The California Governor, State Assembly, and Senate introduced the Veterans and Affordable Housing Bond Act of 2026, a $11.25 billion investment to support veterans’ homeownership, housing development and affordability. The bill will be placed on the November 2026 ballot for voters to decide whether to adopt it.
This statewide piece of legislation comes after a major federal investment in housing development, the 21st Century Road to Housing Act, passed by the House and Senate.
In California, the bond is expected to invest in veterans and first-time homebuyers by providing down payment assistance and affordable mortgage financing. Specifically, $1.25 billion is allocated to the self-supporting revenue bonds for the CalVet Home Loan Program.
“California has been building toward this moment. We’ve cut red tape, fast-tracked construction, protected renters,” said Speaker of the Assembly Robert Rivas. “And now, we’re going bigger: $11.25 billion for affordable housing to expand homeownership for veterans and working families, drive down costs and prove that the door to opportunity is open to everyone. This is California delivering.”
