SB3 Veterans and Affordable Bond Act of 2018

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2017 California Senate Bill SB 3, the Veterans and Affordable Bond Act of 2018, was introduced by Senator Beall  (D-San Jose) on December 5, 2016, passed the California State Senate on September 15, 2017 and the legislation was enrolled on September 19, 2017 during the California Legislatures 2017-2018 Regular Session.

The SB 2  bill text, history, votes, etc. are available via the governmental California Legislative Information website

SB 3 is a $4 billion bond measure that targets homelessness and specifically homeless veterans as a vulnerable group within California's population in need of affordable housing accommodation. The bill specifically highlighted that the state has "the largest number of veterans experiencing homelessness, at 11,311 or 24 percent of the national homeless veteran population." SB 3 sets out dedicated set-aside  funding (from state issued bonds) to address affordable housing for veterans (specifically through low-interest loans). The legislation also calls for infill development.

 

References

 SB 3 Veterans and Affordable Bond Act of 2018

Los Angeles Times. "Editorial: Don't Let California's Housing Crisis Get Worse. Lawmakers Need to Act on these Bills," 4 Sept. 2017