A package of Senate bills, which could greatly impact the real estate industry, still haven’t found a permanent home.
Lawmakers updated the housing package on Friday when it became clear the controversial bills weren’t going to move forward as is, the Los Angeles Times reported. They need to be approved by Sept. 15 in order to become law before the legislative session is scheduled to end.
Democratic Assemblyman Rudy Salas introduced a new bill, AB-166, which would allow low-income residents to bypass the proposed fees on real estate transactions put forward by Sen. Toni Atkins’ SB-2.
Atkins has yet to secure the two-thirds majority vote needed to pass the bill.
Assemblyman Richard Bloom altered his bill — the controversial and highly criticized AB-1505— which would force developers to set aside a number of homes in their projects for low-income residents. Critics have claimed this would have a counter effect and slow development.
The revised bill now allows the state Department of Housing and Community Development to review proposed local ordinances to ensure cities don’t use the mandates to block development. [LAT]- Natalie Hoberman