A California bill that seeks to simplify the home-buying process for migrants experiences significant progress.
A key Senate committee passed Assemblymember Joaquin Arambula of Fresno's legislation.
This week, a bill was advanced by a key California Senate committee that enables migrants and illegal immigrants to utilize a program designed to expand the number of individuals who can become homeowners.
The "Dream For All" shared-appreciation loan program is marketed by the state as a down-payment aid initiative for first-time homebuyers.
Upon the sale or transfer of the home by the qualified owner, the homebuyer is required to repay the original loan's down payment, along with a portion of the home's value appreciation, as per the guidelines of the California Housing Finance Agency (CALHFA).
The Senate Appropriations Committee passed a bill by a 5-2 vote that prohibits disqualifying an applicant for "Dream For All" based on their immigration status.
The bill allows foreign-born individuals to purchase homes in the U.S. without a Social Security number, using an individual tax identification number, and its author stated that it offers the benefits of homeownership to everyone.
Democratic Assemblymember Joaquin Arambula stated that undocumented individuals who are excluded from programs miss out on a vital way to secure financial stability and personal security for themselves and their families.
The state Senate and Gov. Gavin Newsom's signature are all that is needed for Arambula's bill to become law, as it has already passed the state assembly.
Earlier this year, the Sacramento Bee reported that the "Dream For All" program may have "worked too well."
A housing agency spokesperson announced that it will replace its first-come-first-serve model with a lottery after $300 million in loans were claimed in less than two weeks.
At that time, Eric Johnson of CALHFA stated that it was crucial to ensure that the funds for this round were distributed fairly.
The analysis by The Bee revealed that the bill, similar to other legislative initiatives, would not reduce California's budget deficit.
Assemblymember James Gallagher, the top Republican in the state assembly, did not respond to Planet Chronicle Digital's request for minority party reaction by press time.
Earlier this year, state Sen. Brian Dahle, a Republican, labeled the bill an "insult to California citizens who are already struggling with homeownership affordability."
"Prioritize individuals who are legally residing in our state."
politics
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