California: Governor Newsom signs historic housing bond set for voters on the November ballot

~ SACRAMENTO - In a historic move, Governor Gavin Newsom signed the Veterans and Affordable Housing Bond Act of 2026 today, paving the way for Californians to vote on an $11.25 billion housing bond in the upcoming November election. This bond aims to accelerate housing production, increase homeownership opportunities, and improve affordability in the Golden State.

Joined by state legislators, Governor Newsom expressed his commitment to addressing the housing crisis in California. "In California, we don't turn away from the needs of our people - we meet them head-on," he stated. "With the signing of SB 417, we are giving voters the power to help shape the future of housing in our state. This bond is about building communities and expanding access and affordability for all Californians."

The bond will continue to fast-track affordable housing construction, rehabilitation, and preservation efforts. It will also provide funding for various state housing initiatives and support homeownership programs.

In addition to signing SB 417, Governor Newsom also announced that he has signed SB 623 by Senator Tom Umberg (D-Santa Ana). This bill addresses civil actions related to automobile accidents involving transportation network companies.

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This news comes on the heels of another major announcement from Governor Newsom - $227 million in Proposition 64 grants to combat illicit cannabis activity and protect California communities. These grants will support public safety efforts, youth prevention programs, public health initiatives, and address environmental harms caused by illegal cannabis operations.

Furthermore, California has become the first state to launch a tool that tracks and monitors artificial intelligence's impact on the workforce. As part of Governor Newsom's executive order on AI and the workforce, this online tracking tool will help detect job loss related to AI technology.

State, local, and federal leaders have expressed their gratitude for these resources that will continue to aid Los Angeles fire survivors. Following a critical FEMA extension approval by Governor Newsom, these leaders have voiced their strong support for the continued assistance provided to those affected by the fires in Los Angeles, Malibu, and Pasadena.

With these recent developments, Governor Newsom continues to prioritize the well-being and prosperity of Californians. The housing bond set for the November ballot and the various initiatives and grants announced demonstrate his commitment to addressing pressing issues in the state.

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