reglab/statecodes huggingface dataset:
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 9 - School Facility Fee Affordable Housing Assistance Programs › Section 51453.

51453. Notwithstanding Section 51452, the sum of twenty-five million dollars ($25,000,000) which is made available pursuant to subparagraph (B) of paragraph (1) of subdivision (a) of Section 100620 of the Education Code, shall be transferred to the School Facilities Fee Assistance Fund and, notwithstanding Section 13340 of the Government Code, is hereby continuously appropriated to the department for allocation for the agency for administrative costs and to make payments to purchasers of newly constructed residential structures pursuant to Section 51451.5 from that fund as follows:
(a)  Twelve million five hundred thousand dollars ($12,500,000) shall be available for the program set forth in subdivision (a) of Section 51451.5, except that if less than 50 percent of these funds are expended within 24 months, all or part of those funds shall be available for the program set forth in subdivision (b) of Section 51451.5 at the discretion of the executive director of the agency.
(b)  Twelve million five hundred thousand dollars ($12,500,000) shall be available for the program set forth in subdivision (b) of Section 51451.5, except that if less than 50 percent of these funds are expended within 24 months, all or part of those funds shall be available for the program set forth in subdivision (a) of Section 51451.5 at the discretion of the executive director of the agency.
(c)  If after 48 months, more than 20 percent of the funds identified in subdivisions (a) and (b) are not expended, the executive director of the agency may make all or part of those funds available to the California Homebuyer’s Downpayment Assistance Program, as authorized under Chapter 11 (commencing with Section 51500).
(d)  All repayments of disbursed funds pursuant to this chapter or any interest earned from the investment in the Surplus Money Investment Fund or any other moneys accruing to the fund from whatever source shall be returned to the fund and is available for allocation by the agency to the program established pursuant to Section 51451.5.
(Amended (as added by Stats. 2002, Ch. 33) by Stats. 2002, Ch. 935, Sec. 19. Effective January 1, 2003. Inoperative on July 1, 2016, as provided in Section 51455.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 9 - School Facility Fee Affordable Housing Assistance Programs › Section 51453.5.

51453.5. Notwithstanding Section 51452, the sum of twenty-five million dollars ($25,000,000) which is made available pursuant to subparagraph (B) of paragraph (1) of subdivision (a) of Section 100820 of the Education Code, shall be transferred to the School Facilities Fee Assistance Fund and, notwithstanding Section 13340 of the Government Code, is hereby continuously appropriated to the department for allocation for the agency for administrative costs and to make payments to purchasers of newly constructed residential structures pursuant to Section 51451.5 from that fund, as follows:
(a)  Twelve million five hundred thousand dollars ($12,500,000) shall be available for the program set forth in subdivision (a) of Section 51451.5, except that if less than 50 percent of these funds are expended within 24 months, all or part of those funds shall be available for the program set forth in subdivision (b) of Section 51451.5 at the discretion of the executive director of the agency.
(b)  Twelve million five hundred thousand dollars ($12,500,000) shall be available for the program set forth in subdivision (b) of Section 51451.5, except that if less than 50 percent of these funds are expended within 24 months, all or part of those funds shall be available for the program set forth in subdivision (a) of Section 51451.5 at the discretion of the executive director of the agency.
(c)  If after 48 months, more than 20 percent of the funds identified in subdivisions (a) and (b) are not expended, the executive director of the agency may make all or part of those funds available to the California Homebuyer’s Downpayment Assistance Program, as authorized under Chapter 11 (commencing with Section 51500).
(d)  All repayments of disbursed funds pursuant to this chapter or any interest earned from the investment in the Surplus Money Investment Fund or any other moneys accruing to the fund from whatever source shall be returned to the fund and is available for allocation by the agency to the program established pursuant to Section 51451.5.
(Added by Stats. 2002, Ch. 935, Sec. 20. Effective January 1, 2003. Inoperative on July 1, 2016, as provided in Section 51455.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 9 - School Facility Fee Affordable Housing Assistance Programs › Section 51454.

