Sponsored Legislation

SB 937

Status: Signed Into Law

Fee Deferrals to Build More Homes

Home builders in California face a barrage of financial challenges, from exorbitant local development fees to high interest rates and rising labor and materials costs. Local development fees, including impact fees, services fees, and in-lieu fees, can reach $150,000 per home or higher. In many cases, the uncertainty around construction costs is enough to severely delay or even cancel much-needed housing projects. 

SB 937 will ensure cities can continue to make progress towards their housing goals in the face of recent cost increases. SB 937 allows home builders to delay the payment of certain impact fees until a certificate of occupancy is issued for their project, which will lower financing costs and allow more projects to pencil.

Updates

Authors

• Wiener (D, SD 11)

Co-Authors

• Grayson (D, AD 15)

Co-Sponsors

• California YIMBY
• California Housing Consortium
• Housing Action Coalition

Resources

SB 937 In the News