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E1D64C0A88DD787487258A23006DE7A1 Hearing Summary




PUBLIC
BILL SUMMARY For UPDATE ON PROPOSITION 123

INTERIM COMMITTEE  LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Sep 7, 2023      
Location HCR 0112



Update on Proposition 123 - Committee Discussion Only
02:00:30 PM  
Ms. Alison George
and Mr. Maulid Miskell, representing the Department of Local Affairs (DOLA),
presented on the implementation on Proposition 123. Their presentation
may be found in Attachment C.
02:04:52 PM  
Mr. Miskell discussed commitment options and requirements as well as policies and guidelines timeline.
02:12:31 PM  
Ms. George continued
by discussing the funding for the Affordable Housing Support Fund and their
homeownership programs.
02:13:27 PM  
Ms. George continued by discussing homelessness and local planning capacity programs.
02:17:39 PM  
Mr. Miskell wrapped up his presentation on DOLA's engagement website.
02:18:08 PM  
In response to committee
questions, Ms. George and Mr. Miskell discussed the administrative costs
of the programs and commitments by local governments.
02:25:17 PM  
Ms. Hilary Cooper,
representing the Office of Economic Development and International Trade
(OEDIT), presented on OEDIT's implementation of Proposition 123. Her presentation
may be found in Attachment D.
02:33:11 PM  
She continued by discussing the Affordable Housing Financing Fund.
02:35:58 PM  
She discussed the three programs administered: land banking, concessionary debt, and equity.
02:39:07 PM  
She continued by discussing the program timelines.
02:48:26 PM  
She continued by discussing several policy decisions related to the fund.
02:48:45 PM  
Mr. Steve Boice, representing CHFA, in response to committee questions, discussed CHFA's role as the administrator of OEDIT's programs.
02:53:11 PM  
Committee discussion ensued.






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