AB-57 Home Purchase Assistance Program: descendants of formerly enslaved people. An act to add Section 51344 to the Health and Safety Code, relating to housing. LEGISLATIVE COUNSEL'S DIGEST AB 57, as amended, McKinnor. Home Purchase Assistance Program: descendants of slaves. formerly enslaved people. Existing law establishes the California Housing Finance Agency in the Department of Housing and Community Development, and authorizes the agency to, among other things, make loans to finance affordable housing, including residential structures, housing developments, multifamily rental housing, special needs housing, and other forms of housing, as specified. Existing law requires the agency to administer a home purchase assistance program for the purpose of assisting low- and moderate-income home buyers to qualify for the purchase of owner-occupied homes, as specified. Existing law establishes the Home Purchase Assistance Fund, which is continuously appropriated for expenditure pursuant to the program and defraying the administrative costs for the agency. Existing law requires, on and after July 1, 2016, unobligated amounts remaining in any fund established for specified purposes to be transferred to the fund for expenditure by the agency for the purposes of the program. This bill would require that at least 10% of the moneys in the fund to be made available to applicants who meet the requirements for a loan under the home purchase assistance program and are descendants of formerly enslaved people. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill Text The people of the State of California do enact as follows: SECTION 1. Section 51344 is added to the Health and Safety Code, to read: 51344. At least 10 percent of the moneys in the fund shall be made available to applicants who meet the requirements for a loan under the home purchase assistance program and are descendants of formerly enslaved people.