Resolution criteria:

This market will resolve to "Yes" if California Senate Bill 79 (SB 79) is enacted into law by December 31, 2026. Enactment occurs when the bill is passed by both houses of the California State Legislature and signed by the Governor. If SB 79 is not enacted by this date, the market will resolve to "No."

Background:

Introduced by Senator Scott Wiener on January 15, 2025, SB 79 aims to facilitate the development of multi-family housing near transit stops, such as train stations and rapid bus lines. The bill proposes upzoning and streamlining project review processes to increase housing density in these areas, thereby addressing housing affordability, reducing greenhouse gas emissions, and enhancing public transit systems. (sd11.senate.ca.gov)

As of March 12, 2025, SB 79 has been re-referred to the Senate Committees on Housing and Local Government. (legiscan.com)

Considerations:

• The bill's progress through the legislative process, including committee reviews and potential amendments, will influence its likelihood of passage.

• Stakeholder support and opposition, including positions from housing advocates, environmental groups, and local governments, may impact the bill's advancement.

• Historical data on similar legislation can provide context for SB 79's potential success.

For the most current information on SB 79's status, refer to the California State Legislature's official website.