SB 417: The Veterans and Affordable Housing Bond Act of 2026.

The Affordable Housing Bond Act of 2026 would authorize the issuance of $10 billion in bonds to finance programs that fund affordable rental housing and home ownership, including multifamily housing, CalHome, and farmworker housing. The bond proceeds would be used to support these programs, which provide assistance for emergency housing, home ownership for very low and low-income households, and downpayment assistance for first-time home buyers. The bill would submit the bond act to voters at the November 3, 2026, statewide general election. The measure would take effect immediately, allowing the state to move forward with financing affordable housing initiatives.