CHAPTER 12. California Dream for All Program

Chapter 12 added by Stats. 2022, Ch. 70, Sec. 43.

§§ 51520–51529 · 11 sections

• § 51520 This chapter shall be known, and may be cited, as the California Dream for All Program.
• § 51521 The Legislature finds and declares all of the following: (a) Housing prices in California have risen dramatically in all parts of the state in the past decade,…
• § 51522 For the purposes of this chapter: (a) “First-time homebuyer” has the same meaning as defined in Section 50068.5. (b) “Fund” means the California Dream for All…
• § 51523 (a) The California Dream for All Program is hereby established to provide shared appreciation loans to qualified first-time homebuyers. The program shall be…
• § 51524 (a) (1) There is hereby established in the State Treasury the California Dream for All Fund. (2) Notwithstanding Section 13340 of the Government Code, all…
• § 51525 The state and the agency shall not be liable beyond the assets of the fund for any obligation in connection therewith.
• § 51526 (a) The agency shall, on or before January 10, 2023, and annually thereafter, furnish a report to the Legislature providing details of program implementation,…
• § 51526.1 (a) The agency, in consultation with the staff of the Legislative Analyst’s Office, the Senate Committees on Banking and Financial Institutions, Budget and…
• § 51527 (a) (1) The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand…
• § 51528 (a) The agency shall evaluate options to finance the program with one billion dollars ($1,000,000,000) to two billion dollars ($2,000,000,000) annually.…
• § 51529 Prior to the disbursement of the remainder of funding for the program appropriated in the 2022 Budget Act, and prior to the disbursement of any funding for the…