California

Health and Safety Code - HSC

17,661 sections, each with the official text and a plain-English explanation of what it means for you.

• § 50962 — The same notice requirements as specified in Section 65863.
• § 51000 — The California Housing Finance Fund is hereby created in the State Treasury.
• § 51000.1 — Notwithstanding any other provision of law, except as provided in Section 51000.
• § 51000.3 — Section 51000.
• § 51000.4 — Upon cessation of all agency operations and settlement of all obligations and debts, all assets of the California Housing Finance Agency, including those in all accounts and funds of the agency, wheth
• § 51001 — Pursuant to any agreements with the holders of particular bonds pledging any particular assets, revenues, or moneys, the agency may create separate accounts in the fund to manage assets, revenues, or
• § 51002 — Subject to any agreements with holders of particular bonds, revenue derived pursuant to this part from property improvement loans and mortgage loans shall be deposited in a special account, which shal
• § 51003 — The agency shall, from time to time, direct the Treasurer to invest moneys in the fund which are not required for its current needs, including proceeds from the sale of any bonds, in any eligible secu
• § 51004 — The agency may utilize moneys which may be appropriated to the fund from time to time by the Legislature for effectuating its purposes, including, but not limited to, the establishment of reserves or
• § 51004.5 — On or before May 1 of each year, commencing in 1980, the agency shall submit to the Legislature and the Governor, an annual plan for using its revenue bonding authority for the succeeding fiscal year
• § 51005 — (a) The agency shall, by December 31 of each year, submit an annual report of its activities under this division for the preceding year to the Governor, the Secretary of Business, Consumer Services an
• § 51006 — The executive director of the agency shall immediately certify in writing to the Joint Legislative Audit Committee, the Joint Legislative Budget Committee, the Speaker of the Assembly, the Senate Rule
• § 51007 — Subject to any agreements with holders of particular bonds, all moneys available for carrying out the purposes of this part and declared by the agency to be surplus moneys which are not required to se
• § 51050 — The agency shall have all of the following powers: (a) To sue and be sued in its own name.
• § 51050.1 — The agency may make loans to finance affordable housing, including residential structures, housing developments, multifamily rental housing, special needs housing, and other forms of housing permitted
• § 51051 — The agency shall be a state representative for purposes of receiving and allocating financial aid and contributions from agencies of the federal government which are provided to the state or to the ag
• § 51053 — The agency may make and execute contracts with qualified mortgage lenders for the initiation or servicing of mortgage loans, construction loans, property improvement loans, or development loans made o
• § 51054 — The agency may make or undertake commitments to make development loans, construction loans, mortgage loans, and property improvement loans to housing sponsors to finance housing developments, as provi
• § 51055 — The agency may purchase and sell construction loans, mortgage loans, property improvement loans, obligations secured by these loans, insurance on these loans, and participation therein.
• § 51056 — Construction loans, mortgage loans, and property improvement loans made, purchased, assigned or serving as security for obligations or participations pursuant to this part shall be limited as to charg
• § 51058 — (a) The agency may renegotiate, refinance, foreclose, or contract for the foreclosure of, any mortgage in default and may waive any default or consent to the modification of the terms of any mortgage.
• § 51058.5 — Notwithstanding any other provision of law, the agency is not required to promulgate rules and regulations in order to establish or operate a mortgage refinance program.
• § 51059 — The agency may procure insurance or coinsurance or guarantees from the federal government or from any governmental agency or instrumentality thereof, or from any private insurance company, of the paym
• § 51060 — The agency may, for services performed, charge and collect from housing sponsors and qualified mortgage lenders such fees and charges for the purpose of defraying administrative and other expenses as
• § 51061 — The agency may sell or convey real property owned by the agency to persons and families of low or moderate income, nonprofit housing sponsors, and local public entities.
• § 51062 — The agency shall establish criteria for housing sponsors and qualified mortgage lenders, which shall be designed to assure the financial integrity of programs authorized by this division and which sha
• § 51063 — Relocation payments shall be made to persons and families of low or moderate income who are residents displaced because of temporary or permanent displacement for rehabilitation work assisted under th
• § 51064 — The agency shall establish maximum sale prices for the initial sale of residential structures, the acquisition, construction, or rehabilitation of which is financed by the agency in anticipation of sa
• § 51065 — The agency may make grants to nonprofit housing sponsors and local public entities to meet expenses incurred in planning, constructing, rehabilitating, or managing housing developments.
