Transfers From Unclaimed Property Trust Fund Hous

Under current law, commencing with the 2020-21 state fiscal year and for 3 total state fiscal years, assuming certain conditions are satisfied, the state is required to transfer $30 million from the unclaimed property trust fund to the housing development grant fund to support the provision of affordable housing statewide. The act delays the starting date for the first transfer by 2 state fiscal years. (Note: This summary applies to this bill as enacted.)