Posted on 09 Mar 2018 for representative Jim Beall

NEWLY AMENDED SB 912 DIRECTS $2 BILLION TO HOUSE HOMELESS, FOSTER YOUTH, SURVIORS OF DOMESTIC VIOLENCE SACRAMENTO – A $2 billion proposal to accelerate housing for California’s homeless and low-income families will invest funding in the state Multifamily Housing Program and support local government homeless housing projects, according to new amendments filed by Senators Jim Beall and Nancy Skinner, the authors of Senate Bill 912. “Our cities need help immediately to stop the spread of homelessness,’’ said Beall, chairman of the Transportation and Housing Committee. “But the Trump Administration has chosen to slash programs that help homeless Americans. With SB 912, the state of California will do the right and responsible thing by providing $2 billion to house people who have no place to call home. We cannot let families languish on the streets.’’ “We are crafting SB 912 to fill gaps in affordable housing and homeless funding that were left by the Republican tax scam in Washington, and to offer funding to incentivize local governments to jump start projects and programs to address homelessness,” Senator Skinner said. SB 912’s amendments, in print today, would offset reductions in federal housing tax credits that have historically supported affordable housing nationwide, and support city and county projects to prevent homelessness with state matching funding. By investing in existing housing programs, the bill ensures quick disbursement to provide faster help for people coping with homelessness. By using $2 billion in one-time revenue funding, SB 912 allocates: $1 billion for the Multifamily Housing Program to replace the reduction in the value of federal tax credits. $1 billion to address the rise of homelessness; bridge gaps in state and federal funding to alleviate homelessness, thereby preventing higher state costs in medical care, public safety, court, and incarceration costs. $700 million in grants for city or county projects and programs such as rental assistance, flexible housing subsidies, gap financing for supportive housing that offer lower rents; affordable housing construction; emergency shelters. $200 million for grants under the Housing for a Healthy California Program. $50 million for housing of homeless youth. $50 million to an Office of Emergency Services fund for housing for survivors of domestic violence. SB 912 responds to a drastic reduction in federal low-income housing tax credits approved by the White House and the Republican-dominated Congress. Under the new changes, California stands to lose $540 million in low-income tax credits, resulting in the annual loss of 4,000 to 5,000 affordable housing units. The loss in tax credits will contribute to a severe housing shortage that is the driving force behind the rise of homelessness. From 2016 to 2017, California’s homeless population grew by nearly 14 percent, the largest annual increase the state has seen. Senators Jerry Hill, D-San Mateo; Ricardo Lara, D-Bell Gardens; Anthony J. Portantino, D–La Cañada Flintridge; and Scott Weiner, D-San Francisco, are co-authors of SB 912.