Jim Beall reintroduces affordable housing bill vetoed by Newsom
California’s housing crisis dominated headlines in 2019, but one San Jose legislator’s effort to alleviate its impact left Gov. Gavin Newsom’s desk without a signature.
Last year’s Senate Bill 5, authored by state Sen. Jim Beall, D-San Jose, aimed to support Newsom’s goal of building 3.5 million housing units by 2025 by establishing an Affordable Housing and Community Investment Program to help local cities and counties afford to build more affordable housing. The program would have been funded by redirecting property tax revenue initially collected for educational use.
The original legislation was vetoed in October, but will live to see another day in Sacramento as Beall reintroduced it Monday during the new legislative session – now as Senate Bill 795.
If approved, the newly-named bill would support continued in-state construction through this tax revenue reallocation. The number of available affordable units would increase, helping to ease the shortage.