{"code":"HSC","codeName":"Health and Safety Code","section":"50009","citation":"Health & Saf. Code, § 50009","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 31. HOUSING AND HOME FINANCE [50000. - 54949.]","url":"https://blackletter.si/health-and-safety-code/division-31"},{"name":"PART 1. STATE HOUSING POLICY AND GENERAL PROVISIONS [50000. - 50300.]","url":"https://blackletter.si/health-and-safety-code/division-31/part-1"},{"name":"CHAPTER 1. Legislative Findings and Declarations [50000. - 50010.]","url":"https://blackletter.si/health-and-safety-code/division-31/part-1/chapter-1"}],"history":"Added by Stats. 1983, Ch. 323, Sec. 60.28.   Effective July 1, 1983.","effective":"1983-07-01","html":"<p>The Legislature finds and declares that the utilization of tax-exempt mortgage revenue bonds can, and should, encourage the production of housing units affordable to low- and moderate-income persons and families. The Legislature further finds and declares that as a result of recent bond interest rates at historically high levels, tax-exempt mortgage revenue bond programs may not be able to provide housing affordable to low- and moderate-income persons and families, without an additional subsidy. The Legislature further finds and declares that the effectiveness of tax-exempt mortgage revenue bonds in reducing the housing costs of low- and moderate-income persons and families should be carefully monitored by the Legislature to permit an assessment of the costs and benefits of this financing mechanism.</p>","text":"The Legislature finds and declares that the utilization of tax-exempt mortgage revenue bonds can, and should, encourage the production of housing units affordable to low- and moderate-income persons and families. The Legislature further finds and declares that as a result of recent bond interest rates at historically high levels, tax-exempt mortgage revenue bond programs may not be able to provide housing affordable to low- and moderate-income persons and families, without an additional subsidy. The Legislature further finds and declares that the effectiveness of tax-exempt mortgage revenue bonds in reducing the housing costs of low- and moderate-income persons and families should be carefully monitored by the Legislature to permit an assessment of the costs and benefits of this financing mechanism.","otherVersions":[],"url":"https://blackletter.si/health-and-safety-code/legislative-findings-and-declarations-50009","source":"California Legislative Information bulk export (pubinfo)"}