AB 590: Social Housing Bond Act of 2026.

The bill aims to provide funding for social housing programs through the issuance and sale of state bonds. It would authorize the creation of the California Housing Authority to oversee the development and acquisition of social housing projects that align with specified goals. The authority would issue bonds to fund these projects and utilize funds from other sources to build low, very low, and extremely low income housing. A revolving loan fund would be established to provide zero-interest loans for constructing housing to accommodate a mix of household incomes. The bill would submit the bond act to voters at the 2026 statewide general election, and it would take effect immediately as an urgency statute.