Senior Tenant Shallow Rental Subsidy Program of 2024: housing grants.

Existing law requires the Department of Housing and Community Development to administer various housing programs, including the Multifamily Housing Program and the CalHome Program. This bill would establish the Senior Tenant Shallow Rental Subsidy Program of 2024. The bill would require the department, upon appropriation by the legislature, to establish and administer a grant program for cities and counties to provide subsidies for senior citizens at risk of homelessness. The bill would require that, of the grants awarded pursuant to the program, 50% of the funds be awarded to localities with at least 250,000 residents, and 50% be awarded to localities with less than 250,000 residents. The bill would require funds awarded through the program be obligated by no later than July 31, 2025. The bill would authorize the department to reallocate any part of an award that is not so obligated to other grantees participating in the program that meet specified requirements. The bill would require a grantee to award rental subsidies to individuals, not to exceed $500 per month for up to 18 months, based on specified requirements. The bill would establish the Senior Tenant Shallow Rental Subsidy Program of 2024 Fund in the State Treasury, and would provide moneys in the fund be allocated, upon appropriation by the Legislature, to the department for use in accordance with the program.