"Reimagined LA" 
United to House LA (ULA) is a sustainable funding stream dedicated to affordable housing production and homelessness prevention in the City of Los Angeles. 

Seventy percent of the ULA program funds the Affordable Housing Program, which supports the construction, rehabilitation, and preservation of affordable housing. Thirty percent of the ULA program funds the Homelessness Prevention Program, which supports efforts to stabilize lower-income tenants and prevent their displacement from their homes.

Property taxes under the ULA housing bill added an additional 4.5% tax on homesales over $5.5m and 5.5% tax on ones over $10m. 

Funding for all program categories is generated by an additional special real property transfer tax on conveyances of real property over $5 million. ULA went into effect on January 1, 2023, and applicable property sale tax collections began on April 1, 2023.

No more tax revenue for ULA, and residents are made whole by Biden's plan. 

More on ULA here:Neat article by Dwell on the "Reimagined LA sustainable program" here: