Bill
AB 736
Authorizes up to $10B in GO bonds to fund statewide affordable housing, including rental, supportive, homeownership, tribal, and energy-efficiency programs, if voters approve.
Note on bill identity
- The bill header you provided (AB 736 — “free menstrual products for inmates…”) does not match the legislative documents attached. The attached documents are for AB 736 (Wicks), the "Affordable Housing Bond Act of 2026." This summary is based on the text and committee/floor documents for the Affordable Housing Bond Act of 2026.
Overview
- Purpose: Proposes a statewide general obligation bond measure — the Affordable Housing Bond Act of 2026 — to raise up to $10.0 billion to finance affordable rental housing, supportive housing, homeownership programs, tribal housing, infill infrastructure, and related housing preservation and energy-efficiency programs.
- Sponsor/author: As amended, AB 736 (Wicks).
- Submission to voters: If enacted, the bond act would be placed on the June 2, 2026 statewide primary election ballot for voter approval.
- Effect: The bill declares it is an urgency statute (immediate effect), but the programmatic provisions become operative only if voters approve the bond measure.
Key provisions and allocations
- Authorizes up to $10,000,000,000 in State General Obligation bonds (exclusive of refunding bonds).
- Creates the Affordable Housing Bond Act Trust Fund of 2026 in the State Treasury to receive bond proceeds and specifies program uses.
- Recommended allocations (from the bill text; some line edits appear in different versions — see “Notes”):
- $5.0–$5.25 billion to the Housing Rehabilitation Loan Fund for the Multifamily Housing Program (minimum 10% of assisted units must be affordable to extremely low-income households).
- $1.7–$1.75 billion for supportive housing via the Multifamily Housing Program, with capitalized operating subsidy reserves for supportive units.
- $800 million (legislatively appropriated) for the Portfolio Reinvestment Program.
- $500 million (legislatively appropriated) for acquisition and rehabilitation of unrestricted housing to attach long-term affordability restrictions while safeguarding current residents from displacement.
- $200 million (legislatively appropriated) for the Energy Efficiency Low-Income Weatherization Program.
- $1.0 billion (legislatively appropriated) for homeownership programs (CalHome and home purchase assistance).
- $250–$350 million for the Joe Serna, Jr. Farmworker Housing Grant Program.
- $250 million for a tribal housing program administered by HCD (criteria to be established in statute).
- $400 million for the Infill Infrastructure Grant Program of 2019.
Program and administrative authorities
- Department of Housing and Community Development (HCD) administers many program allocations and may disburse funds during construction.
- The Legislature may amend program statutes or reallocate proceeds among listed programs to improve effectiveness.
- Bonds are issued under the State General Obligation Bond Law; the state pledges its full faith and credit to repay bond debt.
Who would be affected
- Low-income, very low-, and extremely low-income renters and homeowners statewide.
- Supportive housing residents and service providers.
- Farmworker households (Joe Serna program).
- Tribal communities (dedicated tribal housing allocation).
- Housing developers, local governments, and community-based organizations involved in development, acquisition/rehab, and weatherization.
- State finances: the state would incur long-term debt service obligations from issuance of $10 billion of GO bonds.
Procedural and timeline notes
- Legislative status (selected actions): Passed the Assembly with an urgency clause; referred to Senate Rules/assignment (documents show committee referrals and amendments in spring 2025). Final voter approval required — measure to be on the June 2, 2026 ballot if enacted by the Legislature.
- Several allocations in the bill text appear with alternate amounts (edits across versions). Legislature must appropriate certain amounts before funds are spent.
Fiscal implications
- Authorizes $10 billion in new GO bonds; repayment (principal and interest) will be a future state General Fund obligation. Exact debt-service costs depend on issuance timing and interest rates.
- The bill is subject to oversight by the state fiscal committees; it does not itself appropriate all funds but creates allocations and appropriations by program that require legislative action for some items.
Sources and caveats
- Summary based on AB 736 (Wicks) bill text and committee/floor documents (Assembly Housing & Community Development, Assembly Appropriations, floor). Because the bill text shows multiple edited dollar amounts across versions, final allocations may change before final enactment or upon voter approval.
Compiled from official sources — confirm details with the bill’s official record.
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