California’s Stable Affordable Housing Act One Step Closer to Becoming Law
A proposal that would change the way California approaches affordable housing is receiving broad support from Democratic lawmakers and is now closer to reaching the governor’s desk after passing the Senate.
Introduced by Senator Aisha Wahab (D-Hayward), Senate Bill 555, also known as the Stable Affordable Housing Act of 2023, proposes a 10-year goal of creating 1.2 million units of social housing through a combination of acquisition and new development, with half of the units created within 5 years and at least one-third of those affordable for what are described as extremely and very low-income households.
“We need a multi-faceted approach to the ongoing housing affordability and homelessness crises, and SB 555 is just that,” Wahab told The Epoch Times in an email June 19. “With the overall impact being an increase in the number of permanently affordable units available to lower-income residents.”…