51454. The Legislative Analyst’s Office shall submit a report to the Legislature and the Governor no later than January 1, 2001, regarding the effectiveness of the programs established pursuant to this chapter.
(Added by Stats. 1998, Ch. 407, Sec. 26. Effective August 27, 1998. Operative November 4, 1998 by Sec. 31 of Ch. 407, pursuant to adoption of Prop. 1A. Inoperative January 1, 2002, as provided in Section 51455.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 9 - School Facility Fee Affordable Housing Assistance Programs › Section 51455.

51455. (a) Except as provided in subdivision (b), Sections 51450, 51451, 51452, and 51454 shall not be operative on and after January 1, 2002.
(b) Except as provided in Section 51453 and 51453.5, until July 1, 2016, the School Facilities Fee Assistance Fund established by Section 51452 and the programmatic authority necessary to operate the programs authorized by Section 51451 shall continue on and after January 1, 2002, only with respect to any repayment obligation pertaining to that assistance or to any regulatory agreement imposed as a condition of that assistance.
(c) Sections 51451.5, 51453, and 51453.5 shall not be operative on and after July 1, 2016.
(d) On and after July 1, 2016, any unobligated amounts remaining in the School Facilities Fee Assistance Fund, including the repayment of disbursed moneys, or any interest earned from the investment of those moneys or any other moneys accruing to the fund from any source, shall be transferred to the Home Purchase Assistance Fund and are continuously appropriated to the agency for the purposes described in Section 51342.
(Amended by Stats. 2016, Ch. 32, Sec. 81. (SB 837) Effective June 27, 2016. Note: Termination provisions in this section affect Sections 51450 through 51454.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51475.

51475. (a)  The Legislature finds and declares:
(1)  Significant amounts of housing built to serve lower income households and families is disappearing from the housing market. This phenomenon is due to government policies that allow prepayment of mortgages, termination of use restrictions and nonrenewal of subsidy contracts and to changes in market forces which increase property values and create pressure to convert to middle or upper income housing or other commercial uses. These conversions displace lower income tenants who have very limited options for relocating in comparable affordable housing.
(2)  There are nearly 2,000 rental housing projects built in this state prior to 1980 under Section 236, Section 221(d)(3) and Section 8 programs of the United States Department of Housing and Urban Development and the Section 515 Program of the federal Farmers’ Home Administration, containing approximately 123,000 units subject to potential conversion to higher market rent housing or condominium units which will result in the displacement of lower income tenants.
(3)  It is in the public interest to preserve and expand our existing affordable lower income housing stock.
(b)  It is the intent of the Legislature to provide a flexible and expeditious source of mortgage financing for bridge loans and gap financing to preserve and expand existing afforable lower income rental housing stock.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51476.

51476. The agency shall administer a program for the preservation of multifamily housing under authority of this chapter with funds made available by the California Housing Bond Act of 1990.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51477.

51477. There is hereby created in the State Treasury an Affordable Housing Preservation and Rehabilitation Fund. “Fund” as used in this chapter means the Affordable Housing Preservation and Rehabilitation Fund. Notwithstanding the provisions of Section 13340 of the Government Code, all moneys in the fund are continuously appropriated to the agency without regard to fiscal years, for expenditure pursuant to this chapter and for defraying the actual administrative costs of the agency incurred pursuant to this chapter. Notwithstanding Section 16305.7 of the Government Code, any interest earned or other increment derived from investments made from moneys in the fund shall be deposited in the fund.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51478.

51478. All of the powers granted under this chapter are cumulative with powers of the agency under other provisions of this part, and this chapter constitutes an alternative method to issue bonds and to make mortgage loans pursuant to the provisions of this chapter.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51479.

51479. In administering a program for the preservation of multifamily housing hereunder, the agency may segregate funds available for these purposes into separate accounts as necessary to reflect the different types of assistance authorized by this chapter.
(Amended by Stats. 2002, Ch. 26, Sec. 5. Effective April 22, 2002. Operative after November 5, 2002 (Prop. 46 was adopted) by Sec. 9 of Ch. 26.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51481.

