July 14, 2017 -- A bill authored by Assembly Member Richard Bloom (D-Santa Monica) that would channel more money to local governments to finance construction of affordable housing cleared a hurdle Wednesday.

AB 1568 -- which passed out of the Senate Governance and Finance Committee on a 5-to-1 vote -- allows local jurisdictions to use any increase of receipts for local sales and use taxes to finance affordable housing.

If enacted, the “Neighborhood Infill Finance and Transit Improvements Act” would require local governments to use 20 percent of the bounty for housing for extremely low- to moderate-income earners.

Read More:  https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2017/July-2017/07_14_2017_Affordable_Housing_Bill_by_Santa_Monica_Lawmaker_Clears_Hurdle.html