Health and Safety Code section 51349.4
(a)
The agency shall establish the Disaster Rebuilding Assistance Program, to be administered by the agency, for the purpose of supporting construction, reconstruction, and renovation loans for properties damaged or destroyed in a qualified disaster.(b)
The Disaster Rebuilding Assistance Program may include the following forms of assistance:(1)
A construction loan loss guarantee program.(2)
A construction loan rate buydown program.(3)
A low-interest, deferred-payment subordinate loan program to facilitate access to financing.(4)
(A)Any additional programs the agency determines to be appropriate and consistent with the purpose of this chapter.(B)
If the agency expends more than ten million dollars ($10,000,000) on any additional program pursuant to this paragraph, then the agency shall first provide the Department of Finance and the Joint Legislative Budget Committee with the spending plan for the program and the basis on which the assistance will be provided.(c)
(1)There is hereby created in the State Treasury the Disaster Rebuilding Fund, to be administered by the agency.(2)
Moneys deposited in the fund may include appropriations from the Legislature from the General Fund or other state fund, the sale or issuance of any debt instrument secured by repayment of loans originated pursuant to this chapter, or money received pursuant to paragraph (3).(3)
The agency may collect or receive moneys from contractual agreements, donations, bequests, or local government appropriations, or any other source permitted by law to be deposited into the Disaster Rebuilding Fund.(4)
(A)Notwithstanding Section 13340 of the Government Code, all moneys in the Disaster Rebuilding Fund are continuously appropriated to the agency, without regard to fiscal years, for expenditure pursuant to this chapter and for defraying administrative costs of the agency.(B)
The administrative costs of the agency shall not exceed 5 percent of appropriations to the fund.(5)
Notwithstanding Section 16305.7 of the Government Code, any interest earned or other increment derived from investments made from moneys in the Disaster Rebuilding Fund shall be deposited in the fund.(d)
The state and the agency shall not be liable beyond the assets of the fund for any obligation in connection therewith.
Source:
Section 51349.4, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=HSC§ionNum=51349.4. (updated Jul. 13, 2026; accessed Aug. 3, 2026).
