CAA on Wednesday applauded a newly released Senate budget proposal for including rental assistance and addressing California’s ongoing homelessness crisis and housing shortage.

Housing-related highlights from the Senate’s “Build Back Boldly” plan include the following:

• Bringing tax fairness and relief for renters by reforming and expanding the renters tax credit.
• Providing “first and last month” rental assistance to remove a key barrier for those experiencing homelessness to move back into permanent housing.
• Establishing a financing tool for accessory dwelling unit construction to produce more affordable units
• Providing incentives to convert vacant or underused commercial and retail space into affordable housing.
• Providing emergency grants to low-income homeowners to avoid foreclosure.
• Incentivizing earthquake retrofit with federal 75 percent match funds.

During a press conference today, Sen. Anna Caballero, D-Salinas, said: “As we take action to work our way out of the pandemic, we must do so equitably for everyday Californians. Through the Earned Income Tax Credits, Small Business Grants program and renters and landlord assistance programs, California continues to lead the nation to rebuild better and stronger than ever.”

Sen. President Pro Tem Toni Atkins said the budget proposal offers a “once-in-a-generation chance to make transformational change in California.”

“California has long led the nation on things like expanding health care for the middle class and undocumented immigrants, providing paid family leave and a higher minimum income, and establishing our own Earned Income Tax Credit,” Atkins said. “With the Build Back Boldly budget, the Senate continues to prioritize smart investments that take care of Californians and take California into the future.”