Assembly Budget Subcommittee 7 to Review the Efficacy of California’s Housing Investments

SACRAMENTO, CA— On Monday, March 11, the Assembly Budget Subcommittee 7, chaired by
Assemblymember Avelino Valencia (D-Anaheim), will convene for its second oversight hearing, to
review whether our state’s investments in housing programs have been effective toward achieving
enhanced access and affordability for residents.

In the 2021-22 Budget, the state allocated $21.5 billion over several years to programs focused on
housing affordability and new construction. In 2023-24, the state allocated an additional $14.7 billion
for affordable housing production and homeownership, as well as transitional housing, assistance,
and homelessness prevention.

“Budget Subcommittee 7 is diving into the data, talking with experts and holding state agencies and
departments accountable,” Budget Subcommittee 7 Chair Avelino Valencia said. “Housing
affordability is top of mind for many Californians right now, and Monday’s hearing will allow us to
continue our important oversight and accountability work to ensure state programs are as effective
as possible.”

“California has made historic investments in recent years,” Speaker Robert Rivas (D-Salinas) said. “I
appreciate the work of Budget Subcommittee 7 Chair Avelino Valencia and Assembly Budget Chair
Jesse Gabriel to focus on the importance of oversight and accountability, as well as the responsibility
we have to look in the rearview mirror and ensure that we deliver results.”

“In the Assembly this year, we are prioritizing accountability,” Assembly Budget Chair Jesse Gabriel
(D-Encino) said. “Our budget leaders are taking a hard look at past spending to ensure tax dollars are
being used wisely and effectively. And, in particular, this is where Budget Subcommittee 7, led by
Assemblymember Valencia, comes into play.”

The hearing is scheduled at 10 a.m. on Monday, March 11, in Room 1100 of the Swing Space (1021 O
Street), and can be watched remotely via the Assembly website.