Add to ORKGCALIFORNIA HOUSING AND JOBS INVESTMENT BOND ACT. $185 MILLION LEGISLATIVE BOND ACT. • This act establishes a comprehensive program to address the severe housing crisis in California by authorizing the issuance of bonds, requires the proceeds of the bonds to be deposited into the California Housing Loan Insurance Fund for the purpose of providing mortgage guaranty insurance for low and moderate income first-time home buyers pursuant to Part 4 (commencing with Section 51600) of Division 31 of the Health and Safety Code, and requires the repayment of General Fund costs from program revenues in excess of required program costs and reserves