We have moved quickly to support a measure that will provide some relief to our state’s 2.4 million renters.  SB 248 jointly introduced by Assemblymember Lorena Gonzalez (D-San Diego) and Senator Steven Glazer (D-Orinda) would expand and reform California’s renter’s credit for the first time in 40 years.

“The housing crisis in California must be addressed and this is just one of many reforms we should enact to help our fellow citizens.  We must also look at other solutions to increase our housing supply which is the only way to truly bring down costs in the long term,” state Rex Hime, president and CEO of the California Business Properties Association.

Currently, eligible renters can qualify for $60 for single filers or $120 for married filers to offset their tax liabilities. There are 1.7 million renters who file for this tax credit now; under this legislation, 2.4 million renters would benefit.

© 2007-2012 Building Owners and Managers Association of California (BOMA Cal)