The Affordable Housing Bond Act Trust Fund of is hereby created within the State Treasury. It is the intent of the Legislature that the proceeds of bonds (exclusive of refunding bonds issued pursuant to

Section 54026) be deposited in the fund and used to fund the housing-related programs described in this chapter. The proceeds of bonds issued and sold pursuant to this part for the purposes specified in this

chapter shall be allocated in the following manner: (

a) One billion five hundred million dollars ($1,500,000,000) to be deposited in the Housing Rehabilitation Loan Fund established pursuant to

Section 50661. The moneys in the fund shall be used for the Multifamily Housing Program authorized by

Chapter 6.7 (commencing with

Section 50675) of

Part 2, to be expended to assist in the new construction, rehabilitation, and preservation of permanent and transitional rental housing for persons with incomes of up to percent of the area median income (AMI). These funds may also be used to provide technical assistance pursuant to

Section 54007. (

b) One hundred fifty million dollars ($150,000,000) to be deposited into the Transit-Oriented Development Implementation Fund, established pursuant to

Section 53561, for expenditure, upon appropriation by the Legislature, pursuant to the Transit-Oriented Development Implementation Program authorized by

Part 13 (commencing with

Section 53560) to provide local assistance to cities, counties, cities and counties, transit agencies, and developers for the purpose of developing or facilitating the development of higher density uses within close proximity to transit stations that will increase public transit ridership. These funds may also be expended for any authorized purpose of this program and for state incentive programs, including loans and grants, within the department. Any funds not encumbered for the purposes of this subdivision by November 6, 2028, shall revert for general use in the Multifamily Housing Program authorized by

Chapter 6.7 (commencing with

Section 50675) of

Part 2, unless the Department of Housing and Community Development determines that funds should revert sooner due to diminished demand. (

c) Three hundred million dollars ($300,000,000) to be deposited in the Regional Planning, Housing, and Infill Incentive Account, which is hereby created within the fund. Moneys in the account shall be available, upon appropriation by the Legislature, pursuant to the Infill Incentive Grant Program of established by

Section 53545.13 for infill incentive grants to assist in the new construction and rehabilitation of infrastructure that supports high-density affordable and mixed-income housing in locations designated as infill, including, but not limited to, any of the following:

(1) Park creation, development, or rehabilitation to encourage infill development.

(2) Water, sewer, or other public infrastructure costs associated with infill development.

(3) Transportation improvements related to infill development projects.

(4) Traffic mitigation. These funds may also be expended for any authorized purpose of this program. Any funds not encumbered for the purposes of this subdivision by November 6, 2028, shall revert for general use in the Multifamily Housing Program authorized by

Chapter 6.7 (commencing with

Section 50675) of

Part 2, unless the Department of Housing and Community Development determines that funds should revert sooner due to diminished demand. (

d) One hundred fifty million dollars ($150,000,000) to be transferred to the Self-Help Housing Fund established pursuant to

Section 50697.1. Notwithstanding

Section of the Government Code and

Section 50697.1, these funds are hereby continuously appropriated to the Department of Housing and Community Development without regard to fiscal years, which funds shall be transferred by the department to the California Housing Finance Agency for purposes of the home purchase assistance program established pursuant to

Chapter 6.8 (commencing with

Section 51341) of

Part 3. (

e) Three hundred million dollars ($300,000,000) to be deposited in the Joe Serna, Jr. Farmworker Housing Grant Fund, established pursuant to

Section 50517.5, to fund grants or loans, or both, for local public entities, nonprofit corporations, limited liability companies, and limited partnerships, for the construction or rehabilitation of housing for agricultural employees and their families or for the acquisition of manufactured housing as part of a program to address and remedy the impacts of current and potential displacement of farmworker families from existing labor camps, mobilehome parks, or other housing. These funds may also be expended for any authorized purpose of this program. These funds may also be used to provide technical assistance pursuant to

Section 54007. Any funds not encumbered for the purposes of this subdivision by November 6, 2028, shall revert for general use in the Multifamily Housing Program authorized by

Chapter 6.7 (commencing with

Section 50675) of

Part 2, unless the Department of Housing and Community Development determines that funds should revert sooner due to diminished demand. (

f) Three hundred million dollars ($300,000,000) to be deposited in the Affordable Housing Innovation Fund established pursuant to subparagraph (

F) of paragraph (1) of subdivision (

a) of

Section 53545. Moneys in the fund shall be available, upon appropriation by the Legislature, pursuant to the Local Housing Trust Fund Matching Grant Program established by

Section 50842.2 to fund competitive grants or loans to local housing trust funds that develop, own, lend, or invest in affordable housing and used to create pilot programs to demonstrate innovative, cost-saving approaches to creating or preserving affordable housing. Local housing trust funds shall be derived on an ongoing basis from private contribution or governmental sources that are not otherwise restricted in use for housing programs. These funds may also be expended for any authorized purpose of this program. Any funds not encumbered for the purposes of this subdivision by November 6, 2028, shall revert for general use in the Multifamily Housing Program authorized by

Chapter 6.7 (commencing with

Section 50675) of

Part 2, unless the Department of Housing and Community Development determines that funds should revert sooner due to diminished demand. (

g) Three hundred million dollars ($300,000,000) to be deposited in the Self-Help Housing Fund established pursuant to

Section 50697.1. The moneys in the fund shall be available for the CalHome Program authorized by

Chapter 6 (commencing with

Section 50650) of

Part 2, to provide direct, forgivable loans to assist development projects involving multiple home ownership units, including single-family subdivisions, for self-help mortgage assistance programs, and for manufactured homes. These funds may also be expended for any authorized purpose of this program. At least thirty million dollars ($30,000,000) of the amount deposited in the Self-Help Housing Fund shall be used to provide grants or forgivable loans to assist in the rehabilitation or replacement, or both, of existing mobilehomes located in a mobilehome or manufactured home community. These funds may also be used to provide technical assistance pursuant to

Section 54007. Any funds not encumbered for the purposes of this subdivision by November 6, 2028, shall revert for general use in the Multifamily Housing Program authorized by

Chapter 6.7 (commencing with

Section 50675) of

Part 2, unless the Department of Housing and Community Development determines that funds should revert sooner due to diminished demand.