Housing: downpayment assistance.

Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, homeownership for very low and low-income households, and downpayment assistance for first-time homebuyers. This bill would express the intent of the Legislature to enact legislation that would create a pilot program to provide downpayment assistance to persons who are purchasing their rental residence pursuant to a rent-to-own contract.