Two months after being defeated by CAA, the “Stay in Business Forever Act” is back.
The legislation, which targets the right of landlords to leave the rental market via the Ellis Act, was reintroduced Thursday by Assemblyman Alex Lee, D-San Jose.
Lee’s proposal largely mirrors AB 854, which died on the Assembly Floor after Lee declined to bring the bill forward due to not having enough votes to pass the legislation.
Although AB 854 is still dead, much of the text now appears in another piece of legislation: AB 2050.
As with AB 854, AB 2050 would prevent many rental housing providers from using the Ellis Act to terminate tenancies and exit the rental market until all owners of the property have owned their interest for at least five years.
Earlier this year, CAA members played a key role in the defeat of AB 854, having sent thousands of opposition letters to lawmakers. In the coming weeks, look for emails from CAA on ways you can help stop AB 2050.