California Governor Gavin Newsom signed the Veterans and Affordable Housing Bond Act of 2026 on Thursday, giving Californians the opportunity to help accelerate housing production, homeownership and affordability in the Golden State.
The $11.25 billion bond set for the November ballot would continue to fast-track the construction, rehabilitation, and preservation of affordable housing, support homeownership programs, and provide funding for a variety of state housing initiatives.
Earlier in the week, Newsom, the California State Assembly, and the California State Senate announced a three-party agreement to place before California voters a proposed affordable housing and homeownership bond that would fund housing construction, preserve affordable housing, and expand homeownership opportunities.
Senate Bill 417, the $11.25 billion Veterans and Affordable Housing Bond Act of 2026, passed the California legislature, was signed by the governor, and will now be placed on the November ballot.
State leaders had to act swiftly this week to ensure the bond would appear on the ballot ahead of the June 25 deadline to finalize ballot measures.
The housing affordability bond includes:
California leaders expect the bond to help more than 40,000 Californians purchase a home, support the creation or preservation of tens of thousands of affordable homes, and support tens of thousands of high paying construction jobs.
Governor Newsom, Assembly Speaker Robert Rivas, and Senate President Pro Tempore Monique Limón, Assemblymember Buffy Wicks, and Senator Christopher Cabaldon all expressed support of the bond in a press release.
California’s Credit Unions submitted a letter to the legislature supporting the bond.
For questions, please contact Robert Wilson.
