C.A.R.'s Virtual Advocate Newsletter: SB 30 Debt Forgiveness Income Tax is on hold.

 

CALIFORNIA ASSOCIATION OF REALTORS

Virtual Advocate

SACRAMENTO WEEKLY UPDATE: LEGISLATURE ADJOURNS
The Legislature adjourned for the year on Thursday, September 12, 2013. Any measures that did not pass their first house prior to the adjournment are dead and cannot move forward this year other measures are "two year" bills. Measures that did pass have been sent to the Governor who has until October 13, 2013 to sign or veto.

Here is a brief update on bills of interest to C.A.R.:

SB 30 (Calderon) Debt Forgiveness Income Tax is a "two year" bill and can pass as late as April 14th of next year to protect taxpayers on 2013 tax returns which must be filed by April 15, 2014.

AB 976 (Atkins) Coastal Resources and Enforcement failed on the Assembly Floor when it came back for concurrence of amendments.

AB 243 (Dickinson) and SB 33 (Wolk) Infrastructure Financing District were both moved to the Assembly Inactive File and will not move forward this year.

SB 731 (Steinberg) California Environmental Quality Act and Sustainable Communities Strategy was held in the Assembly Floor this week and will not move forward this year. 

AB 325 (Alejo) Challenges to Local Planning Decisions passed the legislature this week and is on the Governor's desk awaiting his signature.

For more details on all of the above legislation, please see the description
of C.A.R.-sponsored bills and C.A.R.'s Legislative Program .

RICHMOND MOVES FORWARD WITH EMINENT DOMAIN PLAN
An unprecedented plan to buy struggling Richmond homeowners' underwater mortgages is moving forward.

The Richmond City Council voted 4 to 3 early Wednesday morning to continue pursuing the controversial plan, which could use the city's power of eminent domain to force bondholders to sell underwater loans, allowing homeowners to restructure their mortgages.

The council rejected an agenda item submitted by Vice Mayor Corky Booze and Councilman Nathaniel Bates to strike down offers to buy the mortgages.

Read the complete story at:  http://sanfrancisco.cbslocal.com/2013/09/11/richmond-moving-forward-with-eminent-domain-plan-for-underwater-mortgages/ 

NAR's NEW PLACEMAKING INITIATIVE
Does your downtown need some sprucing up?   Do you have a one to two block area with
vacant properties, closed businesses, and no shopping or entertainment opportunities?  Would your association, and members, like to be involved with helping to change this?  Then learn how to revitalize these areas with "Build a Better Block", a process to plan an event in these areas to envision what could be.  Register today for our first in a series of webinars as part of NAR's Placemaking Initiative.    
http://www.realtoractioncenter.com/for-associations/smartgrowth/placemaking.html