51481. Mortgages made by the agency under authority of this chapter shall be secured by a first deed of trust, or by a deed of trust junior to a first deed of trust if it is necessary to accomplish the purposes of this chapter. Except as otherwise specified in this chapter, the principal amount of, and the conditions of mortgage loans, shall be determined by the board.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51482.

51482. The agency shall adopt policies by resolution of the board for the admission of tenants, termination of tenancies, and eligibility of developers of housing financed under this part.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51483.

51483. The agency shall consult with an outside advisory committee to assist in the implementation of this chapter. The advisory committee shall be comprised of individuals who are knowledgeable about housing finance, the conversion of subsidized housing, the operation of low-income multifamily rental housing, the needs of lower income tenants and the intent and objectives of this chapter.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 10 - Multifamily Housing › Section 51484.

51484. The agency shall have all powers granted under authority of this part to make commitments and execute agreements with developers, other lenders, and any public or private entity in making mortgage loans authorized by this chapter.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 11 - California Homebuyer s Downpayment Assistance Program › Section 51500.

51500. This chapter shall be known and may be cited as the California Homebuyer’s Downpayment Assistance Program.
(Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 11 - California Homebuyer s Downpayment Assistance Program › Section 51501.

51501. The Legislature finds and declares all of the following:
(a)  There is a continuing and urgent need to provide affordable mortgage financing to meet the increasingly unfulfilled housing needs of citizens of this state.
(b)  The high cost of housing impedes the ability of California employers to compete in the national marketplace for employees.
(c)  Affordable housing enhances the quality of life for California residents and provides fuel for the state’s economic engine.
(d)  Housing is a critical component of the California economy, both as an income producing sector and a principal factor in economic development.
(e)  California’s housing crisis severely impacts families struggling to provide safe, stable homes for their children to grow and learn and the workers who are the backbone of many of the state’s most important industries.
(f)  The percentage of Californians able to purchase their own homes continues to decline, even as that percentage climbs for the rest of the nation.
(g)  Therefore, this chapter is enacted to make existing financing for residential mortgages more affordable to California’s homebuyers.
(Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 11 - California Homebuyer s Downpayment Assistance Program › Section 51502.

51502. The purpose of the California Homebuyer’s Downpayment Assistance Program is to assist first-time low- and moderate-income homebuyers utilizing existing mortgage financing.
(Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 11 - California Homebuyer s Downpayment Assistance Program › Section 51506.

51506. The downpayment assistance provided by this program shall be limited to first-time homebuyers.
(Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 11 - California Homebuyer s Downpayment Assistance Program › Section 51510.

51510. The agency shall have all the powers conferred upon it by this part (commencing with Section 50900) in administering this chapter.
(Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 11 - California Homebuyer s Downpayment Assistance Program › Section 51511.

51511. (a) This chapter, except for this section, shall not be operative on and after July 1, 2016.
(b) On and after July 1, 2016, any unobligated amounts remaining in any fund established for the purposes of this chapter, including the repayment of disbursed moneys, or any interest earned from the investment of those moneys or any other moneys accruing to the fund from any source, shall be transferred to the Home Purchase Assistance Fund and are continuously appropriated to the agency for the purposes described in Section 51342.
(Added by Stats. 2016, Ch. 32, Sec. 82. (SB 837) Effective June 27, 2016. Note: Termination clause affects Chapter 11, commencing with Section 51500, except for this section.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51520.

51520. This chapter shall be known, and may be cited, as the California Dream for All Program.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51521.