• § 51065.1 — The agency may make grants to buyers of residential structures combined with first mortgage loans financed by the agency to be used in conjunction with the FHA Energy Efficient Mortgage Program, for t
• § 51065.5 — The agency may make unsecured loans or loans secured by assets other than real property to local public entities.
• § 51066 — For housing developments financed by a mortgage loan from the agency, the agency shall establish a grievance procedure or require housing sponsors to establish a grievance procedure, or both, for the
• § 51067 — The agency shall adopt standards for the admission of tenants, termination of tenancies, and eligibility of purchasers of housing financed under this part as well as standards establishing maximum per
• § 51068 — (a) Except as otherwise provided in subdivision (b) and notwithstanding the provisions of Sections 711, 711.
• § 51069 — The agency, after approving an application for mutual self-help housing, may make development loans and construction loans for land acquisition and development costs to eligible housing sponsors on te
• § 51070 — The agency shall require that qualified mortgage lenders do not substitute funds made available under this part for the lenders’ own resources, without permission of the agency.
• § 51100 — Subject to the limitations prescribed by Article 4 (commencing with Section 51175), the agency may make, or undertake commitments to make, development loans, construction loans, property improvement l
• § 51101 — The agency may make and publish rules and regulations respecting the making of development loans, construction loans, property improvement loans, and mortgage loans pursuant to this part, the terms an
• § 51102 — The agency shall enter into regulatory contracts and other agreements with housing sponsors receiving loans under the provisions of this part.
• § 51103 — Prior to the commitment of moneys under this part for a mortgage loan on a housing development as provided in Article 1 (commencing with Section 51100), Article 2 (commencing with Section 51125), Arti
• § 51104 — Notwithstanding any other provisions of this part, only the following types of housing developments and residential structures are eligible for mortgage loans made with the proceeds of bonds: (a) Hous
• § 51125 — The agency may invest in, purchase, or make commitments to purchase, and take assignments from qualified mortgage lenders of, construction loans, mortgage loans, property improvement loans, obligation
• § 51126 — The agency may invest in, purchase, or make commitments to purchase any residential mortgage or any obligation secured by a residential mortgage or participation therein, and sell such obligations, re
• § 51127 — The agency may insure or guarantee any obligation held by the agency and secured by a mortage on a housing development or residential structure for the purpose of increasing its acceptability or value
• § 51128 — Sales of mortgage obligations and securities pursuant to this article may be made at public or private sale, with or without public bidding, whether directly or through a contract with a private marke
• § 51150 — The agency may make loans to qualified mortgage lenders under terms and conditions requiring the proceeds thereof to be used by such mortgage lenders for the purpose of making construction loans and m
• § 51151 — Mortgage loans shall not be made under this article unless the agency determines that type of loan can be made at a lower cost to a housing sponsor than is available for the same type of loan made und
• § 51152 — Loans shall not be made by the agency to a qualified mortgage lender under this article, except pursuant to an agreement between the agency and the qualified mortgage lender.
• § 51153 — In connection with loans made pursuant to this article, the agency may collect, enforce the collection of, and foreclose on any collateral securing the loans and may acquire or take possession of such
• § 51175 — Except as provided in this article, the agency shall not make construction loans or first mortgage loans for the purpose of financing owner-occupied residential structures unless those loans are made
• § 51176 — In rural mortgage areas the agency may make and undertake commitments to make construction loans and mortgage loans to finance owner-occupied residential structures without the participation of a qual
• § 51177 — The agency may make and undertake commitments to make construction loans and mortgage loans to finance residential structures without the participation of a qualified mortgage lender where the income
• § 51180 — As used in this article: (a) “Subordinated loan” means a deferred payment mortgage loan, which is a second trust deed used in connection with other financing from the agency for the purpose of making
• § 51181 — The agency shall accept applications from housing sponsors for subordinated loans for rental housing developments upon which construction commences on or after January 1, 1983.
• § 51182 — The agency shall determine the manner in which subordinated loans are to be repaid.
