A controversial bill that would extend eligibility for California’s first-time homebuyer loan program to undocumented immigrants has moved forward in the state legislature.
The proposed legislation, Assembly Bill 1840, would amend the “California Dream For All Shared Appreciation Loan” program to explicitly state that applicants “shall not be disqualified by the agency solely based on the applicant’s immigration status.”
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The program currently offers loans of up to 20 percent of a home’s purchase price to assist with down payments or closing costs. This assistance is targeted toward low- and moderate-income first-time homebuyers.
Proponents of the bill argue that it would help address the state’s housing crisis and promote homeownership among a wider population. They contend that undocumented immigrants contribute significantly to the state’s economy and deserve access to the same opportunities as other residents.
However, critics of the bill express concerns about the potential strain on the program’s resources and the fairness of using taxpayer funds to benefit those who are in the country illegally. They also raise questions about the potential for fraud and abuse.
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The bill has drawn strong reactions from both sides of the immigration debate. Some see it as a compassionate step towards inclusivity, while others view it as a misguided policy that rewards illegal immigration.
The California State Assembly has until September 2024 to pass AB 1840. If it becomes law, it could have significant implications for the state’s housing market and its ongoing debate on immigration policy.
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