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.
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
Bond Act (leg)
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
Ted Brown, Chairman, Libertarian Party of Los Angeles County; Richard Rider, Financial Consultant; Richard Burns, Attorney at Law
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
California Housing and Jobs Investment Bond Act. $185 Million Legislative Bond Act. California Proposition 173 (1993).