(a) Each update and revision to the plan occurring on or after January 1, 2023, shall incorporate both of the following:

1. (1) The plan shall include an inventory of the number of affordable units needed to meet the state’s affordable housing needs for the plan period.

2. (2) The plan shall incorporate technical updates and provide technical recommendations, including, but not limited to, both of the following:

   1. (A) Recommendations for modernizing statutory and regulatory terminology.
   2. (B) Updating cross-references to relevant reports and studies relied on in the plan and used in this part.

(c)

1. (1) Each update and revision to the plan occurring on or after January 1, 2024, shall incorporate all of the following:

   1. (A) An analysis of first-time home buyer assistance policies, goals, and objectives.
   2. (B) Recommendations for actions that will contribute to increasing home ownership opportunities for first-time home buyers in California.
   3. (C) An evaluation and summary of demographic disparities in home ownership attainment in California, which may include, but is not limited to, disparities related to race, ethnicity, household income, household size, age, and disability status.
2. (2) The department shall consult with the California Housing Finance Agency and may consult with other state departments and agencies deemed relevant to inform the plan pursuant to this subdivision.