• § 51200 — With respect to housing developments financed by a mortgage loan from the agency, the agency shall: (a) Prescribe uniform systems of accounts and records for rental and cooperative housing development
• § 51201 — The agency may do any of the following with respect to housing sponsors of rental and cooperative housing financed pursuant to this part.
• § 51202 — Every housing sponsor of a rental or cooperative housing development which receives a construction loan or mortgage loan or a grant pursuant to this part shall enter into an agreement with the agency
• § 51203 — Upon making a determination that the financial status of a rental or cooperative housing development is such as to jeopardize any economic interest of the agency in such housing development, the agenc
• § 51204 — The agency may prescribe regulations specifying the categories of cost which shall be allowable in the construction or rehabilitation of a housing development.
• § 51205 — (a) The agency may institute any action or proceeding pursuant to applicable provisions of law against any housing sponsor receiving or assuming a loan under this part in any court of competent jurisd
• § 51206 — Whenever a housing sponsor of a rental or cooperative housing development accumulates an earned surplus greater than such operating and replacement reserves as the agency may require, that surplus sha
• § 51207 — A person or family of low or moderate income shall not receive financial assistance under this part if such person or family has already received assistance under this part for purchase of other real
• § 51215 — The agency shall make loans to finance the construction or rehabilitation of congregate housing for the elderly in an aggregate amount of fifty million dollars ($50,000,000).
• § 51216 — An application by a housing sponsor for financing under this article shall include a plan for the provision of direct services, as defined by Section 50062.
• § 51217 — The management of congregate housing for the elderly shall, at the request of a majority of the residents, assist the residents in establishing and maintaining a resident-oriented council.
• § 51218 — At the close of each fiscal year, commencing with the fiscal year ending June 30, 1988, the agency shall, as part of its annual report required to be prepared pursuant to Section 51005, report on its
• § 51225 — In selecting proposals for financing, the agency shall balance its activity between urban metropolitan, nonmetropolitan, and rural metropolitan areas of the state in general proportion to the needs id
• § 51226 — (a) Subject to the availability of adequate subsidies, not less than 30 percent of the combined total units financed by mortgage loans and property improvement loans pursuant to this part during each
• § 51226.5 — (a) Notwithstanding the provisions of Section 51226, in each housing development financed by the agency and insured under a federal multifamily insurance program, the agency shall enter into a loan co
• § 51227 — At the close of each fiscal year the agency shall ascertain that not less than 25 percent of the total units financed by mortgage loans during the preceding 12 months pursuant to this part were made a
• § 51227.7 — It shall be a goal of the agency that not less than 80 percent of the dollar amount of financing from proceeds of bonds issued after December 31, 1979, be used to fund loans for the new construction o
• § 51228 — At the time a mortgage loan commitment is made to finance any rental or cooperative housing development, a written agreement between the agency and housing sponsor shall be executed, designating the n
• § 51230 — Not less than 30 percent nor more than 40 percent of the units financed by the agency during each fiscal year for very low-income households shall be designed specifically for occupancy by elderly per
• § 51231 — The agency shall assist housing sponsors in obtaining subsidies.
• § 51232 — To implement the purposes of this division, the agency shall develop or require housing sponsors to develop, pursuant to regulations of the agency, resident selection plans.
• § 51250 — The agency may, in connection with a housing development, arrange or contract with a local public entity (1) for the planning, replanning, opening, grading, or closing of streets, roads, roadways, all
• § 51251 — Notwithstanding any other provision of law, the Department of General Services, any other state agency or officer authorized by law to convey real property of the state, and any local public entity ma
• § 51252 — (a) Upon application to the department, any city, county, city and county, or combination thereof acting jointly, or the duly constituted governing body of an Indian reservation or rancheria shall be
• § 51300 — This chapter empowers the agency to designate neighborhood preservation areas, and to enter into agreements with local agencies.
• § 51301 — The agency shall, after public hearings, establish priorities for the allocation of financing assistance pursuant to this chapter among eligible areas and counties and cities throughout the state.
• § 51302 — Upon application by a local agency supplying such supporting information and data as the agency may require, the agency may designate an area within a city or county as a concentrated rehabilitation a
• § 51304 — The agency may designate a mortgage assistance area, after soliciting maximum feasible participation by community organizations, if it makes the following findings: (a) It is an area (1) where deterio
• § 51305 — Upon approval of an application for designation of an area as a concentrated rehabilitation area, the agency may, with respect to such area, do any one of the following: (a) Enter into an agreement wi
• § 51306 — Financing assistance for housing developments in concentrated rehabilitation areas may include any or all of the following types of loans: (a) Development loans to prepare for rehabilitation.
