New state bill could provide tax relief for renters 

State Assemblyman Phil Ting, D-San Francisco introduced a new bill alongside state Assemblyman Tom Daly, D-Anaheim, earlier this week urging passage of legislation to restore tax relief for renters in California.

Ting, who introduced the bill Monday, said that the legislation ensures that the modest refunds established by the new program would provide thousands of families a small measure of security.

Assembly Bill 2175 would enact the Renter's Tax Assistance Act to provide tax rebates to low-income renters.

California formerly established a renters' tax benefit in 1967 but it was eliminated in 2008 under Gov. Arnold Schwarzenegger.

"As state finances improve, our tax policy cannot continue treating renters as second-class citizens," Ting said.

Rebate amounts would vary based on household income and range from $250 to $348 per year.

To be eligible, individuals must have rented and occupied a property as their principal residence during the year for which the rebate would be claimed. Additionally, total household income could not exceed $42,588. Each application for assistance would be filed under penalty of perjury with the state Franchise Tax Board, synched with state income tax filings.

A recent study by the Arlington, Virginia-based Council for Community and Economic Research found that the California areas of San Francisco, San Jose, and Orange County are three of the top 10 places in the country with the highest cost of living.

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Tuesday, Aug 30, 2016

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