(a) No later than December 31, 2026, the department shall complete a California Social Housing Study. The study shall consist of a comprehensive analysis of the opportunities, resources, obstacles, and recommendations for the creation of affordable and social housing at scale, to assist in meeting the need identified in the statewide projections for below market rate housing affordable to households with extremely low, very low, low, and moderate incomes in the sixth Regional Housing Needs Assessment cycle. The department shall enlist in the development of the study broad participation of residents unable to afford market rents and public agencies and mission-driven nonprofit entities. The study shall include both of the following:

(1) An analysis of all of the following:

(A) Funding, public lands, and other resources and opportunities that are, or can be made, available to achieve the goals.

(B) The capacity and capacity building needs of public agencies and mission-driven nonprofit entities to achieve the goals.

(C) Constraints and obstacles to achieving the goals, including capital financing and long-term operations and maintenance needs.

(D) The range of models for creating social housing that are currently in practice, or that public agencies or mission-driven nonprofit entities plan to implement both inside and outside California, including the opportunities, needs, and potential for creating social housing at various income levels specific to each model.

(E) Tenant protections consistent with each model analyzed pursuant to subparagraph (D) that provide long-term stability, including the most protective provisions feasible.

(F) The impacts on job creation and local economies that could be achieved by using locally based, union-represented workforces for construction and maintenance of social housing.

(G) Federal funding, resources, and policy initiatives required to meet the housing needs projected by the sixth Regional Housing Needs Assessment cycle.

(H) Any other subjects the department identifies through the course of preparing this study that would contribute to meeting the housing needs projected by the sixth Regional Housing Needs Assessment cycle.

(2) Recommendations to the state based on the study for all of the following:

(A) Utilizing the funding, public lands, and other resources and opportunities to meet the housing needs projected by the sixth Regional Housing Needs Assessment cycle, to create housing affordable to households with moderate, low, very low, and extremely low incomes, including social housing, in collaboration between public agencies and mission-driven nonprofit entities, with a portion of the goal allocated to each model for creating social housing analyzed pursuant to subparagraph (D) of paragraph (1).

(B) Removing constraints and obstacles to achieving the goals, including constraints on the use of public land and public funding that do not require legislative action.

(C) Making additional resources available, including potential revenue sources for a social housing fund, including federal funding sources that are necessary.

(D) Removing constraints and obstacles to the goals.

(E) Creating new housing development and property management capacity at the state level, including a state Social Housing Authority.

(b) The department shall include the study completed pursuant to this section in the annual report for the 2027 calendar year required by Section 50408.

(Added by Stats. 2023, Ch. 402, Sec. 1. (SB 555) Effective January 1, 2024.)