SENATE RULES COMMITTEE
Office of Senate Floor Analyses
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AB 1840
THIRD READING
Bill No: AB 1840
Author: Arambula (D)
Amended: 8/15/24 In Senate
Vote: 21
SENATE HOUSING COMMITTEE: 7-3, 6/18/24
AYES: Skinner, Caballero, Cortese, Menjivar, Padilla, Umberg, Wahab
NOES: Ochoa Bogh, Blakespear, Seyarto
SENATE JUDICIARY COMMITTEE: 9-2, 7/2/24
AYES: Umberg, Allen, Ashby, Caballero, Durazo, Laird, Roth, Stern, Wahab
NOES: Wilk, Niello
SENATE APPROPRIATIONS COMMITTEE: 5-2, 8/15/24
AYES: Caballero, Ashby, Becker, Bradford, Wahab
NOES: Jones, Seyarto
ASSEMBLY FLOOR: 56-15, 5/21/24 - See last page for vote
SUBJECT: Home Purchase Assistance Program: eligibility
SOURCE: Coalition for Humane Immigrant Rights
DIGEST: This bill prohibits disqualification of an applicant to one of the
California Housing Finance Authority’s (CalHFA’s) home purchase assistance
programs solely on the basis of the applicant’s immigration status.
ANALYSIS:
Existing law:
1) Establishes authority for CalHFA implement home purchase assistance
programs and directs CalHFA to prioritize using funds to assist first-time
homebuyers.
AB 1840
Page 2
2) Requires CalHFA to adopt policies, rules, and regulations to achieve all of the
following:
a) Provide assistance to meaningfully expand access to homeownership.
b) Expand opportunities for California households to accumulate wealth for
themselves and their families, including ensuring that design of the loan
product is not an unreasonable impediment to homeowner wealth creation.
c) Maximize the number of households assisted over time by exploring and
implementing methods for selling subordinate second mortgages to generate
additional funding for the program.
d) Establish a revolving, shared appreciation first-time homebuyer program
with the goal of eventually providing up to $1 billion per year for first-time
homebuyers.
e) Provide adequate consumer protection and consumer disclosure protections.