California Governor Signs State University Faculty, Employee Housing Act, Includes Tax Credit Provisions

The California Governor signed the California State University Faculty and Employee Housing Act of 2024. The law includes permitting the California State University (CSU) and developers in receipt of local or state funds or tax credits designated for affordable rental housing to restrict occupancy to faculty or CSU employees on land owned by the Trustees of the CSU or a CSU auxiliary organization, including permitting CSU campuses and developers in receipt of tax credits designated for affordable rental housing to retain the right to prioritize and restrict occupancy on land owned by the Trustees of the CSU or a CSU ...