In May of 2026, DSA San Francisco members filed paperwork to put forward the Affordable Housing Guarantee Act, which was then overwhelmingly endorsed by the Chapter shortly afterwards. The Guarantee Act will dedicate the revenue earned from 2020’s Prop I (which DSA SF endorsed, and was authored by DSA member, former Supervisor Dean Preston) directly to affordable and social housing, rent relief, and eviction defense. By taxing the largest real estate deals in SF, we’ve already raised over $500M, and are projected to raise more than ~$100M each year. This is one of the few ways San Francisco can directly tax the wealthy speculators fueling our housing crisis. 

Learn more at www.fairhousingsf.com. 

Background

While 2020’s Prop I technically went to the general fund due to legal limitations, it was accompanied by a Board of Supervisors resolution clarifying that this revenue was intended to be used on rent relief, affordable housing, and similar programs. Since then, “moderate” Mayors Breed and Lurie have taken advantage of this discrepancy between the letter of the law and spirit of the law, and have refused to spend the majority of the money as the voters intended.

In 2023, new legal precedent allowed cities to dedicate revenue from transfer taxes to specific purposes, like affordable housing. In February of 2026, Supervisor Bilal Mahmood and Mayor Daniel Lurie moved to undo Prop I by slashing the transfer tax. This effort to cut taxes for the wealthy has since been shelved, in part due to DSA SF’s letter writing campaign and the momentum on the Guarantee Act, but its moderate proponents have maintained that they would still like to cut this tax in the future. Crucially, this means that this measure does not take away from other priorities: the revenue either goes towards affordable and social housing as voters intended, or it will be taken away entirely. 

Details

The Affordable Housing Guarantee Act will:

• Permanently dedicate funding to affordable housing, innovative social housing for all income levels, and rent relief, broken down as follows:
  • At least 60% for affordable housing production, with at least half of this to social housing
  • At least 25% for acquisition and rehabilitation of affordable housing
  • At least 10% for tenant stabilization/homeless prevention programs, with at least half to eviction defense
• Be paid for by an existing tax on properties over $10 million like mega mansions and skyscrapers. This measure doesn’t raise taxes on anyone.
• Exempt new housing construction, so it doesn’t impact growth.

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