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1635 suffered the same fate authorizing the Corporation to issue <br />$200 million in revenue bonds. <br /> <br />- Assembly Bill 352 (McCarthy et. al. ) was held over for consider- <br />ation in 1975 and proposes the establishment of a Itousing Rehabilita- <br />tion Fund with an appropriation of $20 million for loans and grants <br />(3-1/2 percent interest rate on loans) to rehabilitate low and moderate <br />income housing. The bill established eligibility requirements, loan <br />limitations, rent restrictions, and non-discrimination provisions. <br /> <br />- Assembly Bill 4286 (Kapiloff) was held over for the next session. <br />It provided that for low rent housing projects for the elderly <br />financed in whole or part by state or federal assistance funds, <br />only one building permit would be required and the fee limited to <br />no more than $25.00 per unit. <br /> <br />- Assembly Bill 475 (Brown et. alL.) requiring notification of the <br />State Franchise Tax Board by local agency when substandard housing <br />is in a condition of non-compliance to local and state law after <br />notifying the taxpayer and providing for an appeal was also held <br />in abeyance. <br /> <br /> Basically all pieces of legislation including S.B. 2093 ttome Manage- <br />ment Training, A.B. 4416 Mutual Self-Help Housing Law, and S.B. 2396 <br />Disposition of Surplus State Property for Housing suffered similar fates due <br />to lack of actio,, or postponement. Already the legislation concerning a <br />housing finance corporation has been revived and new legislation concerning <br />property tax reductions for low income elderly introduced as the legislative <br />session has resumed. <br /> <br /> As pointed out in other sections, the City of Santa Ana should monitor <br />the various pieces of legislation and work through the California League <br />of Cities as well as independently in supporting or recommending concerning <br />pending legislative acts. <br /> <br />000116 <br /> <br /> <br />