Charter Amendment (Second Draft) to amend the Charter of the City and County of San Francisco to increase the amount of funding the City must appropriate to the Housing Trust Fund each fiscal year that is used for the creation, acquisition, and rehabilitation of affordable rental and ownership housing, for downpayment loans and housing stabilization for certain households, and for housing-related infrastructure; provide for a temporary freeze and temporary reduction in the annual appropriation to the Housing Trust Fund under certain circumstances; extend the sunset date of the Housing Trust Fund from July 1, 2043 to July 1, 2058; and delete obsolete provisions; at an election to be held on November 3, 2026.

The Board of Supervisors introduced a Charter Amendment to increase the funding for the Housing Trust Fund and extend its sunset date from July 1, 2043, to July 1, 2058.

The Department of Human Resources was notified to assess the impact of the proposed Charter Amendment and determine if 'Meet and Confer' requirements were necessary.

The Controller's Office was referred the Charter Amendment for a financial analysis prior to the first Rules Committee hearing.

The Planning Department provided a response regarding the Charter Amendment, indicating it was not defined as a project under CEQA guidelines.

The Controller's Office estimated that the proposed Charter Amendment would significantly impact government costs, projecting an increase in General Fund costs starting in FY 2028-29.

The Charter Amendment was assigned under the 30-day rule for further consideration by the Rules Committee.

The proposed Charter Amendment is scheduled to be presented to voters at the election.