Despite budget deficit, California bill proposes funds for first-time undocumented homebuyers.
The California Dream for All Program was abruptly halted after only 11 days of operation due to insufficient funds in June this year.
California lawmakers passed a bill on Tuesday that would allow illegal immigrants to apply for financial assistance to purchase their first homes through the state's "California Dream for All" program. AB 1840 requires the California Housing Finance Authority's home purchase assistance program to include undocumented applicants. Despite the program's success in awarding 1,700 first-time homebuyers in June, it ran out of funds just 11 days later, prompting floor debate over funding. A spokesman for California's Department of Finance confirmed that the program has no money left to supply the program.
The bill, which provides first-time homebuyers with up to 20% of a home's value or $150,000 in down payment assistance, has been passed by the California state Assembly. The bill will now go back to the Senate for revisions before being sent to Governor Gavin Newsom for approval. If signed into law, the bill could provide a significant boost to the California Dream for All Program. The bill passed by 12 votes, with Democrats supporting it and Republicans criticizing it. Some Democrats did not vote, and the debate centered on whether undocumented immigrants who apply for the program must pay taxes and provide proof of work.
The California Dream for All Program will not receive any funding this year because of a predicted budget deficit for the 2024-2025 fiscal year. In order to continue the program, both the governor and state legislature must approve of allocating funds in the future.
The 2024 legislative session of California state ends at 11:59 PM on Saturday.
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