Your Voice Was Heard: SB 391 Dies in Committee

Paul Stewart, SAMCAR Government Affairs Director | June 4, 2014

Senate Bill 391 (DeSaulnier), which would have imposed a statewide tax of $75 on the recording of all non-sale documents - including refinances, died in the Assembly Appropriations Committee last Friday. (May 30 was the deadline for the state legislature to move bills from their 'house of origin' to the 'other side of the isle.' For example, from the Senate to the Assembly.)

SAMCAR (via C.A.R.) issued several calls for action on SB 391 and you responded! Thank you… but forewarned is forearmed. This scheme will doubtless be reintroduced in the 2014-2015 session and in one form or another, will not be the last the real estate industry is targeted. Income from the tax was to be used to fund an affordable housing trust; ostensibly to replace revenue lost by cities and counties when the state eliminated redevelopment agencies.

SAMCAR was opposed to the proposal for, even as we are an aggressive advocate for affordable housing, it is bad policy to fund affordable housing at the expense of a small segment of the population – those who are buying or selling a home. Affordable housing programs should be funded by the broadest base possible of California's citizens.

TAGGED: Assembly, Document Recording, SB 391, Senate, Tax

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