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January 22, 2021
A top priority in the first 100 days of the Biden administration will be a housing plan. If Congress approves the current proposal, one in every five Californians could receive rental assistance from the federal government. “This is a day for housing justice, this is a day for health justice, this is a day for racial justice, this is a day for economic justice,” Amie Fishman, Executive Director for The Nonprofit Housing Association of Northern California said. Read more via…
January 14, 2021
Assembly Bill 71 was amended on January 12 to replace its intent language with dozens of pages of substantive amendments, including several major tax increase proposals. This article only examines the tax provisions of AB 71. The bill is jointly authored by Assembly Members Luz Rivas, Richard Bloom, David Chiu, and Buffy Wicks. AB 71 will require a 2/3 vote for passage in both houses of the Legislature. According to the bill’s author, “AB 71 will generate $2.4 billion annually by closing corporate tax loopholes…
January 12, 2021
Late last week, Governor Gavin Newsom released his proposed budget for California’s 2021-22 fiscal year. This proposal is the starting point for the work that the Legislature and Governor’s office now undertake together. Their revised budget will be released in May, and voted on by June 15. What’s in the Governor’s Proposal? The Governor’s proposal makes clear that the Newsom administration remains committed to housing and homelessness as one of the most critical issues facing Californians. Key elements included in…
December 22, 2020
One of the great success stories of 2020 has been the creation and activation of the Bay Area Housing Finance Authority, or BAHFA. Through hard work, engagement, and collaboration with partners throughout the region, we passed AB 1487 (2019) which created an agency to facilitate a regional housing infrastructure that was until recently unheard of. This new, regional body will have the power to fundraise from the state, local, and federal sources and from the private sector to produce more affordable…