AB 561

  • California Assembly Bill
  • 2021-2022 Regular Session
  • Introduced in Assembly
  • Passed Assembly May 27, 2021
  • Senate
  • Governor

Help Homeowners Add New Housing Program: accessory dwelling unit financing.

Abstract

Existing law establishes the Capital Access Loan Program to assist qualified small businesses in financing the costs of complying with environmental mandates and the remediation of contamination on their properties, which is administered by the California Pollution Control Financing Authority. Under the program, the authority may enter into contracts with participating financial institutions and is required to establish a loss reserve account with each participating financial institution. Under the program, a participating financial institution that experiences a default on a qualified loan enrolled in the Capital Access Loan Program may obtain reimbursement from the authority by submitting a claim for reimbursement for a specified amount of the loss covered by that loan, subject to certain procedures. Existing law provides for the creation by local ordinance, or by ministerial approval if a local agency has not adopted an ordinance, of accessory dwelling units in areas zoned to allow single-family or multifamily dwelling residential use in accordance with specified standards and conditions. This bill, upon appropriation by the Legislature, would require the office of the Treasurer to establish and administer the Help Homeowners Add New Housing Program for the purpose of protecting participating financial institutions, as defined, from default on loans provided to a qualified homeowner to construct an accessory dwelling unit. The bill would require the office to establish various program requirements, including, among others, a minimum criteria for qualified loans that may be enrolled, a criteria for a financial institution to participate in the program, and the maximum percentage of the actual loss guaranteed under the program. The bill would authorize the office to contract with any financial institution for the purpose of allowing the financial institution to participate in the program, as specified. The bill would require the office to establish a loss reserve account for each participating financial institution that must consist of specified moneys. The bill would authorize a participating financial institution to enroll qualified loans in the program, subject to specified procedures, in order to obtain protection against default through the program. The bill would require the office to establish a procedure for a participating financial institution to submit a claim for reimbursement of losses incurred as a result of a default of an enrolled loan. This bill would establish the Accessory Dwelling Unit Access Fund in the State Treasury for the purpose of funding loss reserve accounts under the program and would make the moneys in the fund available upon appropriation by the Legislature. The bill would require the office to annually prepare a report to the Governor and the Legislature that describes the financial condition and programmatic results of the program, as specified. The bill would authorize the office to adopt necessary rules for carrying out its duties, functions, and powers relating to the program.

Bill Sponsors (6)

Votes


Actions


Jun 16, 2022

Senate

Re-referred to Com. on B. & F.I.

  • Referral-Committee
Com. on B. & F.I.

Senate

Re-referred to Com. on RLS pursuant to Senate Rule 29.10(c).

  • Referral-Committee
Com. on RLS pursuant to Senate Rule 29.10(c).

Jun 14, 2022

Senate

Read second time. Ordered to third reading.

Jun 13, 2022

Senate

From inactive file.

Senate

Read second time and amended. Ordered returned to second reading.

Senate

Ordered to second reading.

Sep 01, 2021

Senate

Ordered to inactive file at the request of Senator Hertzberg.

Aug 30, 2021

Senate

Read second time. Ordered to third reading.

Aug 26, 2021

Senate

From committee: Amend, and do pass as amended. (Ayes 5. Noes 2.) (August 26).

Senate

Read second time and amended. Ordered returned to second reading.

Aug 16, 2021

Senate

In committee: Referred to suspense file.

  • Referral-Committee
suspense file.

Jul 15, 2021

Senate

From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR.

  • Amendment-Introduction
  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on APPR.

Jul 12, 2021

Senate

Read second time and amended. Re-referred to Com. on APPR.

  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on APPR.

Jul 08, 2021

Senate

From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 2.) (July 8).

Jun 09, 2021

Senate

Referred to Com. on HOUSING.

  • Referral-Committee
Com. on HOUSING.

May 28, 2021

Senate

In Senate. Read first time. To Com. on RLS. for assignment.

May 27, 2021

Assembly

Read third time. Passed. Ordered to the Senate. (Ayes 58. Noes 7.)

May 24, 2021

Assembly

Read second time. Ordered to third reading.

May 20, 2021

Assembly

From committee: Do pass. (Ayes 12. Noes 3.) (May 20).

May 12, 2021

Assembly

In committee: Set, first hearing. Referred to APPR. suspense file.

  • Referral-Committee
APPR APPR. suspense file.

May 03, 2021

Assembly

Coauthors revised.

Assembly

Received by the Desk April 30 pursuant to Joint Rule 61(a)(2).

Assembly

From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0.) (April 29). Re-referred to Com. on APPR.

  • Committee-Passage
  • Committee-Passage-Favorable
  • Referral-Committee
Com. on APPR.

Apr 07, 2021

Assembly

Re-referred to Com. on H. & C.D.

  • Referral-Committee
Com. on H. & C.D.

Apr 06, 2021

Assembly

From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.

Feb 18, 2021

Assembly

Referred to Com. on H. & C.D.

  • Referral-Committee
Com. on H. & C.D.

Feb 12, 2021

Assembly

From printer. May be heard in committee March 14.

Feb 11, 2021

Assembly

Read first time. To print.

Bill Text

Bill Text Versions Format
AB561 HTML
02/11/21 - Introduced PDF
04/06/21 - Amended Assembly PDF
07/12/21 - Amended Senate PDF
07/15/21 - Amended Senate PDF
08/26/21 - Amended Senate PDF
06/13/22 - Amended Senate PDF

Related Documents

Document Format
04/27/21- Assembly Housing and Community Development PDF
05/11/21- Assembly Appropriations PDF
05/24/21- ASSEMBLY FLOOR ANALYSIS PDF
07/05/21- Senate Housing PDF
08/15/21- Senate Appropriations PDF
08/27/21- Senate Appropriations PDF
08/31/21- Sen. Floor Analyses PDF

Sources

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