51521. The Legislature finds and declares all of the following:
(a) Housing prices in California have risen dramatically in all parts of the state in the past decade, while the wealth gap, especially the racial wealth gap, continues to be a growing problem in California.
(b) Households who cannot afford a large down payment to offset the higher prices are increasingly locked out of homeownership. This disproportionately locks out first-time and first-generation homebuyers. This is particularly true for households of color who have faced decades of systemic racial barriers.
(c) Thriving in the middle class and building generational wealth, the California dream, starts with homeownership.
(d) Therefore, the California Dream for All Program is enacted to establish a revolving, shared appreciation model to make homeownership more attainable for eligible low- and moderate-income first-time homebuyers.
(e) In a typical example, the program could provide 20 percent toward the purchase price and the homebuyer would finance the remaining 80 percent with a traditional mortgage. This would result in the first-time homebuyer purchasing the home with a low downpayment, while also lowering monthly mortgage payments by more than thirty percent compared with existing traditional low downpayment programs, a savings of more than $12,000 per year. Once the house is resold or refinanced, the program would be reimbursed for the 20 percent share, and the proceeds would revolve through the program to support additional first-time homebuyers.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51522.

51522. For the purposes of this chapter:
(a) “First-time homebuyer” has the same meaning as defined in Section 50068.5.
(b) “Fund” means the California Dream for All Fund.
(c) “Program” means the California Dream for All Program.
(d) “Shared appreciation loan” means a deferred-payment subordinate mortgage loan, the repayment of which is based on the amount of the subordinate loan plus the appreciation in the value of the home financed by the loan from the time of purchase to the time the home is sold or refinanced.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51523.

51523. (a) The California Dream for All Program is hereby established to provide shared appreciation loans to qualified first-time homebuyers. The program shall be limited to providing assistance to low- and moderate-income homebuyers in the purchase of owner-occupied homes. The agency, subject to the availability of funds for the purposes of this chapter, shall implement and administer the California Dream for All Program in accordance with this chapter.
(b) (1) In implementing this part, the agency shall adopt policies, rules, and regulations by resolution of the board of directors of the agency and consistent with this part to achieve all of the following:
(A) Provide assistance to meaningfully expand access to homeownership.
(B) Expand opportunities for California households to accumulate wealth for themselves and their families. The agency shall make any necessary program adjustments consistent with the requirements of this chapter, which may include limiting the percentage of appreciation payable under the program, to ensure that design of the loan product is not an unreasonable impediment to homeowner wealth creation.
(C) Maximize the number of households assisted over time by exploring and implementing methods for selling subordinate second mortgages originated pursuant to this chapter to investors in order to generate additional funding for the program.
(D) Establish a revolving, shared appreciation first-time homebuyer program with the goal of eventually providing up to one billion dollars ($1,000,000,000) per year for first-time homebuyers.
(E) The amount of assistance shall only be made available in conjunction with first mortgage loan financing provided by the agency, and funds available pursuant to this chapter shall also be available for interest rate buydowns and closing cost assistance for that first mortgage loan financing. Any funds made available for interest rate buydowns shall be made in conjunction with a shared appreciation loan.
(F) All repayments shall be deposited into the fund for ongoing use in the program.
(G) Sustainability for the agency without significantly adversely affecting its borrowing capacity or ability to meet other affordable housing or agency needs.
(H) Adequate consumer protection and consumer disclosure protections.
(2) Policies, rules, and regulations adopted pursuant to this part shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51524.

51524. (a) (1) There is hereby established in the State Treasury the California Dream for All Fund.
(2) Notwithstanding Section 13340 of the Government Code, all moneys in the fund are continuously appropriated to the agency, without regard to fiscal years, for expenditure pursuant to this chapter and defraying administrative costs of the agency.
(3) Notwithstanding Section 16305.7 of the Government Code, any interest earned or other increment derived from investments made from moneys in the fund shall be deposited in the fund.
(b) Moneys deposited in the fund may include appropriations from the Legislature from the General Fund or other state fund, proceeds from the agency issuing revenue bonds for the purposes set forth in this chapter pursuant to Section 51350, the sale or issuance of any debt instrument secured by repayment of loans originated pursuant to this chapter, and repayments from the program.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51525.

51525. The state and the agency shall not be liable beyond the assets of the fund for any obligation in connection therewith.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51526.

