In 2017, Governor Brown signed a 15-bill housing package aimed at addressing the state’s housing shortage and high housing costs. Specifically, it included the Building Homes and Jobs Act (SB 2, 2017), which established a $75 recording fee on real estate documents to increase the supply of affordable homes in California.
Because the number of real estate transactions recorded in each county will vary from year to year, the revenues collected will fluctuate. The chart below shows how revenues will be allocated.
| When | PLHA — 70% of Funding | Other State Administered Programs — 30% of Funding |
|---|---|---|
| 2019 and Beyond | Locally Administered Affordable Housing | 15% mixed-income multifamily rental housing 5% production incentive program 10% farmworker housing |
Funding will help cities and counties:
- Increase the supply of housing for households at or below 60% of area median income
- Increase assistance to affordable owner-occupied workforce housing
- Assist persons experiencing or at risk of homelessness
- Facilitate housing affordability, particularly for lower- and moderate-income households
- Promote projects and programs to meet the local government's unmet share of regional housing needs allocation
- Ensure geographic equity in the distribution of the funds