Assembly BillVetoedHealth and Safety
AB 57: California Dream for All Program: descendants of formerly enslaved people.
What AB 57 does, verified March 9, 2026
The bill aims to amend the California housing finance agency to provide more opportunities for descendants of formerly enslaved people to access affordable housing. It establishes a certification process for these individuals and requires at least 10% of the California Dream for All Fund to be reserved for applicants who meet the requirements and have been certified as descendants of formerly enslaved people. This provision will become operative only if a separate bill establishing the Bureau for Descendants of American Slavery is enacted and takes effect on or before January 1, 2027.
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Last action: Consideration of Governor's veto stricken from file. (2026-01-22)Alert me
Author and sponsors
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| Jan. 22, 2026 | Consideration of Governor's veto stricken from file. |
| Jan. 22, 2026 | Stricken from file. |
| Oct. 13, 2025 | Consideration of Governor's veto pending. |
| Oct. 13, 2025 | Vetoed by Governor. |
| Sep. 16, 2025 | Enrolled and presented to the Governor at 2 p.m. |
Latest bill textEnrolled version, September 11, 2025 · 820 words
| Enrolled September 11, 2025 |
| Passed IN Senate September 08, 2025 |
| Passed IN Assembly September 09, 2025 |
| Amended IN Senate August 29, 2025 |
| Amended IN Senate June 24, 2025 |
| Amended IN Assembly April 23, 2025 |
| Amended IN Assembly March 27, 2025 |
| Amended IN Assembly March 03, 2025 |
| Amended IN Assembly February 24, 2025 |
CALIFORNIA LEGISLATURE— 2025–2026 REGULAR SESSION
Assembly Bill
No. 57
| Introduced by Assembly Member McKinnor (Coauthors: Assembly Members Bonta, Bryan, Elhawary, Gipson, Jackson, Kalra, Ortega, Ransom, Sharp-Collins, and Wilson) (Coauthors: Senators Richardson, Smallwood-Cuevas, and Weber Pierson) |
December 02, 2024 |
An act to amend Section 51523 of the Health and Safety Code, relating to housing.
LEGISLATIVE COUNSEL'S DIGEST
AB 57, McKinnor. California Dream for All Program: descendants of formerly enslaved people.
Existing law establishes the California Housing Finance Agency in the Department of Housing and Community Development, and authorizes the agency to, among other things, make loans to finance affordable housing, including residential structures, housing developments, multifamily rental housing, special needs housing, and other forms of housing, as specified. Existing law establishes the California Dream for All Program to provide shared appreciation loans to qualified first-time homebuyers, as specified. Existing law establishes in the State Treasury the California Dream for All Fund, which is continuously appropriated for expenditure pursuant to the program, as specified.
This bill would require, upon establishment of the certification process for the descendants of American slavery established by the Bureau for Descendants of American Slavery, at least 10% of the moneys in the fund to be reserved for applicants who meet the requirements for a loan under the program and have been certified as descendants of formerly enslaved people, as specified.
This bill would become operative only if SB 518 of the 2025–26 Regular Session is enacted and takes effect on or before January 1, 2027, and establishes the Bureau for Descendants for American Slavery.
The people of the State of California do enact as follows:
SECTION 1.
Section 51523 of the Health and Safety Code is amended to read:51523.
(a) The California Dream for All Program is hereby established to provide shared appreciation loans to qualified first-time homebuyers. The program shall be limited to providing assistance to low- and moderate-income homebuyers in the purchase of owner-occupied homes. The agency, subject to the availability of funds for the purposes of this chapter, shall implement and administer the California Dream for All Program in accordance with this chapter.(b) (1) In implementing this part, the agency shall adopt policies, rules, and regulations by resolution of the board of directors of the agency and consistent with this part to achieve all of the following:
(A) Provide assistance to meaningfully expand access to home ownership.
(B) Expand opportunities for California households to accumulate wealth for themselves and their families. The agency shall make any necessary program adjustments consistent with the requirements of this chapter, which may include limiting the percentage of appreciation payable under the program, to ensure that design of the loan product is not an unreasonable impediment to homeowner wealth creation.
(C) Maximize the number of households assisted over time by exploring and implementing methods for selling subordinate second mortgages originated pursuant to this chapter to investors in order to generate additional funding for the program.
(D) Establish a revolving, shared appreciation first-time homebuyer program with the goal of eventually providing up to one billion dollars ($1,000,000,000) per year for first-time homebuyers.
(E) The amount of assistance shall only be made available in conjunction with first mortgage loan financing provided by the agency, and funds available pursuant to this chapter shall also be available for interest rate buydowns and closing cost assistance for that first mortgage loan financing. Any funds made available for interest rate buydowns shall be made in conjunction with a shared appreciation loan.
(F) All repayments shall be deposited into the fund for ongoing use in the program.
(G) Sustainability for the agency without significantly adversely affecting its borrowing capacity or ability to meet other affordable housing or agency needs.
(H) Adequate consumer protection and consumer disclosure protections.
(2) Policies, rules, and regulations adopted pursuant to this part shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.
(c) Upon establishment of the certification process for the descendants of American slavery established by the Bureau for Descendants of American Slavery, at least 10 percent of the moneys in the fund shall be reserved for applicants who meet the requirements for a loan under the program and have been certified as descendants of formerly enslaved people by the Bureau for Descendants of American Slavery.
SEC. 2.
This act shall become operative only if Senate Bill 518 of the 2025–26 Regular Session is enacted and takes effect on or before January 1, 2027, and establishes the Bureau for Descendants of American Slavery.Text of AB 57 as enrolled, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions