The following is an update on housing-related bills and the position C.A.R. has taken on them.
SB 539: Clarifies Effective Dates in Prop 19
C.A.R. is supporting SB 539 (Hertzberg, McGuire, Allen) to clearly confirm that under Prop 19, either the sale of the original property, or the purchase or the new construction of the replacement dwelling can occur prior to April 1, 2021. SB 539 is scheduled for a vote this week in the Senate Governance and Finance Committee. C.A.R. hopes that the bill will be swiftly passed and signed.
AB 946: Eliminates MID on 2nd Homes
C.A.R. opposes AB 946 (Lee) which would limit the mortgage interest deduction on homes other than primary residences. in order to increase the number of down payment assistance loans available.
AB 1199: Taxes Rental Housing Providers
C.A.R. Opposes AB 1199 (Gibson) which seeks to tax housing providers during a pandemic while they are providing critical shelter to tenants.