Will the New Affordable Bill Overlap with Opportunity Zone Projects?

SB-196 is one of many new housing bills that Governor Newsom has signed into law to encourage affordable and low-income housing development. The bill provides a property tax exemption for community land trusts building affordable housing—a huge benefit—but that could be just the beginning. In some cases, these projects could also line-up with opportunity zone benefits, particularly because there is such a widespread need for affordable units.