Bill Text: CA SB2 | 2017-2018 | Regular Session | Amended
Bill Title: Building Homes and Jobs Act.
Spectrum: Partisan Bill (Democrat 24-0)
Status: (Passed) 2017-09-29 - Chaptered by Secretary of State. Chapter 364, Statutes of 2017. [SB2 Detail]
Download: California-2017-SB2-Amended.html
Amended
IN
Senate
March 21, 2017 |
Amended
IN
Senate
March 07, 2017 |
Amended
IN
Senate
February 22, 2017 |
Senate Bill | No. 2 |
Introduced by Senator Atkins (Coauthors: Senators Beall, Bradford, Dodd, Galgiani, Hertzberg, Hill, Hueso, Jackson, Mendoza, Mitchell, Roth, Skinner, Wieckowski, and Wiener) (Coauthors: Assembly Members Bonta, Gloria, and Thurmond) |
December 05, 2016 |
LEGISLATIVE COUNSEL'S DIGEST
Digest Key
Vote: 2/3 Appropriation: NO Fiscal Committee: YES Local Program: YESBill Text
The people of the State of California do enact as follows:
SECTION 1.
This act shall be known as the Building Homes and Jobs Act.SEC. 2.
(a) The Legislature finds and declares that having a healthy housing market that provides an adequate supply of homes affordable to Californians at all income levels is critical to the economic prosperity and quality of life in the state.SEC. 3.
Section 27388.1 is added to the Government Code, to read:27388.1.
(a) (1) Commencing January 1, 2018, and except as provided in paragraph (2), in addition to any other recording fees specified in this code, a fee of seventy-five dollars ($75) shall be paid at the time of recording of every real estate instrument, paper, or notice required or permitted by law to be recorded, except those expressly exempted from payment of recording fees, per each single transaction per parcel of real property. The fee imposed by this section shall not exceed two hundred twenty-five dollars ($225). “Real estate instrument, paper, or notice” means a document relating to real property, including, but not limited to, the following: deed, grant deed, trustee’s deed, deed of trust, reconveyance, quit claim deed, fictitious deed of trust, assignment of deed of trust, request for notice of default, abstract of judgment, subordination agreement, declaration of homestead, abandonment of homestead, notice of default, release or discharge, easement, notice of trustee sale, notice of completion, UCC financing statement, mechanic’s lien, maps, and covenants, conditions, and restrictions.SEC. 4.
Section 50408 of the Health and Safety Code is amended to read:50408.
(a) On or before December 31 of each year, the department shall submit an annual report to the Governor and both houses of the Legislature on the operations and accomplishments during the previous fiscal year of the housing programs administered by the department, including, but not limited to, the Emergency Housing and Assistance Program and Community Development Block Grant activity.SEC. 4.SEC. 5.
Chapter 2.5 (commencing with Section 50470) is added to Part 2 of Division 31 of the Health and Safety Code, to read:CHAPTER 2.5. Building Homes and Jobs Act
Article 1. General Provisions
50470.
(a) (1) There is hereby created in the State Treasury the Building Homes and Jobs Trust Fund. All interest or other increments resulting from the investment of moneys in the fund shall be deposited in the fund, notwithstanding Section 16305.7 of the Government Code.50470.5.
For purposes of this chapter:50470.7.
(a) The Building Homes and Jobs Trust Fund Governing Board is hereby established. The governing board shall50471.
(a) In order to maximize efficiency and address comprehensive needs, the department, in consultation with the California Housing Finance Agency, the California Tax Credit Allocation Committee, and the California Debt Limit Allocation Committee, shall develop and submit to the Legislature, at the time of the Department of Finance’s adjustments to the proposed 2018–19 fiscal year budget pursuant to subdivision (e) of Section 13308 of the Government Code, the Building Homes and Jobs Investment Strategy. Notwithstanding Section 10231.5 of the Government Code, commencing with the 2023–24 fiscal year, and every five years thereafter, concurrent with the release of the Governor’s proposed budget, the department shall update the investment strategy and submit it to the Legislature. The governing board shall review and advise the department regarding the investment strategy prior to its submission to the Legislature. The investment strategy shall do all of the following:Article 2. Audits and Reporting
50475.
The California State Auditor’s Office shall conduct periodic audits to ensure that the annual allocation to individual programs is awarded by the department in a timely fashion consistent with the requirements of this chapter. The first audit shall be conducted no later than 24 months from the effective date of this section.(a)In its annual report to the Legislature pursuant to Section 50408, the department shall report how funds that were made available pursuant to this chapter and allocated in the prior year were expended, including efforts to promote a geographically balanced distribution of funds. The report shall also assess the impact of the investment on job creation and the economy. With respect to any awards made specifically to house or support persons who are homeless or at risk of homelessness, the report shall include an analysis of the effectiveness of the funding in allowing these households to retain permanent housing. The department shall make the report available to the public on its Internet Web site.
(b)(1)In the report, the department shall make a determination of whether any of the moneys derived from fees collected pursuant to Section 27388.1 of the Government Code are being allocated by the state for any purpose not authorized by Section 50470 and shall share the information with the county recorders.
(2)If the department determines that any moneys derived from fees collected pursuant to Section 27388.1 of the Government Code are being allocated by the state for a purpose not authorized by Section 50470, the county recorders shall, upon notice of the determination, immediately cease collection of the fees imposed by Section 27388.1 of the Government Code, and shall resume collection of those fees only upon notice that the moneys derived from
fees collected pursuant to Section 23788.1 of the Government Code are being allocated by the state only for a purpose authorized by Section 50470.