California § 34312.7. 34312.7. (Added by Stats. 1992, Ch. 735, Sec. 2.)

California Statutes

§ 34312.7. — 34312.7. (Added by Stats. 1992, Ch. 735, Sec. 2.)

California § 34312.7.

JurisdictionCalifornia

Code HSCHealth and Safety Code - HSC

Div. 24.DIVISION 24. COMMUNITY DEVELOPMENT AND HOUSING

Part 2.PART 2. HOUSING AUTHORITIES

Ch. 1.CHAPTER 1. Housing Authorities Law

Art. 4.ARTICLE 4. Powers and Duties of Housing Authorities

This text of California § 34312.7. (34312.7. (Added by Stats. 1992, Ch. 735, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Health and Safety Code - HSC Code § 34312.7. (2026).

Text

(a)

(1)When refunding revenue bonds for multifamily housing which were previously issued pursuant to Section 34312.3, the authority shall ensure that rental units required, by this chapter or by applicable federal law at the time the original bonds were issued, to be reserved for occupancy for low- and very low income households shall remain occupied by, or made available to, those persons at least until the later of the following:

(A)The date originally so required.

(B)As long as any bonds remain outstanding with respect to the development.

(2)For bonds previously issued to finance a development where all of the units, other than management units, are, at the time of the refunding, subsidized by a housing assistance payments contract for new construction and substantial rehabilitatio

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(a)
(1)
When refunding revenue bonds for multifamily housing which were previously issued pursuant to Section 34312.3, the authority shall ensure that rental units required, by this chapter or by applicable federal law at the time the original bonds were issued, to be reserved for occupancy for low- and very low income households shall remain occupied by, or made available to, those persons at least until the later of the following:
(A)
The date originally so required.
(B)
As long as any bonds remain outstanding with respect to the development.
(2)
For bonds previously issued to finance a development where all of the units, other than management units, are, at the time of the refunding, subsidized by a housing assistance payments contract for new construction and substantial rehabilitation pursuant to Section 8 of the United States Housing Act of 1937 (42 U.S.C. Sec. 1437f), subparagraph (B) of paragraph (1) shall mean a period of time until the termination of the contract.
(b)
The authority may determine that the period set forth in paragraph (1) of subdivision (a) shall not apply to the refunding of previously issued revenue bonds for which there is a mandatory redemption or acceleration as a result of default under the terms of the existing loan agreement or other security documents.