§ 51529

Prior to the disbursement of the remainder of funding for the program appropriated in the 2022 Budget Act, and prior to the disbursement of any funding for the program that may be appropriated in the 2023 Budget Act, the agency shall review the program terms and parameters, and shall implement adjustments designed to achieve the following program improvements:

(a) Defining first-generation homebuyers.

(b) Targeting funds to aid first-generation homebuyers.

(c) Supporting an equitable distribution of program funds in different regions of the state.

(d) Prioritizing participation by homebuyers in the lower tiers of the income eligibility structure.

(Added by Stats. 2023, Ch. 196, Sec. 16. (SB 143) Effective September 13, 2023.)