Proposition Summary

CALIFORNIA HOUSING AND JOBS INVESTMENT BOND ACT. $185 MILLION LEGISLATIVE BOND ACT. • This act establishes a comprehensive program to address the severe housing crisis in California by authorizing the issuance of bonds, requires the proceeds of the bonds to be deposited into the California Housing Loan Insurance Fund for the purpose of providing mortgage guaranty insurance for low and moderate income first-time home buyers pursuant to Part 4 (commencing with Section 51600) of Division 31 of the Health and Safety Code, and requires the repayment of General Fund costs from program revenues in excess of required program costs and reserves.

Proposition Number




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Legislative Vote Results

Final Votes Cast by the Legislature on AB 215 (Proposition 173) Assembly-Ayes, 65; Noes, 7 -- Senate- Ayes, 25; Noes, 5

Popular Vote Results

Y: 2037804; A: 42.1; N: 2791573; B: 57.8

Election Type

Special Election

Proposition Type

Bond Act (leg)

For Author

Ray Remy, President, Los Angeles Area Chamber of Commerce; Willie L. Brown, Jr., Speaker, California State Assembly; John F. Henning, Executive Secretary-Treasurer, California Labor Federation, AFL-CIO

Against Author

Ted Brown, Chairman, Libertarian Party of Los Angeles County; Richard Rider, Financial Consultant; Richard Burns, Attorney at Law

Rebuttal Author

Ted Brown, Chairman, Libertarian Party of Los Angeles County; Thomas Tryon, Calaveras County Supervisor; Aaron Starr, Certified Public Accountant

Rebuttal Against Author

Jack Kyser, Chief Economist, Economic Development Corporation; Paul V. Horcher, Member, California State Assembly, 60th District; D. R. Randy Schwartz, President, California Mortgage Bankers Association