AB 1657 would authorize $10 billion in general obligation bonds to provide funding for affordable rental housing for lower income families, homeownership opportunities, and supportive housing for people experiencing homelessness.

The California Journalism Preservation Act directs big tech companies to pay publishers a “journalism usage fee” each time they use local news content and sell advertising alongside it. In turn, the bill requires news publishers to invest 70% of the profits from the usage fee in journalism jobs.

The bill, if approved, would put the state in the development business to create a slew of mixed-income rentals and for-sale homes.