• § 51308 — Financing assistance may include mortgage loans for the acquisition of housing developments and residential structures in any mortgage assistance area, or any other neighborhood preservation area whic
• § 51310 — Relocation payments shall be made to persons and families displaced in making a site or a residential structure available for rehabilitation or construction financed under this chapter, and relocation
• § 51311 — Upon application by a local public entity the agency may agree to allocate funds for property improvement loans or mortgage loans for rehabilitation of residential structures or housing developments a
• § 51312 — (a) The primary purpose of this chapter is to provide an additional method of financing special needs housing.
• § 51313 — The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of this state and for their health and welfare.
• § 51314 — Subject only to the limitations of this chapter, the agency may, in addition to any other power conferred by this part, issue revenue bonds as provided in Chapter 7 (commencing with Section 51350) for
• § 51315 — Subject only to the limitations prescribed in this chapter, the agency, in addition to any other power conferred by this part with respect to housing, may make or undertake commitments to make loans t
• § 51316 — Subject only to the limitations prescribed in this chapter, the agency, in addition to any other power conferred by this part, may purchase, or undertake, directly or indirectly through lending instit
• § 51317 — For the purposes of this chapter, the agency shall have the power to issue its bonds to defray, in whole or in part, the costs of studies and surveys, insurance premiums, underwriting fees, legal, acc
• § 51318 — This chapter constitutes a complete, additional, and alternative method to issue bonds to finance the costs of special needs housing.
• § 51320 — The agency may make or purchase loans for the following purposes: (a) To finance the acquisition, construction, or development of mobilehome parks that meet either of the following criteria: (1) Are c
• § 51321 — Subject to the limitations of this chapter, the agency may, in addition to any other power conferred by this part, issue revenue bonds as provided in Chapter 7 (commencing with Section 51350) to finan
• § 51321.3 — For the purposes of this chapter, the agency shall have the power to issue its bonds to defray, in whole or in part, the costs of studies and surveys, insurance premiums, underwriting fees, legal, acc
• § 51321.6 — Subject to the provisions of this part, the agency may insure or guarantee loans made for the purposes described in Section 51320.
• § 51322 — With respect to any of the activities undertaken pursuant to Section 51320, the agency may establish maximum purchase prices for manufactured housing and maximum loan amounts and loan terms, as it dee
• § 51325 — The primary purpose of this chapter is to meet the multifamily rental housing needs of persons and families of low or moderate income.
• § 51330 — Subject only to the limitations of this chapter, the agency may, in addition to any other power conferred by this part, issue revenue bonds as provided in Chapter 7 (commencing with Section 51350) for
• § 51331 — Subject only to the limitations prescribed in this chapter, the agency, in addition to any other power conferred by this part with respect to multifamily rental housing and housing developments, may m
• § 51332 — Subject only to the limitations prescribed in this chapter, the agency, in addition to any other power conferred by this part, may purchase, or undertake, directly or indirectly through lending instit
• § 51333 — For the purposes of this chapter, the agency shall have the power to issue its bonds to defray, in whole or in part, the costs of studies and surveys, insurance premiums, underwriting fees, legal, acc
• § 51334 — The agency may, in conjunction with the financing of multifamily rental housing pursuant to this chapter, finance the development of commercial property for lease, subject to all of the following cond
• § 51335 — (a) (1) Not less than 20 percent of the total number of units in a multifamily rental housing development financed, or for which financing has been extended or committed, pursuant to this chapter shal
• § 51336 — For purposes of this article, “housing sponsor” means a person as defined in Section 50074.
• § 51340 — This chapter constitutes an alternative method to finance construction loans and mortgage loans for multifamily rental housing pursuant to the provisions of this chapter.
• § 51341 — The Legislature finds and declares that: (a) There is a continuing and urgent need to provide affordable mortgage financing to meet the increasingly unfulfilled housing needs of citizens of this state
• § 51342 — (a) There is hereby continued in the State Treasury a Home Purchase Assistance Fund.