51526. (a) The agency shall, on or before January 10, 2023, and annually thereafter, furnish a report to the Legislature providing details of program implementation, including, but not be limited to, the number of loans made and the characteristics of the borrowers.
(b) The report required by this section shall be submitted pursuant to Section 9795 of the Government Code.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51527.

51527. (a) (1) The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand the terms of a shared appreciation loan provided pursuant to this chapter.
(2) The disclosure statement required by this subdivision shall include the specific terms of the shared appreciation loan offered to the borrower.
(b) (1) Before making a shared appreciation loan, a participating lender shall provide a borrower with information to access the borrower education program and disclosure statement developed pursuant to subdivision (a).
(2) A participating lender shall require the borrower to acknowledge the receipt of the disclosure statement developed pursuant to subdivision (a) before closing the loan.
(c) (1) The agency may use program funds to design and implement an ongoing borrower outreach program that provides regular disclosures or loan counseling services to a borrower while the borrower has a shared appreciation loan outstanding.
(2) The purpose of the ongoing borrower outreach program authorized by this subdivision shall be to encourage a borrower to satisfy the shared appreciation loan in a manner that is in the best interest of the borrower.
(d) (1) The agency may meet its obligations under this section by partnering or contracting with housing counselors, community organizations with expertise in housing and mortgage finance, or any other person with expertise in housing or mortgage finance.
(2) In exercising its authority under this subdivision, the agency shall take reasonable efforts to ensure that any person or organization that assists the agency in meeting the agency’s obligations under this section is free of any conflicts of interests.
(Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51528.

51528. (a) The agency shall evaluate options to finance the program with one billion dollars ($1,000,000,000) to two billion dollars ($2,000,000,000) annually. Options evaluated may include, but are not limited to, the issuance of revenue bonds, general obligation bonds, or other debt instruments, or other available alternatives.
(b) In developing the scope of the evaluation required by this section, the agency shall consult with the State Treasurer, the Legislature, and any other relevant stakeholders.
(c) On or before March 1, 2024, the agency shall submit a report on the evaluation to the Legislature in accordance with Section 9795 of the Government Code.
(Added by Stats. 2023, Ch. 196, Sec. 15. (SB 143) Effective September 13, 2023.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 12 - California Dream for All Program › Section 51529.

51529. Prior to the disbursement of the remainder of funding for the program appropriated in the 2022 Budget Act, and prior to the disbursement of any funding for the program that may be appropriated in the 2023 Budget Act, the agency shall review the program terms and parameters, and shall implement adjustments designed to achieve the following program improvements:
(a) Defining first-generation homebuyers.
(b) Targeting funds to aid first-generation homebuyers.
(c) Supporting an equitable distribution of program funds in different regions of the state.
(d) Prioritizing participation by homebuyers in the lower tiers of the income eligibility structure.
(Added by Stats. 2023, Ch. 196, Sec. 16. (SB 143) Effective September 13, 2023.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 13 - Accessory Dwelling Unit Program › Section 51530.

51530. For purposes of this chapter:
(a) “Homeowner” means an owner of a single-family residential property that does not own more than three residential properties that consist of one to four, inclusive, units.
(b) “Program” means the Accessory Dwelling Unit Program administered by the agency.
(c) “Agency” means the California Housing Finance Agency.
(Added by Stats. 2022, Ch. 570, Sec. 11. (AB 157) Effective September 27, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 13 - Accessory Dwelling Unit Program › Section 51531.

