Providing local governments tax resources and fund flexibility.

Summary

The bill lets local governments impose an extra tax of up to 0.25 % on real‑estate sales for capital improvements and up to 0.5 % for affordable‑housing development. Revenues must be used for specified projects such as roads, parks, airports, homeless‑housing facilities, and other capital works, and may be placed in a dedicated affordable‑housing account with competitive grants or loans. Voter approval is required in some cases, and counties must credit city taxes if both levy the housing tax.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share