Rent-cap bill awaits governor’s signature; CAA compliance paper available
This year’s statewide rent-cap bill, including a series of amendments secured by CAA, has cleared both houses of the California Legislature and now awaits Gov. Gavin Newsom’s signature.
The Assembly, which needed to review amendments to the bill, approved the legislation last month on a 48-26 vote with five abstentions. The bill passed off the Senate floor on a 25-10 vote with five abstentions.
AB 1482 by Assemblyman David Chiu, D-San Francisco, will cap annual rent increases at 5% plus the rate of inflation — which comes to about 8% at present — for much of the state’s multifamily housing stock. The bill also will apply “just cause” eviction policies to qualified housing across California.
Newsom has indicated he will sign the legislation.