• § 51343 — (a) The agency shall administer a home purchase assistance program in accordance with this chapter.
• § 51346 — The agency may execute a contract with the Department of Veterans Affairs to provide home purchase assistance to first-time veteran homebuyers.
• § 51349 — (a) The agency shall have all the powers conferred upon it by this part and Part 4 (commencing with Section 51600) in administering this chapter.
• § 51350 — (a) The agency may, from time to time, issue its bonds in the principal amount that the agency determines necessary to provide sufficient funds for financing housing developments and other residential
• § 51350.5 — The limitation set forth in Section 51350 on the amount of the agency’s bonds which may be concurrently outstanding, including any changes, expansions of, or additions to, such limitations, shall not
• § 51352 — Except as may otherwise be expressly provided by resolution of the agency, every issue of its bonds shall be general obligations of the agency payable out of any assets, revenues, or moneys of the age
• § 51353 — The bonds shall be authorized by resolution or resolutions of the agency, shall be in such form, shall bear such date or dates, and shall mature at such time or times as such resolution or resolutions
• § 51354 — The agency may, from time to time, issue (1) bonds to renew bonds and (2) other bond obligations to pay bonds including the interest thereon, and, whenever it deems refunding expedient, to refund any
• § 51355 — Any resolution or resolutions authorizing any bonds or issue therefor may contain provisions, which shall be a part of the contract or contracts with the holders thereof, as to: (a) Pledging all or an
• § 51356 — Any resolution or resolutions authorizing any bonds or issue thereof shall specify the extent to which revenues resulting from loans made with proceeds of the bonds so authorized are to be used to sec
• § 51357 — Any pledge made by the agency shall be valid and binding from the time when the pledge is made.
• § 51358 — Bond underwriters and consultants shall be selected by the agency.
• § 51359 — The members of the board, the executive director of the agency, or any other person executing such notes or bonds shall not be subject to any personal liability or accountability by reason of the issu
• § 51361 — The Treasurer shall act as trustee for the agency and the holders of its bonds, provided the Treasurer elects to serve as trustee with respect to a particular issuance of bonds by notifying the agency
• § 51362 — The State Treasurer or other trustee acting on behalf of bondholders shall have and possess all the powers necessary or convenient for the exercise of any functions specifically set forth in this part
• § 51363 — Whether or not the bonds are of such form and character as to be negotiable instruments under, or subject to, the terms of the California Uniform Commercial Code, the bonds and any security instrument
• § 51364 — In the event any of the board members or officers of the agency whose signatures appear on any bonds or coupons shall cease to be such board members or officers before the delivery of such bonds, such
• § 51365 — Proceeds derived from the issuance of bonds or securities and any interest or other increment derived from the investment thereof may be used for any of the purposes of the agency, including, but not
• § 51366 — The agency, in its discretion and pursuant to agreements with bondholders, may create and establish one or more special accounts in the California Housing Finance Fund, which shall be known as “bond r
• § 51367 — The agency shall not at any time issue bonds if, upon issuance of the bonds, the amount in any bond reserve fund, established pursuant to Section 51366 to secure such bonds or any previous issuance of
• § 51368 — (a) The Supplementary Bond Security Account is hereby created in the California Housing Finance Fund.
• § 51369 — The agency shall create and establish such other accounts in the California Housing Finance Fund as may be necessary or desirable for its agency purposes.
• § 51370 — In addition to the authority otherwise contained in this division to issue notes in anticipation of the sale of bonds, the agency may issue negotiable bond anticipation notes and negotiable constructi
• § 51371 — The agency may provide for the issuance of refunding bonds for the purpose of refunding any bonds then outstanding which have been issued under the provisions of this chapter, including the payment of
• § 51372 — Refunding bonds issued as provided in Section 51371 may be sold, or exchanged for outstanding bonds issued under this part and, if sold, the proceeds thereof may be applied, in addition to any other a
• § 51373 — The state does hereby pledge to and agree with the holders of any bonds issued under this part that the state will not limit or alter the rights hereby vested in the agency to fulfill the terms of any
• § 51374 — Bonds issued under the provisions of this part shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, other than the agency, or a pledge of the fai
• § 51375 — The bonds of the agency shall be legal investments in which all public officers and public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insuranc
• § 51400 — The Legislature finds and declares that it is essential to the economic growth of the state and the supply of adequate residential and multifamily rental housing in the state and that it is a public p
• § 51401 — Notwithstanding any other provision of this division, as used in this chapter: (a) “Mortgage loan” means any residential mortgage loan or multifamily rental housing loan.
