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Red Alert Update: AB 1482 Passes Assembly


Yesterday the state Assembly passed AB 1482 with a vote of 48 yes votes to 31 no votes or abstentions. The Governor is expected to sign the bill shortly.
 
We are grateful to all the REALTORS® across California who responded to our many Red Alerts and made calls to lawmakers urging them to vote no. It was a true grassroots effort that generated more than 8,400 calls and 1,300 tweets in the past week alone. Thank you to all of you for making those calls and posting on social media. Legislators acknowledged from the floor that they were hearing from many of you.
 
While several of our recommendations were included in the final bill, including the exemption of single-family homes and condominiums, the final bill did not do enough to increase the supply of affordable rental housing. Even legislators who voted yes did so acknowledging its shortcomings.
 
It was disappointing that the California Apartment Association and the California Business Roundtable did not stand with us, but their decision had no impact on our commitment to making our position clear and focusing squarely on why AB 1482 was not a solution to California’s housing supply crisis.
                                                                             
In the final days, REALTORS® stood firm and made our case against AB 1482 based solely on its policy. Although we did not prevail, we remain steadfast in our commitment to overcome California’s historic housing supply and affordability crisis.


For more information, please contact Julie Tran at [email protected]

 


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