Adjusts requirements for local and tribal governments to receive funding from the Statewide Affordable Housing Fund.

The bill modifies the criteria for local and tribal governments to be eligible for funding from the Statewide Affordable Housing Fund. Beginning in 2027, governments must commit to increasing affordable housing units by 3% annually over a baseline number, which resets every three years. Governments unable to meet this requirement can file a good faith effort waiver, provided they meet certain conditions. The bill also introduces the concept of a target increase number, which replaces the 3% requirement if a government files a commitment by November 1, 2026.

Adjusts requirements for local and tribal governments to receive funding from the Statewide Affordable Housing Fund.

The bill modifies the criteria for local and tribal governments to be eligible for funding from the Statewide Affordable Housing Fund. Beginning in 2027, governments must commit to increasing affordable housing units by 3% annually over a baseline number, which resets every three years. Governments unable to meet this requirement can file a good faith effort waiver, provided they meet certain conditions. The bill also introduces the concept of a target increase number, which replaces the 3% requirement if a government files a commitment by November 1, 2026.