Purpose of the Bill

The bill aims to introduce a requirement for legislative scrutiny on bills that could significantly impact the cost of building or remodeling residential housing.

Main Provisions

• Referral Requirement: The bill proposes that any legislation that would increase the cost of residential construction or remodeling by $3,000 or more per housing unit must be referred to specific legislative committees.
• Jurisdictional Oversight: These committees are those with authority over housing finance and policy, ensuring that the financial implications on housing are adequately reviewed and evaluated.

Significant Changes to Existing Law

• This bill would establish a new statutory requirement mandating that financial impacts on housing are considered during the legislative process, potentially slowing down or altering the course of bills expected to significantly hike construction or remodeling costs.

Relevant Terms

• Housing finance and policy
• Residential construction costs
• Legislative committees
• Remodeling costs