51531. (a) The agency shall convene a working group to develop recommendations for the purposes of the program. The purpose of the program is to assist homeowners in qualifying for loans to construct accessory dwelling units and junior accessory dwelling units on their property and to increase access to capital for homeowners interested in building accessory dwelling units.
(1) The working group shall include, but not be limited to, representatives from federal mortgage agencies, private lenders, community development financial institutions, community-based organizations, local housing trust funds, joint powers authorities, regional housing finance authorities, and credit unions.
(2) The working group shall explore the feasibility of different options to increase program utilization, including, but not limited to, a loan loss reserve or other credit enhancements to encourage lending, and different loan products such as renovation loans, bridge loans, and second mortgages.
(3) The working group shall explore different opportunities to mitigate risks for lenders, including, but not limited to, loan guarantees, mortgage insurance, managed escrow, and rental income guidelines.
(4) The working group shall explore opportunities to increase outreach and education to inform homeowners about the various loan and grant products available to them.
(5) The working group shall explore expanding financing options to construction costs and factory-built accessory dwelling units, including through partnerships with local agencies and qualified nonprofits. The working group shall also explore matching fund opportunities for the grants.
(6) The working group shall explore different opportunities to ease constraints that limit the loan process for homeowners, including issues that are not controlled by the agency, including, but not limited to, federal lending standards and local practices.
(b) The working group shall finish developing recommendations by July 1, 2023, for the agency to consider in the next update of its accessory dwelling unit guidelines.
(Added by Stats. 2022, Ch. 570, Sec. 11. (AB 157) Effective September 27, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 3 - CALIFORNIA HOUSING FINANCE AGENCY › CHAPTER 13 - Accessory Dwelling Unit Program › Section 51532.

51532. The agency shall conduct an evaluation of the program and shall report the agency’s findings to the Legislature by no later than January 1, 2025. The report shall be submitted in compliance with Section 9795 of the Government Code.
(Added by Stats. 2023, Ch. 169, Sec. 1. (AB 932) Effective January 1, 2024.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 1 - General Provisions and Definitions › Section 51601.

51601. It is the intent of the Legislature in enacting this part to establish programs of bond and loan insurance for the following purposes:
(a)  To encourage homeownership opportunities for low- and moderate-income rental households and to encourage multifamily residential construction and rehabilitation, all of which will revitalize the state’s economy and provide security for these households.
(b)  To encourage and facilitate the preservation of existing housing and improve housing opportunities by reducing the risk factor for all of the following:
(1)  Loans to persons and families of low and moderate income for housing in older deteriorating areas and neighborhood preservation areas.
(2)  Bonds issued by governmental agencies for the purpose of providing housing for persons and families of low or moderate income.
(3)  Loans to provide housing for persons and families of low or moderate income.
(4)  Privately financed loans for multifamily residential housing that benefits low- and moderate-income households.
(5)  Construction loan loss guarantee assistance for rehabilitation of buildings in need of rehabilitation improvements, where the building has been identified by local jurisdictions as being potentially hazardous.
(c)  To encourage and facilitate housing opportunities for low-income and moderate-income households which might not readily be available in the private market due to, in part, location, type of housing, and income group serviced, provided, however, that the actuarial soundness of the insurance fund not be jeopardized.
(d)  To provide single-family and multifamily residential housing mortgage guaranty insurance.
(e)  To provide single-family and multifamily residential guaranty insurance for construction loans.
(f)  To provide credit enhancements for the development of new, or the purchase or refinancing of existing, low-income and moderate-income housing.
(Repealed and added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 1 - General Provisions and Definitions › Section 51601.5.

51601.5. The Legislature finds and declares the following:
The California Housing Finance Agency, in administering the mortgage guaranty insurance program, as it is currently constituted in law, will adopt a new five-year business plan pursuant to board resolution at the June 9, 1993, meeting of the agency’s board of directors. The business plan will contain all of the financial resources of the agency necessary for this insurance fund to create a mortgage guaranty insurance underwriting capacity for single-family loans at one billion two hundred million dollars ($1,200,000,000) of gross insurance. In order to initiate this program, the agency will provide its 1993 commitment of eighteen million dollars ($18,000,000) as soon as reasonably practicable following the adoption of the June 9, 1993, board resolution. The agency will also commit that it will provide its 1994 pledge of eleven million dollars ($11,000,000) at its January 1994 board of directors meeting. During the five-year time period, the program will result in a significant beneficial economic impact on the state’s economy, particularly on the homebuilding and real estate resale markets. As such, the agency will remain fully committed to implementing the plan, unless the economic and fiscal expectations of the agency fail to materialize so that implementation of the plan, in whole or in part, is no longer possible without jeopardizing the fiscal integrity or the bond rating of the agency.
(Added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 1 - General Provisions and Definitions › Section 51602.

