California Governor Newsom Vetoes $150,000 Home Loan Bill for Undocumented Immigrants Citing Budget Concerns

Sep 6, 2024, 06:09 PM

California Governor Gavin Newsom has vetoed AB 1840, a bill that would have allowed undocumented immigrants to apply for the state's first-time homebuyers assistance program. The proposed legislation aimed to provide up to $150,000 in state-supported home loans for eligible applicants through the "California Dream for All" program. Newsom cited budget concerns, particularly the state's $70 billion budget deficit, as a key reason for the veto. He emphasized the need for careful consideration in expanding program eligibility given the finite funding available for California Housing Finance Agency (CalHFA) programs. The veto message also highlighted that lawmakers attempted to expand eligibility to a program that currently lacks sufficient funds.