• § 51402 — (a) Notwithstanding any other provision of this division, the agency may establish a mortgage loan program.
• § 51403 — (a) The agency may, from time to time, issue its taxable securities in whatever principal amount the agency determines is necessary to provide sufficient funds for the acquisition or making of mortgag
• § 51450 — (a) It is the intent of the Legislature that affordable homebuyer and rental housing programs be implemented to address the needs of economically distressed entities in the state and the needs of very
• § 51451 — The Homebuyer Down Payment Assistance Program and the Rental Assistance Program are hereby established to provide assistance in the amount of the applicable school facility fee on affordable housing d
• § 51451.5 — The Homebuyer Down Payment Assistance Program of 2002 is hereby established, to provide assistance in the amount of the applicable school facility fee on affordable housing developments.
• § 51452 — (a) The School Facilities Fee Assistance Fund is hereby established in the State Treasury and, notwithstanding Section 13340 of the Government Code, all money in the fund is continuously appropriated
• § 51453 — Notwithstanding Section 51452, the sum of fifty million dollars ($50,000,000) transferred to the School Facilities Fee Assistance Fund pursuant to subparagraph (A) of paragraph (7) of subdivision (a)
• § 51453.5 — Notwithstanding Section 51452, the sum of twenty-five million dollars ($25,000,000) which is made available pursuant to subparagraph (B) of paragraph (1) of subdivision (a) of Section 100820 of the Ed
• § 51454 — The Legislative Analyst’s Office shall submit a report to the Legislature and the Governor no later than January 1, 2001, regarding the effectiveness of the programs established pursuant to this chapt
• § 51455 — (a) Except as provided in subdivision (b), Sections 51450, 51451, 51452, and 51454 shall not be operative on and after January 1, 2002.
• § 51475 — (a) The Legislature finds and declares: (1) Significant amounts of housing built to serve lower income households and families is disappearing from the housing market.
• § 51476 — The agency shall administer a program for the preservation of multifamily housing under authority of this chapter with funds made available by the California Housing Bond Act of 1990.
• § 51477 — There is hereby created in the State Treasury an Affordable Housing Preservation and Rehabilitation Fund.
• § 51478 — All of the powers granted under this chapter are cumulative with powers of the agency under other provisions of this part, and this chapter constitutes an alternative method to issue bonds and to make
• § 51479 — In administering a program for the preservation of multifamily housing hereunder, the agency may segregate funds available for these purposes into separate accounts as necessary to reflect the differe
• § 51480 — (a) (1) Mortgage lending authorized by this chapter shall be for multifamily rental housing developments at risk of conversion.
• § 51481 — Mortgages made by the agency under authority of this chapter shall be secured by a first deed of trust, or by a deed of trust junior to a first deed of trust if it is necessary to accomplish the purpo
• § 51482 — The agency shall adopt policies by resolution of the board for the admission of tenants, termination of tenancies, and eligibility of developers of housing financed under this part.
• § 51483 — The agency shall consult with an outside advisory committee to assist in the implementation of this chapter.
• § 51484 — The agency shall have all powers granted under authority of this part to make commitments and execute agreements with developers, other lenders, and any public or private entity in making mortgage loa
• § 51500 — This chapter shall be known and may be cited as the California Homebuyer’s Downpayment Assistance Program.
• § 51501 — The Legislature finds and declares all of the following: (a) There is a continuing and urgent need to provide affordable mortgage financing to meet the increasingly unfulfilled housing needs of citize
• § 51502 — The purpose of the California Homebuyer’s Downpayment Assistance Program is to assist first-time low- and moderate-income homebuyers utilizing existing mortgage financing.
• § 51504 — (a) The agency shall administer a downpayment assistance program that includes, but is not limited to, all of the following: (1) Downpayment assistance shall include, but not be limited to, a deferred
• § 51505 — (a) In addition to the downpayment assistance program authorized by Section 51504, and notwithstanding any provision of Section 51504 to the contrary, the agency shall provide downpayment assistance f
• § 51506 — The downpayment assistance provided by this program shall be limited to first-time homebuyers.
