PROP
1 AUTHORIZES BONDS TO FUND SPECIFIED HOUSING ASSISTANCE PROGRAMS. LEGISLATIVE STATUTE.
SUMMARY
Authorizes $4 billion in general obligation bonds for existing affordable housing programs for low-income residents, veterans, farmworkers, manufactured and mobile homes, infill, and transit-oriented housing. Fiscal Impact: Increased state costs to repay bonds averaging about $170 million annually over the next 35 years.
YES
A YES vote on this measure means: Allows the state to sell $4 billion in general obligation bonds to fund veterans and affordable housing.
NO
A NO vote on this measure means: The state could not sell $4 billion in general obligation bonds to fund veterans and affordable housing.
PRO
YES on Prop. 1 means affordable housing for veterans, working families, seniors, people with disabilities and Californians experiencing homelessness from California's severe housing crisis. Prop. 1 doesn't raise taxes! Veterans, Habitat for Humanity, Congress of CA Seniors, Coalition to End Domestic Violence and more all agree: Yes on Prop. 1.
CON
Proposition 1 would authorize the State to borrow $4 billion (by selling bonds) for housing programs. The housing shortage stemming from the influx of millions to California requires far bigger solutions. A bad solution proposed earlier this year (Senate Bill 827) would have destroyed existing neighborhoods. There are BETTER APPROACHES.