Jerry Brown and legislative leaders agreed late Monday to a $4-billion bond aimed at the 2018 ballot that would fund low-income housing developments and subsidize home loans for California veterans. "The bond agreement we have reached provides badly needed funding to help Californians, including our veterans, find safe, affordable housing," Assembly Speaker Anthony Rendon (D-Paramount) said in a statement announcing the deal. The bond measure, Senate Bill 3, is one of three key bills designed to increase state spending on low-income housing and ease local restrictions on home building. Monday's decision is another step toward an agreement between the governor and lawmakers on a final housing deal. SB 2 and 3 and a water and parks bond all need two-thirds supermajority approval in both houses of the Legislature.

Source: Los Angeles Times August 29, 2017 01:35 UTC