Veterans Housing and Homeless Prevention Bond Act of 2014.
OFFICIAL TITLE AND SUMMARY
PREPARED BY THE ATTORNEY GENERAL
VETERANS HOUSING AND HOMELESS PREVENTION BOND ACT OF 2014.
- Authorizes $600 million in general obligation bonds for affordable multifamily supportive housing to relieve homelessness, affordable transitional housing, affordable rental housing, or related facilities for veterans and their families.
- Provides funding for programs to address homeless veterans and those at risk of becoming homeless and annual evaluations of the effectiveness of housing programs funded by the bonds.
- Appropriates money from General Fund to pay off bonds.
Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:
- Increased state bond repayment costs averaging about $50 million annually over 15 years.
State Bond Cost Estimates
|Average annual cost to pay off bonds
|Likely repayment period
|Source of repayment
||General tax revenues
FINAL VOTES CAST BY THE LEGISLATURE ON AB 639 (PROPOSITION 41)
(Chapter 727, Statutes of 2013)