California REALTORS® support bold 2019 legislative solutions to address state's housing crisis

SACRAMENTO, March 12, 2019 /PRNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) today announced its sponsorship or support of legislation that make up a bold package of bills to address California's housing shortage through increasing supply and removing barriers to development. C.A.R. and its membership of more than 200,000 real estate professionals stand ready to work with Gov. Gavin Newsom, the Legislature and key stakeholders during the 2019 legislative session to advance innovative solutions to ensure all Californians can realize the American Dream of homeownership.

"California is at a tipping point, and the housing crisis threatens to permanently impede the state's economic growth," said C.A.R. President Jared Martin. "It's time for California's leaders to take the necessary bold action and support legislative solutions to address the housing shortage and answer the governor's call earlier this year to 'build housing for all.'"

C.A.R. is proud to champion the following measures aimed at addressing the housing crisis:

• SB 50 (Sen. Scott Wiener) Housing Development Around Transit: Boosts housing and apartment development in and around major transit hubs and employers, and provides developers with a "density bonus" ? authority to build additional units in exchange for building below-market units ? and other incentives or concessions.
• AB 1568 (Asm. Kevin McCarty) Housing Accountability: Holds local governments accountable by withholding gas tax revenue if counties do not meet home building benchmarks verified by the California Department of Housing and Community Development.
• AB 1074 (Asm. Tyler Diep) Accessory Dwelling Units: Increases housing supply by selling bonds to provide loans to homeowners to construct accessory dwelling units (ADUs).
• AB 1020 (Asm. Jacqui Irwin) State Housing Agency: Establishes a state Housing Agency with a cabinet-level Secretary of Housing to oversee all housing-related initiatives and activities throughout the State of California.
• SB 509 (Sen. Anthony Portantino) Affordable Housing License Plate Program: Establishes a housing crisis awareness program through the issuance of a specialty license plate by the California Department of Motor Vehicles. The license plate would generate revenues for affordable housing programs throughout the state.

These measures, along with other bills that C.A.R. is supporting this year, are intended to increase housing construction as the solution to California's housing shortage.

"We are encouraged by Gov. Newsom and the Legislature's leadership to focus on solving the state's housing deficit. Californians deserve policies that make housing more available, affordable and accessible, and we believe that will be accomplished by these bills. To do anything less would put our state's economic future in peril as more and more Californians are priced out of the housing market," Martin said.

Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

SOURCE CALIFORNIA ASSOCIATION OF REALTORS