The California Apartment Association said it looks forward to working with Senate Pro Tem Toni Atkins, D-San Diego, and other Senate leaders to refine a rental-relief proposal unveiled this week.
Under the proposal, landlords who voluntarily forgive unpaid rent would receive tax credits to cover their losses. The tax credits would be fully transferable.
“During these unprecedented times, we appreciate the Senate Pro Tem’s creative effort to help tenants and rental property owners,” said Tom Bannon, chief executive officer for CAA. “The California Apartment Association is committed to working with the Senate to refine this voluntary program to ensure tenants can stay in their homes and rental property owners – especially mom and pop owners – are able to continue to pay their bills and their employees.”