California Health and Safety Code

§ 51600

HSC § 51600 Effective Jul 15, 1993Div. 31 · Part 4 · Ch. 1

Statute text

The Legislature finds and declares as follows:

(a)For reasons of prudent investment policy, California’s public and private lending institutions are not making mortgage financing available for certain single- and multifamily residential housing occupied or intended to be occupied by substantial numbers of persons and families of low and moderate income because of the perceived risks these loans entail. The absence of this financing has also caused and contributed to the deterioration of residential neighborhoods, has inhibited government in its attempts to arrest and reverse deterioration through local code enforcement programs, and has generally reduced or limited the supply of safe, decent, and sanitary housing available to persons and families of low and moderate income.

(b)The absence of financing has resulted in persons and families who are not able to realize financial security through equity accumulation and psychological security through a sense of permanence and control over the direction of their lives, as well as a lack of job creation linked to housing construction or the sale of existing housing.

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Legislative history

Repealed and added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.