51602. (a) The agency shall require that occupancy of housing for which a loan is insured pursuant to this part shall be open to all regardless of any basis listed in subdivision (a) or (d) of Section 12955 of the Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the Government Code, and that contractors and subcontractors engaged in the construction or rehabilitation of housing funded by a loan insured pursuant to this part shall provide an equal opportunity for employment without discrimination as to any basis listed in subdivision (a) of Section 12940 of the Government Code, as those bases are defined in Sections 12926 and 12926.1 of the Government Code, and except as otherwise provided in Section 12940 of the Government Code.
(b) Notwithstanding subdivision (a), with respect to familial status, subdivision (a) shall not be construed to apply to housing for older persons, as defined in Section 12955.9 of the Government Code. With respect to familial status, nothing in subdivision (a) shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51, Section 4760, and Section 6714 of the Civil Code, and subdivisions (n), (o), and (p) of Section 12955 of the Government Code shall apply to subdivision (a).
(c) A qualified developer shall certify compliance with this section and Section 50955 according to requirements specified by the pertinent criteria of the agency.
(Amended (as amended by Stats. 2012, Ch. 181, Sec. 76) by Stats. 2013, Ch. 605, Sec. 45. (SB 752) Effective January 1, 2014.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51610.

51610. (a)  The agency shall, with respect to the implementation of this part, and notwithstanding any other provision of law, have the general powers set forth in Sections 51050 and 51058 and in this part and, in addition, may do any and all things necessary to carry out its purposes and exercise the powers expressly granted by this part.
(b)  The fund shall develop and maintain complete and current statistics and other information with respect to the loan insurance program, including, but not limited to, each of the following:
(1)  Mortgage arrearages, defaults, and foreclosures on insured loans.
(2)  Expenses incurred as a result of those arrearages, defaults, and foreclosures.
(3)  The extent of displacement caused by availability of insured loans.
(c)  The information required by subdivision (b) shall be provided in the agency’s annual report as required by Section 51622.
(Repealed and added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51611.

51611. (a)  The California Housing Loan Insurance Fund is hereby created in the State Treasury.
(b)  The California Housing Insurance Fund is hereby renamed the California Housing Loan Insurance Fund. All references in any provision of law to the California Housing Insurance Fund shall be deemed to refer to the California Housing Loan Insurance Fund. Notwithstanding Section 13340 of the Government Code, all money in the insurance fund is hereby continuously appropriated to the agency without regard to fiscal year for the purpose of insuring loans and bonds pursuant to this part and for the purpose of defraying administrative expenses incurred by the agency in operating these programs of loan and bond insurance. All insurance premiums shall be deposited in the insurance fund. Mortgage insurance in force under certificates of insurance by the California Housing Insurance Fund shall continue in force without interruption after the effective date of this act.
(c)  Notwithstanding Chapter 2 (commencing with Section 12850) of Part 2.5 of Division 3 of Title 2 of the Government Code, Article 2 (commencing with Section 13320) of Chapter 3 of Part 3 of Division 3 of Title 2 of the Government Code, or any other provision of law, expenditures of the insurance fund shall not be subject to the supervision or approval of any other officer or division of state government. However, the agency’s budget respecting the insurance fund shall be prepared and reviewed in accordance with Section 50913.
(d)  The agency shall, from time to time, direct the Treasurer to invest moneys in the insurance fund which are not required for its current needs in eligible securities designated by the agency from among those specified in Section 16430 of the Government Code or as otherwise permitted by law. The agency may direct the Treasurer to deposit moneys in the insurance fund in interest-bearing accounts in state or national banks or other financial institutions having principal offices in this state. To the extent permitted by law, the agency may invest moneys in the fund in obligations of financial institutions, as permitted by board resolution. The agency may also require the transfer of moneys in the insurance fund to the Surplus Money Investment Fund for investment pursuant to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4 of Title 2 of the Government Code.
(Repealed and added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51614.

