Marriott Hotel
San Jose, California
Wednesday, October 7, 2009
2:00 pm - 4:00 pm

Presiding:
Steve White, Chair
Cas Pinkowski, Vice Chair
Georgia Richardson, Vice Chair
Le Francis Arnold, Committee Liaison

C.A.R. Staff:
Dave Milton
Matt Roberts

I. Opening Comments

II. Introduction/Discussion of 2010 Housing Committee Structure

III. State Legislation

A. C.A.R-Sponsored Bill
SB 206 (Dutton) Tax Credit for Purchasers of Foreclosed Homes as Principal Residence

B. Other Housing Tax Credit Legislation
AB 765 (Caballero) Revision of FTB Computation Process re Allocation of Current Housing Tax Credit for Purchase of New Homes
SB 49 (Dutton) Lifting of Funding Cap on State Housing Tax Credit for New Homes Purchases

C. Other Housing Bills of Interest
AB 720 (Caballero) Housing Element Units Rehabilitation
AB 1246 (Jones) Housing Cooperative Trust and Workforce Housing Trust
AB 1432 (Mendoza) Expenditure Control of TARP Funds
AB 1459 (Davis) Multifamily Housing Program for Veterans
SB 326 (Strickland) Required Quantification of Local Foreclosure Rate in Housing Element
SB 575 (Steinberg) Local Requirements for Revision of Housing Element

IV. Federal Issues- Discussion Items

A. Federal Homebuyer Tax Credit
B. GSE Update
1.GSE Reform 
2.GSE and FHA Loan Limits
C. FHA Anti-Flipping Rule
D. FHA Update
1. FHA Appraisal
2. FHA Reserve Fund
3. H.R.3146

V. Other Business

VI. Adjournment