California Gov. Gavin Newsom has signed the Veterans and Affordable Housing Bond Act of 2026 following a three-party agreement among Newsom, the state Assembly and the state Senate. The $11.25 billion bond set for the November ballot would continue to fast-track the construction, rehabilitation, and preservation of affordable housing, support homeownership programs, and provide funding for a variety of state housing initiatives.
“With the signing of SB 417, we are giving voters the power to help shape the future of housing in our state,” Newsom said. “This bond is about building communities, expanding access and affordability in California, where every family has a fair shot at a place to call home.”
If approved by voters, the bond would provide funding for affordable housing and homeownership programs. It also includes funding to support veterans’ homeownership, affordable rental housing, homeownership assistance, farmworker housing, housing and infrastructure for tribal communities, student housing and other state housing programs.
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