Proposition 1 | Official Voter Information Guide

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PROP
1

AUTHORIZES BONDS FOR HOUSING AFFORDABILITY PROGRAMS. LEGISLATIVE STATUTE.

SUMMARY

Put on the Ballot by the Legislature

Authorizes $11.25 billion in state general obligation bonds for housing affordability programs, including multifamily rental housing, mortgages for veterans, supportive housing, preservation of existing affordable housing, and downpayment assistance. Fiscal Impact: Increased state cost of $500 million to $600 million annually for about 25 years to repay the housing bond. Supporters: US Vets; CA Federation of Teachers; Self-Help for the Elderly; Habitat for Humanity CA; CA Alliance of Child & Family Services Opponents: None submitted

WHAT YOUR VOTE MEANS

YES A YES vote on this measure means: The state could borrow $11.25 billion to support veterans and affordable housing.

NO A NO vote on this measure means: The state could not borrow $11.25 billion to support veterans and affordable housing.

ARGUMENTS

PRO Prop. 1 builds affordable homes for veterans, seniors, people with disabilities, low- and middle-income working families, vulnerable Californians and essential workers—teachers, firefighters and nurses. Expands homeownership opportunities, fast-tracks affordable shovel-ready homes, helps those one crisis away from homelessness. Requires strict fiscal accountability and public oversight with no new taxes.

CON NO ARGUMENT AGAINST PROPOSITION 1 WAS SUBMITTED.