- within Real Estate and Construction topic(s)
- in United States
- with readers working within the Insurance and Property industries
- within Real Estate and Construction, Corporate/Commercial Law and Energy and Natural Resources topic(s)
Focus
Congress passes the largest housing affordability bill in decades — and Trump cancels the signing
NPR – June 24
The bill, called the 21st Century Road to Housing Act, passed 358-32 in the House. The Senate approved it last Monday with similarly overwhelming bipartisan support. But that unity was threatened Wednesday morning when President Trump abruptly cancelled a signing ceremony for the bill unless Congress passes a strict voter ID bill called the Save America Act. The bill is a hodgepodge of provisions designed to either encourage housing construction or make it easier for home seekers to buy. The flashiest part of the package is a ban that prevents large institutional investors that own at least 350 single-family homes (as defined) from buying up more single-family homes to rent out. The related provisions were one of the most contested as the bill worked its way through the legislative process.
See our prior legal alert on the controversial version of the bill passed by the Senate in March. The bill was subsequently amended, and the final version routed to the President includes, among other things, an exception for large institutional investor build-to-rent projects (as an excepted purchase). If the President does not sign a bill within ten days of presentment (excluding Sundays) while Congress is in session, the bill automatically becomes law. Our office will publish an updated legal alert on the bill if and when it becomes law.
News
California voters to weigh $11.25 billion affordable housing bond
Courthouse News Service – June 22
California voters will decide this November whether to approve an $11.25 billion housing affordability bond. Governor Gavin Newsom and top lawmakers in both legislative chambers touted the Veterans and Affordable Housing Bond Act of 2026, which they said will help fund construction, keep affordable housing in place, and expand homeownership. Of the $11.25 billion package, $10 billion in general obligation bonds would fund the construction, purchase, and rehabilitation of affordable housing for lower-income residents.
Los Angeles tries again to phase out urban oil production
Los Angeles Times – June 23
The Los Angeles City Council last Tuesday unanimously advanced an ordinance to halt new oil and gas drilling and phase out all existing production over the next 20 years in the city, which is home to more than 2,000 active oil wells. The new ordinance, written by the Department of City Planning, prohibits new oil and gas extraction, including drilling, redrilling, or deepening existing oil wells for the purposes of production and must pass a second vote before final adoption later this summer.
Recall that under AB 2011, the proposed housing cannot be located within 3,200 feet of a facility that actively extracts or refines oil or natural gas. Therefore, the phasing out of those facilities in Los Angeles would mean that more sites should qualify for streamlined ministerial (i.e., no CEQA) approval under AB 2011. Please see our prior legal alert on AB 2011, as recently amended by AB 2243.
California Assembly committee advances bill to reinstate environmental review for industry exemptions
Davis Vanguard – June 23
The California Assembly Natural Resources Committee on Tuesday advanced Senate Bill (SB) 954, legislation aimed at restoring environmental review requirements for a range of industrial facilities that were exempted from review under legislation approved last year. The measure would narrow exemptions created by SB 131, which supporters say allowed more than 75 categories of industrial facilities to bypass environmental review and public disclosure requirements under CEQA.
Please see our recent legal alert on other pending state laws.
Measure ULA tax could see nearly 75% haircut under new state bill
The Real Deal – June 23
Los Angeles’ polarizing Measure ULA transfer tax could see a reduction by nearly 75 percent if a new state bill gets approval from both chambers and the governor’s signature. On Monday, the California State Senate shared its version of Assembly Bill 736, a new piece of legislation that would impose a 1.5 percent transfer tax rate statewide. If passed by the legislature and signed into law, the new requirements would be a state-mandated local program, overriding local transfer tax legislation.
After delays, San Diego County is now mandating low-income housing units
The San Diego Union-Tribune – June 25
Five years ago, the San Diego County Board of Supervisors first called for new affordable housing mandates that are common in California’s other major communities and supported by housing advocates. After years of delay and study, the new requirements are now becoming a reality, after passing on a 4-1 Board of Supervisors vote last Wednesday. Housing developments in the county’s unincorporated communities now have to include a certain percentage of units for people with low incomes, rules known as an “inclusionary housing policy.”
Palo Alto rewrites retail rules as it battles downtown vacancies
Palo Alto Online – June 24
The Palo Alto City Council voted on June 15 to expand the types of uses allowable in the city’s primary commercial areas, seeking to reduce vacancies. The new ordinance streamlines parking requirements and permit approvals, removes overlapping regulations from the code, and expands the list of allowed uses.
*This article may require a subscription to read.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
[View Source]
