Prop 41: Veterans Housing and Homeless Prevention Bond Act of 2014

Put on the Ballot by Legislature

65.4% YES
34.6% NO

Summary

Authorizes $600 million in general obligation bonds for affordable multi-family supportive housing to relieve homelessness, affordable transitional housing, affordable rental housing, or related facilities for veterans and their families.

Fiscal Impact: Increased state bond costs averaging about $50 million annually over 15 years.

What Your Vote Means

A YES Means The state would sell $600 million in general obligation bonds to fund affordable multi-family housing for low-income and homeless veterans.
A NO Means The state would not sell $600 million in general obligation bonds to fund affordable multi-family housing for low-income and homeless veterans.

Arguments

PRO Prop 41, the Veterans Housing and Homeless Prevention Act of 2014, redirects $600 million of previously approved, unspent bond funds to construct and rehabilitate housing for California's large population of homeless veterans. This Act will construct affordable, supportive and transitional housing for homeless and near homeless veterans without raising taxes.
CON Proposition 41 would authorize the State to borrow (by selling bonds) $600 million out of $900 million in bonds previously approved by voters in 2008 for use by the Cal-Vet Home and Farm Loan Program. The issue is whether such a diversion of funds is wise.
Prop 42