The Senate Housing Committee on Tuesday advanced a proposal aimed at lowering housing costs by sending a multibillion-dollar bond measure to voters. The vote marked the first hearing of the legislative session on the issue and the first step toward placing the measure on the November 2026 ballot.

The bill would authorize $10 billion in bond funding for affordable housing projects across California. Supporters say the state has roughly 45,000 affordable housing projects in the pipeline, about 40,000 of which could be funded through the bond.

“It’s all tied to affordability,” Arreguín said. “Healthcare affordability, making sure people can feed themselves, making sure people have a roof over their head.”

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