Affordable Housing Bond Act Moves Toward November Ballot

Today the Affordable Housing Bond Act (SB 417) passed the Assembly Housing and Community Development Committee.  Next up, it moves to the Assembly Appropriations Committee. 

 The idea is simple: California already has thousands of affordable housing projects approved and partly funded — about 40,000 units statewide — but they’re stuck waiting for the final portion of state funding. The bill, written by Senator Christopher Cabaldon, aims to put a $10 billion housing bond on the November 2026 ballot, giving those projects the last push they need to start building.

 “California can’t afford to let thousands of ready‑to‑build homes sit idle. This bond gives us a straightforward way to turn approved plans into real places for people to live,” said Senator Christopher Cabaldon. “At the end of the day, this measure puts the decision where it belongs, in the hands of Californians. If voters want more affordable housing, this bond gives us the means to deliver it.”

 If voters approve it, the Affordable Housing Bond Act of 2026 would go into effect right away.