California AB913 allows the transfer of excess reserves or income between rental housing developments to improve fiscal integrity.

California AB913 amends the Health and Safety Code to allow the transfer of excess reserves or operating income between rental housing developments owned by the same sponsor. This measure aims to improve the fiscal integrity of developments financed with departmental resources. The bill defines "excess operating income" and "excess reserves" and authorizes the transfer of these funds between developments subject to a department regulatory agreement.

California AB913 allows the transfer of excess reserves or income between rental housing developments to improve fiscal integrity.

California AB913 amends the Health and Safety Code to allow the transfer of excess reserves or operating income between rental housing developments owned by the same sponsor. This measure aims to improve the fiscal integrity of developments financed with departmental resources. The bill defines "excess operating income" and "excess reserves" and authorizes the transfer of these funds between developments subject to a department regulatory agreement.