Prop. 41: Veterans Housing
Authorizes $600 million in general obligation bonds for affordable multifamily supportive housing to relieve homelessness, affordable transitional housing, affordable rental housing, or related facilities for veterans and their families.
what your vote means
The state would sell $600 million in general obligation bonds to fund affordable multifamily housing for low-income and homeless veterans.
The state would not sell $600 million in general obligation bonds to fund affordable multifamily housing for low-income and homeless veterans.
Increased state bond repayment costs averaging about $50 million annually over 15 years.
No change from status quo.
Prop. 41, the Veterans Housing and Homeless Prevention Act of 2014, redirects $600 million of previously approved, unspent bond funds to construct and rehabilitate housing for California's large population of homeless veterans. This Act will construct affordable, supportive, and transitional housing for homeless and near homeless veterans without raising taxes.
Proposition 41 would authorize the State to borrow (by selling bonds) $600 million out of $900 million in bonds previously approved by voters in 2008 for use by the CalVet Home and Farm Loan Program. The issue is whether such a diversion of funds is wise.