• § 51510 — The agency shall have all the powers conferred upon it by this part (commencing with Section 50900) in administering this chapter.
• § 51511 — (a) This chapter, except for this section, shall not be operative on and after July 1, 2016.
• § 51520 — This chapter shall be known, and may be cited, as the California Dream for All Program.
• § 51521 — The Legislature finds and declares all of the following: (a) Housing prices in California have risen dramatically in all parts of the state in the past decade, while the wealth gap, especially the rac
• § 51522 — For the purposes of this chapter: (a) “First-time homebuyer” has the same meaning as defined in Section 50068.
• § 51523 — (a) The California Dream for All Program is hereby established to provide shared appreciation loans to qualified first-time homebuyers.
• § 51524 — (a) (1) There is hereby established in the State Treasury the California Dream for All Fund.
• § 51525 — The state and the agency shall not be liable beyond the assets of the fund for any obligation in connection therewith.
• § 51526 — (a) The agency shall, on or before January 10, 2023, and annually thereafter, furnish a report to the Legislature providing details of program implementation, including, but not be limited to, the num
• § 51526.1 — (a) The agency, in consultation with the staff of the Legislative Analyst’s Office, the Senate Committees on Banking and Financial Institutions, Budget and Fiscal Review, and Housing, and the Assembly
• § 51527 — (a) (1) The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand the terms of a shared appreciation loan
• § 51528 — (a) The agency shall evaluate options to finance the program with one billion dollars ($1,000,000,000) to two billion dollars ($2,000,000,000) annually.
• § 51529 — Prior to the disbursement of the remainder of funding for the program appropriated in the 2022 Budget Act, and prior to the disbursement of any funding for the program that may be appropriated in the
• § 51530 — For purposes of this chapter: (a) “Homeowner” means an owner of a single-family residential property that does not own more than three residential properties that consist of one to four, inclusive, un
• § 51531 — (a) The agency shall convene a working group to develop recommendations for the purposes of the program.
• § 51532 — The agency shall conduct an evaluation of the program and shall report the agency’s findings to the Legislature by no later than January 1, 2025.
• § 51600 — The Legislature finds and declares as follows: (a) For reasons of prudent investment policy, California’s public and private lending institutions are not making mortgage financing available for certai
• § 51601 — It is the intent of the Legislature in enacting this part to establish programs of bond and loan insurance for the following purposes: (a) To encourage homeownership opportunities for low- and moderat
• § 51601.5 — The Legislature finds and declares the following: The California Housing Finance Agency, in administering the mortgage guaranty insurance program, as it is currently constituted in law, will adopt a n
• § 51602 — (a) The agency shall require that occupancy of housing for which a loan is insured pursuant to this part shall be open to all regardless of any basis listed in subdivision (a) or (d) of Section 12955
• § 51603 — (a) Unless the context otherwise requires, the definitions contained in this chapter shall govern the construction of this part.
• § 51610 — (a) The agency shall, with respect to the implementation of this part, and notwithstanding any other provision of law, have the general powers set forth in Sections 51050 and 51058 and in this part an
• § 51611 — (a) The California Housing Loan Insurance Fund is hereby created in the State Treasury.
• § 51614 — (a) The agency is hereby vested with full power, authority, and jurisdiction over the insurance fund.
• § 51615 — (a) Division 10 (commencing with Section 7920.
• § 51616 — The state shall not be liable beyond the assets of the insurance fund for any obligations in connection therewith.
• § 51620 — In conducting the business and affairs of the insurance fund, the executive director may do any of the following: (a) Enter into contracts of insurance.
• § 51622 — (a) The agency may contract with any private person or public agency for review of the administration of this part and for assistance in implementing this part.
• § 51623 — (a) The California Housing Loan Insurance Fund, as provided for pursuant to Section 51653 as it read prior to the effective date of the act that adds this part, is continued in existence, and, pursuan
• § 51624 — The agency shall prepare a preliminary budget for the agency’s activities under this part on or before December 1 of each year for the ensuing fiscal year, to be reviewed by the Secretary of Business,
• § 51625 — (a) The agency shall cause all moneys in the insurance fund which are in excess of current requirements to be invested and reinvested, from time to time, in the same manner as provided for private ins