Industry News

California Realtors hash out legislative agenda

Association seeks to amend affordable housing, rental conversion requirements

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Representatives for the California Association of Realtors are meeting this morning in Sacramento to discuss a series of sponsored bills that, if approved, would increase the housing stock and reduce affordable housing requirements for developers and local governments. The four bills, Assembly Bill 2175, AB 2348, AB 2702 and SB 1818, would reduce affordable housing ratios required for developers to win government incentives, ease the conversion of rental housing into tenant-owned housing, allow local governments to lower their share of the regional housing needs by 15 percent for each income group, and amend the state planning and zoning law to allow greater leeway in the creation of second units. Other state legislation sponsored by the association seeks to affirm the ability of county recorders to receive real estate transactional documents for recording, changes language in existing statutes related to disclosures of airport proximity, and changes rules that govern the sales and...