California Health and Safety Code

§ 50611

HSC § 50611 Effective Jan 1, 2024Div. 31 · Part 2 · Ch. 5.6

Statute text

(a)The Legislature finds and declares all of the following:

(1)The private housing market has failed to meet the needs of the vast majority of California residents, who are unable to afford market rents. Increasingly, housing speculation and financialization in the rental market is driving rents higher, even as new market-rate housing is produced. Today, more than one-quarter of California renters are severely rent burdened, meaning they spend over one-half of their income on rent alone, and the unaffordability of rents is a major driver of homelessness.

(2)It is the goal of the state, as reflected in its Regional Housing Need Determination for the sixth Regional Housing Needs Assessment (RHNA) cycle, to create 2,500,000 new housing units, of which at least 1,000,000 must be affordable to households with low, very low, and extremely low incomes and of which an additional 400,000 must be affordable to households of moderate incomes. Together, housing affordable to lower and moderate households accounts for 58 percent of the overall projected housing need.

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Legislative history

Added by Stats. 2023, Ch. 402, Sec. 1. (SB 555) Effective January 1, 2024.