Bill Text: CA AB726 | 2019-2020 | Regular Session | Introduced

California Assembly Bill 726 (Prior Session Legislation)

Introduced

Bill Title: Housing: downpayment assistance.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Failed) 2020-02-03 - Died at Desk. [AB726 Detail]

Download: California-2019-AB726-Introduced.html

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 726

Introduced by Assembly Member Wicks
(Coauthor: Senator Wiener)

February 19, 2019

An act relating to housing.

LEGISLATIVE COUNSEL'S DIGEST

AB 726, as introduced, Wicks. Housing: downpayment assistance.

Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, homeownership for very low and low-income households, and downpayment assistance for first-time homebuyers.

This bill would express the intent of the Legislature to enact legislation that would create a pilot program to provide downpayment assistance to persons who are purchasing their rental residence pursuant to a rent-to-own contract.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

It is the intent of the Legislature to enact legislation that would create a pilot program to provide downpayment assistance to persons who are purchasing their rental residence pursuant to a rent-to-own contract.