The primary purpose of this chapter is to meet the multifamily rental housing needs of persons and families of low or moderate income. The exercise of the powers granted by this division shall be in all respects for the benefit of the people of this state and for their health and welfare. Therefore, any bonds issued by a city, county, or city and county pursuant to this chapter, their transfer, and the income therefrom shall at all times be free from taxation by the state or any political subdivision or other instrumentality of the state, excepting inheritance and gift taxes.
Cal. Health & Safety Code § 52085
Financing
Known as the Zenovich-Moscone-Chacon Housing and Home Finance Act
The act spans §§ 50000–54913 (995 sections).
Applied in 1 court decision — leading case 149 Cal. App. 4th 1460 - Poway Royal Mobilehome Owners Ass'n v. City of Poway (2007)
Most recently applied in 149 Cal. App. 4th 1460 - Poway Royal Mobilehome Owners Ass'n v. City of Poway (April 2007)
Added by Stats. 2002, Ch. 12, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.