AgdaPkt 2020-04-27 Joint SA PFA - Laserfiche WebLink

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6.E. - Page 9 of 12 AB 2852 1 substantially less than the term of that lease, the same property 2 that is the subject of the transaction. 3 (c) (1) The financing proceeds obtained by the school district 4 pursuant to the transaction described in this section are expended 5 solely for capital outlay purposes, including the acquisition of real 6 property for intended use as a schoolsite and the construction, 7 reconstruction, and renovation of school facilities. 8 (2) For purposes of this section, the construction, reconstruction, 9 or renovation of rental housing facilities for school district 10 employees constitutes a permissible capital outlay expenditure of 11 the financing proceeds obtained by the school district. A school 12 district may make units in a rental housing facility that is 13 constructed, reconstructed, or renovated with financingproceeds, 14 as described in this paragraph, available to employees of other 15 school districts, community college districts, cities, counties, cities and counties, charter cities, charter counties, charter cities and counties, and 16 special districts. 17 SEC. 2. Section 50035 is added to the Government Code, to 18 read: 19 50035. (a) To the extent permitted by any other applicable law, a 20 local agency that offers affordable rental housing 21 for its employees that is financed by federal or state funds or tax 22 credits, including, but not limited to, an allocation of federal 23 low-income housing tax credits pursuant to Section 42 of the 24 Internal Revenue Code, may restrict occupancy in that affordable 25 rental housing to its own employees. Notwithstanding the previous 26 sentence, a local agency that restricts occupancy 27 in affordable rental housing to its own employees may allow 28 employees of another local agency, school district, or community college district to also occupy 30 that housing. (b) For purposes of this section, "local agency" means a city, county, city and county, charter city, charter county, charter city and county, special district, or any combination thereof. 31 SEC. 3. Section 53571 of the Health and Safety Code is 32 amended to read: 33 53571. (a) The purpose of this part is to facilitate the 34 acquisition, construction, rehabilitation, and preservation of 35 affordable rental housing for teachers and school district employees and local public employees 36 to allow such employees to access and 37 maintain housing stability. 38 (b) A program established under this part shall be restricted to 39 "teacher or school district employees." employees" or "local public employees. " 4 SEC. 4. Section 53572 of the Health and Safety Code is amended to read: As used in this part: (a) "Affordable rental housing" means a rental housing development, as defined in subdivision (d) of Section 50675.2, with a majority of its rents restricted to levels that are affordable to persons and families of low or moderate income, as defined in Section 50093, but neither 97