51614. (a) The agency is hereby vested with full power, authority, and jurisdiction over the insurance fund. The agency may perform all acts necessary or convenient in the exercise of any power, authority, or jurisdiction over the insurance fund, either in the administration thereof or in connection with the business administered under this part, as fully and completely as the governing body of a private insurance carrier.
(b) The agency may create task forces and advisory committees, when appropriate and as the members deem necessary, for the purpose of obtaining advice on issues arising as a result of the agency’s activities under this part. Ex officio members of those task forces and advisory committees may include, but are not limited to, the Insurance Commissioner or his or her designee, the Director of Housing and Community Development or his or her designee, the Director of the Seismic Safety Commission or his or her designee, and the Director of Emergency Services or his or her designee.
(Amended by Stats. 2013, Ch. 352, Sec. 381. (AB 1317) Effective September 26, 2013. Operative July 1, 2013, by Sec. 543 of Ch. 352.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51615.

51615. (a) Division 10 (commencing with Section 7920.000) of Title 1 of, and Article 9 (commencing with Section 11120) of Chapter 1 of, Chapter 3.5 (commencing with Section 11340) of, Chapter 4 (commencing with Section 11370) of, and Chapter 5 (commencing with Section 11500) of, Part 1 of Division 3 of Title 2 of, the Government Code shall apply to the agency with respect to the administration of the insurance fund.
(b) Notwithstanding subdivision (a), the provisions described in that subdivision shall not apply to any of the following:
(1) The agency’s activities and records relating to establishing rates and premiums.
(2) Bids or contracts for insurance, coinsurance, and reinsurance.
(3) Other matters necessary to maintain the competitiveness of the agency in the mortgage insurance industry, including, but not limited to, the development of financial products.
(Amended by Stats. 2021, Ch. 615, Sec. 265. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Sec. 463 of Stats. 2021, Ch. 615.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51616.

51616. The state shall not be liable beyond the assets of the insurance fund for any obligations in connection therewith.
(Added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51620.

51620. In conducting the business and affairs of the insurance fund, the executive director may do any of the following:
(a)  Enter into contracts of insurance.
(b)  Decline to insure any risk in which the minimum requirements of the insurance fund are not complied with, or which is beyond the safe carrying of the insurance fund.
(c)  Reinsure any risk or any part thereof.
(d)  Make rules for the settlement of claims against the insurance fund and determine to whom and through whom the payments are to be made.
(e)  Enter into any contracts or obligations relating to the fund.
(f)  Invest and reinvest the moneys belonging to the fund as provided by this part or Part 3 (commencing with Section 50900).
(g)  Conduct all business and affairs and perform all acts relating to the fund whether or not specifically designated in this part.
(Added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 4 - BOND AND LOAN INSURANCE › CHAPTER 2 - Administration › Section 51622.

51622. (a)  The agency may contract with any private person or public agency for review of the administration of this part and for assistance in implementing this part.
(b)  The agency shall prepare a biennial report on the condition of the program of loan and bond insurance authorized by this part. The report of the evaluation shall include an evaluation of program effectiveness in relation to cost and shall include recommendations and suggested legislation for the improvement of the program, if any. The agency shall obtain an annual agreed-upon procedures engagement of the insurance fund’s books and accounts with respect to its activities under this part to be made at least once for each calendar year by an independent certified public accountant. A copy of the annual agreed-upon procedures engagement and biennial report shall be transmitted to the Governor, to the chairperson and vice-chairperson of the Senate and Assembly housing policy committees, the Senate and Assembly budget committees, and the Joint Legislative Budget Committee, and made available for review by interested parties no later than November 1 of each year for the annual agreed-upon procedures engagement and November 1 biennially for the program evaluation report.
(c) For purposes of this section, the agreed-upon procedures engagement shall be conducted in accordance with the Statements on Standards for Attestation Engagements Number 10, as issued by the American Institute of Certified Public Accountants.
(Amended by Stats. 2016, Ch. 32, Sec. 85. (SB 837) Effective June 27, 2016.)