{"id":391797,"date":"2026-07-09T08:52:38","date_gmt":"2026-07-09T08:52:38","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/391797\/"},"modified":"2026-07-09T08:52:38","modified_gmt":"2026-07-09T08:52:38","slug":"what-is-proposition-1-before-california-voters-in-the-2026-election-the-mercury-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/391797\/","title":{"rendered":"What is Proposition 1 before California voters in the 2026 election? \u2013 The Mercury News"},"content":{"rendered":"<p>The Veterans and Affordable Housing Bond Act of 2026 is a proposed $11.25 billion affordable housing bond measure to help not only people who have served in the military but also other low- and moderate-income households.<\/p>\n<p><a href=\"https:\/\/elections.cdn.sos.ca.gov\/ballot-measures\/pdf\/sb-417.pdf\" target=\"_blank\" rel=\"noopener nofollow\">Proposition 1<\/a> would authorize the issuance and sale of general obligation bonds to fund affordable housing and home ownership programs, speed up housing production and preserve <a href=\"https:\/\/www.dailynews.com\/tag\/affordable-housing\/\" target=\"_blank\" rel=\"noopener nofollow\">affordable housing<\/a>.<\/p>\n<p>Specifically, $1.25 billion would go to the CalVet Home Loan Program. These bonds would be repaid through mortgage payments and, therefore, would not cost regular taxpayers money.<\/p>\n<p>Another $10 billion would fund other affordable housing projects, including the construction, rehabilitation, acquisition or preservation of housing units, and provide for affordable rental housing as well as interim and supportive housing for people facing <a href=\"https:\/\/www.dailynews.com\/tag\/homeless\/\" target=\"_blank\" rel=\"noopener nofollow\">homelessness<\/a>.<\/p>\n<p>Targeted investments would be made to help Californians with the greatest housing needs, including farmworkers, tribal communities, college students, homeless and at-risk youth, lower-income households and moderate-income first-time homebuyers.<\/p>\n<p>The proposal was hammered out between Gov. <a href=\"https:\/\/www.dailynews.com\/tag\/gavin-newsom\/\" target=\"_blank\" rel=\"noopener nofollow\">Gavin Newsom<\/a> and Democratic legislative leaders during <a href=\"https:\/\/www.ocregister.com\/2026\/06\/26\/gov-newsom-california-lawmakers-reach-a-deal-on-states-350b-budget-a-quick-snapshot-of-what-that-entails\/\" target=\"_blank\" rel=\"noopener nofollow\">this year\u2019s budget negotiations<\/a>.<\/p>\n<p><a href=\"https:\/\/www.gov.ca.gov\/2026\/06\/22\/california-leaders-announce-historic-veterans-and-affordable-housing-bond-act-of-2026-to-expand-homeownership-and-build-affordable-housing-for-generations-of-californians\/\" target=\"_blank\" rel=\"noopener nofollow\">According to the governor\u2019s office<\/a>, the bond would provide down payment assistance, affordable mortgage financing and other supports that would enable over 40,000 Californians to become homeowners.<\/p>\n<p>In addition, the measure would result in the creation or preservation of tens of thousands of affordable homes, as well as tens of thousands of high-paying construction jobs, according to Newsom\u2019s office.<\/p>\n<p>According to an analysis of <a href=\"https:\/\/leginfo.legislature.ca.gov\/faces\/billTextClient.xhtml?bill_id=202520260SB417\" target=\"_blank\" rel=\"noopener nofollow\">a bill<\/a> introduced by Senate President Pro Tem Monique Lim\u00f3n, D-Santa Barbara, to place Proposition 1 on the November statewide ballot, the total cost, including principal and interest, to taxpayers for the $10 billion portion of Proposition 1 that would not go toward the CalVet program is estimated to be $17.39 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"The Veterans and Affordable Housing Bond Act of 2026 is a proposed $11.25 billion affordable housing bond measure&hellip;\n","protected":false},"author":2,"featured_media":391798,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[1400,380,7,5307,9,8,400,204,1336,1703,1338,100,13,513],"class_list":["post-391797","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-2026-elections","tag-affordable-housing","tag-california","tag-california-ballot-measures","tag-california-headlines","tag-california-news","tag-california-politics","tag-election","tag-housing-crisis","tag-military","tag-morning-wire","tag-news","tag-politics","tag-veterans"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/391797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=391797"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/391797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/391798"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=391797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=391797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=391797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}