Senate advances $10 billion housing bond measure to fund thousands of affordable units
The Senate passed SB 417, a $10 billion bond measure aimed at funding multifamily affordable housing and related programs; sponsors said roughly 45,000 projects are shovel-ready but lack final capital, while critics flagged infrastructure and interim-housing gaps.
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The California State Senate voted to move SB 417, a $10 billion housing bond bill, to the Assembly after floor debate about scale, priorities and implementation. Senator Cabaldon, the bill’s sponsor, said the bond would finance the state’s primary affordable-housing programs and close the financing gaps for more than 45,000 projects that he described as permitted and ready to build (Sen. Cabaldon).
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