Page 52 - AAGLA-JAN 2022

The Sacramento Update
• Proponent(s): Thomas Hiltachk
• Submitted for Title and Summary on November 30, 2021
“Affordable Housing and Financial Accountability Act of 2022”
• Bonds for housing and homelessness prevention/ Local Government authority to levy majority vote ad valorem tax on real property for bond indebtedness. New bonds issued with 55% or 50% majorities.
• Proponent(s): Amie Fishman
• Submitted for Title and Summary on November 12, 2021
“The Tax Cut and Housing Affordability Act of 2022”
• Establishes property tax 1% surcharge (may be up to 1.2%) for properties assessed over $5 million, with phase-in starting at properties assessed between $4 million and $5 millon. Increases homeowners’ property tax (“homesteading”) exemption to $200,000 (from $7,000) and increased renters’ tax credit
• Fiscal Impact Estimate Report
• Proponent(s): Stanley Apps
• Submitted for Title and Summary on October 6, 2021
“The Tax Cut and Housing Affordability Act of 2022“
• $26 billion property tax increase: 1.0% (possibly up to 1.2%) property tax surcharge on properties having assessed values of $4 million or more (phase-in between $4 million and $5 million).
• Property tax cut for homeowners by increasing “homesteading” from $7,000 to $200,000 (~$!,900 of property tax savings per year) and increased Renters Credit (Max. Renters Credit available for
taxpayers earing up to $200,000 per year for single filers and $400,000 for married filers).
• Title and Summary Issued on November 30, 2021 • Proponent(s): Stanley Apps
“Local Land Use and Zoning Laws Override Conflicting State Laws”
• Establishes that city and county land use and housing laws override state law. If passed, ability of local jurisdictions to preempt Ellis Act, Costa- Hawkins Rental Housing Act, new Accessory Dwelling Unit (ADU) laws, Senate Bill 9 and Senate Bill 10
• Title and Summary Issued on November 1, 2021
• Proponent(s): John Heath, Bill Brand, Peggy Huang, Jovita Mendoza, Dennis Richards (and, possibly, Michael Weinstein, President of the AIDS Healthcare Foundation)
“a/k/a, Repeal the Death Tax”
• Expands inherited property exclusions and removes limitation on transfer value for inherited homes. Allows transfer of primary residence (without residency requirement) and up to $2.4 million of assessed value of other real properties to decedents without reassessment.
• Title and Summary Issued on November 1, 2021
• Proponent(s): Jon Coupal, Howard Jarvis Taxpayers Association
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Kate Bell, the Founder and Chief Executive Officer of Kate Bell Strategies is a former Partner of Capitol Advocacy, which is ranked among California’s top lobbying firms. Ms. Bell’s firm specializes in lobbying, strategic planning, coalition building, budget advocacy, procurement, and political involvement. Kate Bell Strategies and Capitol Advocacy represent the interests of the Apartment Association of Greater Los Angeles through its affiliation with the California Rental Housing Association. Both firms are based in Sacramento.
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52 JANUARY 2022 • WWW.AAGLA.ORG