Sets standards for advertising affordable housing

The definition of 'deeply affordable' was changed from 'affordable to a household making sixty percent or less of the area median income, as defined by HUD' to 'affordable to a very low income family, as defined by 24 CFR 5.603.' Under federal regulation, 'very low income family' means annual income at or below 50% of area median income, so this lowers the qualifying threshold from 60% AMI to 50% AMI.

Because the income threshold dropped from 60% to 50% of area median income, fewer housing units will meet the 'deeply affordable' standard. This means more advertisements that previously complied would now be considered false advertising under the bill's enforcement provisions.

Two additional Assembly sponsors (Dinowitz and Levenberg) were added to the bill.