Assembly Constitutional Amendment 1 (Aguiar-Curry), a reintroduction of the similarly-numbered measure from previous years from the same author, has been set for its first policy committee hearing July 12 at 9:30 a.m. This meeting of the Assembly Local Government Committee comes following the ascension of Assembly Member Robert Rivas to the Assembly Speakership, who then elevated Assembly Member Juan Carrillo to the position of Chair of the Assembly Local Government Committee. Assembly Member Aguiar-Curry, who previously held the position, was elevated to leadership as Speaker pro Tempore, replacing Assembly Member Chris Ward in that position.
Assembly Constitutional Amendment 1 (ACA 1) will provide mechanisms for cities, counties, and special districts to have a viable financing tool to help address important community needs for affordable housing and public infrastructure. If passed by two-thirds of the California Legislature, ACA 1 would propose to the voters of California an amendment to the California Constitution that would create a new 55% voter threshold for local agencies to incur bonded indebtedness for the purpose of financing the construction, reconstruction, rehabilitation, or replacement of public infrastructure, affordable housing, or permanent supportive housing for persons at risk of chronic homelessness, including persons with mental illness, or the acquisition or lease of real property for those same purposes.
As the measure would provide assistance to local agencies facing numerous challenges in acquiring the necessary financing to address community needs, CSDA has chosen to support Assembly Constitutional Amendment 1 and encourages its members to demonstrate their support for ACA 1. CSDA has submitted a letter of support to the Assembly Local Government Committee to officially convey its support, and will keep members apprised of developments related to ACA 1.
#BondsandFinancings
#Revenue#AdvocacyNews
#AdvocacyNews
#FeatureNews