California Health and Safety Code

§ 50406.3

HSC § 50406.3 Effective Jan 1, 2025Div. 31 · Part 2 · Ch. 1

Statute text

(a)Notwithstanding any other law, any funds approved, reserved, or allocated by the department after the effective date of the guidelines required pursuant to subdivision (b) and for purposes of providing a loan under the Multifamily Housing Program (Chapter 6.7 (commencing with Section 50675)), the Joe Serna, Jr. Farmworker Housing Grant Program (Chapter 3.2 (commencing with Section 50515.2)), the Affordable Housing and Sustainable Communities Program (Part 1 (commencing with Section 75200) of Division 44 of the Public Resources Code), or any additional multifamily housing lending program that the department elects, may, at the option of the borrower, be used for any of the following purposes:

(1)Construction financing.

(2)Permanent financing.

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Legislative history

Added by Stats. 2024, Ch. 264, Sec. 1. (AB 1053) Effective January 1, 2025.