Sept 21, 2024
Housing advocates including the National Housing Law Project, the California Housing Partnership, and the California Rural Legal Assistance Foundation this week applauded Governor Newsom for signing a bill into law that will help protect affordable housing for poor and working tenants across California. Assembly Bill (AB) 2926 will help preserve affordable housing by shifting how properties are sold.
Under the new law, when an affordable housing property goes up for sale, buyers intent on maintaining the property’s affordability will be prioritized over buyers who would likely displace low-income tenants by converting their homes to market rate.