable to issue any bonds authorized under this chapter, and if so, the amount of bonds then to be issued and sold. The committee may authorize the State Treasurer to sell all or any part of the bonds herein authorized at such time or times as may be fixed by the State Treasurer.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52529.5 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52529.5.

52529.5.  Notwithstanding the provisions of Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code, the policy committee may, whenever it deems it necessary to effectuate the provisions of this part or to conduct an effective sale, authorize the state treasurer to sell any issue of bonds under either, or both, of the following conditions:(a) With interest payments to be made less frequently than semi-annually, and an initial interest payment later than one year after the date of the bonds, if such interest payment date shall not be later than the maturity date of the bonds and is fixed to coincide, as nearly as the committee may deem to be practicable, with the dates and amounts of the estimated revenues estimated to accrue to the fund pursuant to this part.(b) At less than the par value thereof if necessary to an effective sale, but the discount pursuant to this subdivision shall not exceed 6 percent of the par value thereof.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52530 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52530.

52530.  All bonds herein authorized, which shall have been duly sold and delivered as herein provided, shall constitute valid and legally binding general obligations of the State of California, and the full faith and credit of the State of California is hereby pledged for the punctual payment of both principal and interest thereon.There shall be collected annually in the same manner and at the same time as other state revenue is collected such a sum, in addition to the ordinary revenues of the state, as shall be required to pay the principal and interest on such bonds as herein provided, and it is hereby made the duty of all officers charged by law with any duty in regard to the collection of such revenue to do and perform each and every act which shall be necessary to collect such additional sum.All money deposited in the fund which has been derived from premium and accrued interest on bonds sold shall be available for transfer to the General Fund as a credit to expenditures for bond interest.All money deposited in the fund pursuant to any provision of law requiring repayments to the state which are financed by the proceeds of the bonds authorized by this chapter shall be available for transfer to the General Fund. When transferred to the General Fund such money shall be applied as a reimbursement to the General Fund on account of principal and interest on the bonds which has been paid from the General Fund.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52531 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52531.

52531.  There is hereby appropriated from the General Fund in the State Treasury for the purpose of this chapter such an amount as will equal the following:(a) Such sum annually as will be necessary to pay the principal of and the interest on the bonds issued and sold pursuant to the provisions of this chapter. (b) Such sum as is necessary to carry out the provisions of Section 52532, which sum is appropriated without regard to fiscal years.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52532 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52532.

52532.  For the purpose of carrying out the provisions of this chapter, the Director of Finance may by executive order authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds which the committee has by resolution authorized to be sold for the purpose of carrying out this chapter. Any amounts withdrawn shall be deposited in the fund and shall be disbursed by the committee in accordance with this chapter. Any money made available under this section to the First-Time Home Buyers Fund shall be returned by the First-Time Home Buyers Fund to the General Fund from repayments received from the first-time home buyers. Such withdrawals from the General Fund shall be returned to the General Fund with interest at the rate which would have otherwise been earned by such sums in the Pooled Money Investment Fund.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52532.5 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52532.5.

52532.5.  Notwithstanding any other provision of this bond act, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), if the Treasurer sells bonds pursuant to this bond act that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes under designated conditions, the Treasurer may maintain separate accounts for the bond proceeds invested and the investment earnings on those proceeds, and may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law, or take any other action with respect to the investment and use of those bond proceeds, as may be required or desirable under federal law in order to maintain the tax-exempt status of those bonds and to obtain any other advantage under federal law on behalf of the funds of this state.(Added by Stats. 1991, Ch. 652, Sec. 13.)
CA Health & Safety Code § 52533 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 3 - First-Time Home Buyers Bond Act of 1982|Section 52533.

52533.  Money in the First-Time Home Buyers Fund may only be expended for projects specified in this chapter.(Added by Stats. 1982, Ch. 320, Sec. 12. Approved in Proposition 5 at the November 2, 1982, election.)
CA Health & Safety Code § 52533.5 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 4 - Repeal|Section 52533.5.

52533.5.  Notwithstanding any other provision of law, the agency shall have no authority to make mortgages or to incur debt pursuant to this part after the date of the approval of the California Housing and Jobs Investment Bond Act (Part 6.1 (commencing with Section 52534)) by the California electorate.(Added by Stats. 1993, Ch. 116, Sec. 2. Effective July 15, 1993. Note: Conditions in Section 52533.6 for repeal of Part 6 failed. Part 6.1 (Calif. Housing and Jobs Investment Bond Act), as proposed by Stats. 1993, Ch. 116, Sec. 3, was rejected as Prop. 173 on Nov. 2, 1993.)
CA Health & Safety Code § 52533.6 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6 - CALIFORNIA FIRST-TIME HOME BUYERS|CHAPTER 4 - Repeal|Section 52533.6.

52533.6.  This part shall remain in effect only until the Director of Finance certifies, in writing, to the Secretary of State that all mortgages made, and all debts incurred, pursuant to this part on or before the date of the approval of the California Housing and Jobs Investment Bond Act (Part 6.1 (commencing with Section 52534)) by the California electorate, have been extinguished, and as of the date of that certification is repealed, unless a later enacted statute, which is enacted before that certification, deletes or extends that date.(Added by Stats. 1993, Ch. 116, Sec. 2. Effective July 15, 1993. Note: Repeal would have affected Part 6, commencing with Section 52500, but conditions for repeal failed. Part 6.1 (Calif. Housing and Jobs Investment Bond Act), as proposed by Stats. 1993, Ch. 116, Sec. 3, was rejected as Prop. 173 on Nov. 2, 1993.)
CA Health & Safety Code § 52535 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 6.2 - CALIFORNIA HOUSING PARTNERSHIP|CHAPTER 1 - General Provisons|Section 52535.

52535.  The Legislature finds and declares as follows:(a)  A significant amount of housing built to serve lower income households and very low income households and families is starting to disappear from the housing market. This phenomenon is due to government policies that allow prepayment of mortgages or nonrenewal of subsidy contracts after short periods of time and to changes in market forces which increase property values and create pressure to convert to middle or upper income housing or office or commercial use. In many neighborhoods, these conversions displace low-income and very low income tenants who have very limited options for relocating in comparable housing. (b)  Replacing this resource will be so expensive as to make it a practical impossibility. Scarce public resources make it extremely difficult to finance acquisition of the existing low- and very low income housing that could prevent some of this loss. (c)  There is an inadequate supply of private capital and investors committed to preserving existing low- and very low income housing for the useful life of the buildings, particularly for inner-city, troubled, small, and scattered-site housing developments. Many of the changes in the 1986 Federal Tax Reform Act have increased the difficulties of raising equity capital for lower income housing. These economic pressures will add to the depletion of the low-income and very low income housing stock. (d)  It is the policy of this state to encourage the widest possible joint participation by local and state government and nonprofit and private enterprise in the preservation and expansion of housing for low-income households and very low income households. (e)  It is in the public interest that one or more organizations should be created to encourage maximum participation by private investors and the public sector in programs and projects to preserve and expand the existing supply of low-income housing and very low income housing serving California residents. (f)  It is, additionally, in the public interest to permit a nonprofit corporation to be formed for the purpose of raising private equity capital for syndication of projects sponsored by nonprofit housing development corporations. The equity capital raised will go toward the acquisition, rehabilitation, acquisition and rehabilitation, or construction of housing and related facilities, primarily for the benefit of low-income households and very low income households. (Added by Stats. 1987, Ch. 1355, Sec. 1.)