Housing Trust Fund Expansion Leads Trio of November Ballot Measures at Rules Committee

San Francisco's Rules Committee unanimously advanced three charter amendments headed for the November 2026 ballot — more than doubling the city's dedicated affordable housing fund, creating a first-in-California public bank framework, and streamlining decades of governance clutter. More than 40 public commenters turned out for the marathon hearing, with SRO families from Chinatown delivering some of the most powerful testimony of the day.

• Housing Trust Fund would grow from $50M to $125M annually by capturing 20% of property tax growth, with fiscal guardrails for deficits and recessions
• Public bank governance framework advances to full board before state enabling law sunsets in 2028, targeting affordable housing, small business, and climate lending gaps
• Sweeping charter reform eliminates obsolete commissions, modernizes MTA service metrics, and moves advisory bodies out of the charter
• SRO families, affordable housing developers, and nonprofits pack hearing — over 30 speakers urge Housing Trust Fund passage, calling it "a floor, not a ceiling"
• All four substantive items pass 3-0; two continued as amended to June 29

The centerpiece of the June 22 Rules Committee hearing was Supervisor Myrna Melgar's charter amendment to expand the Housing Trust Fund — created by voters in 2012 — from approximately $50 million to $125 million annually.