$11.25 Billion Bond Measure To Boost Home Construction in California
Plain-English Summary
This measure proposes an $11.25 billion bond to fund affordable housing initiatives and support homeownership for veterans and low-income Californians. It includes $10 billion in general obligation bonds for affordable housing construction and preservation, and $1.25 billion in self-supporting revenue bonds for the CalVet Home Loan Program.
What each outcome does
If the measure passes, the state will issue $11.25 billion in bonds to fund affordable housing projects, provide down payment assistance, and offer low-interest mortgage financing for veterans and other eligible groups. These funds aim to increase housing supply and affordability across California.
If the measure fails, the state will not issue the proposed $11.25 billion in bonds for housing initiatives. This would mean a continuation of current funding levels for affordable housing and veteran home loan programs, potentially exacerbating California's housing shortage and affordability challenges.
Who is funding each side
BallotPulse is non-partisan. We summarize each outcome in plain English and disclose the money on both sides. We do not tell you how to vote. Always read the official ballot text and decide for yourself.