Amendment holds SB 30 hostage to passage of SB 391

For release:

May 23, 2013 
California Senate Leadership 
seeks to punish homeowners 
and REALTORS® 
for opposing $75 recording tax

LOS ANGELES (May 23) – This morning 
the Senate Appropriations Committee 
approved Senate Bill 30 (R. Calderon), 
which would extend existing provisions 
of state law protecting homeowners from 
having to pay income tax on a "short sale."  
SB 30 is sponsored by the CALIFORNIA 
ASSOCIATION OF REALTORS® (C.A.R.).
However, in a surprise amendment, SB 30 
was linked by the committee to another bill 
that REALTORS®, as well the county recorders, 
assessors and title industry, oppose.  

That measure, Senate Bill 391 (DeSaulnier), 
would establish a $75 per document 
recording tax to fund an affordable 
housing trust fund.  C.A.R. is 
opposing SB 391 because it unfairly adds 
to the cost of recording real estate documents.  



"Families that are forced to make the
difficult decision to sell their home as a
short sale are already in financial trouble.
And, that financial trouble may be due to a
serious illness and/or loss of employment.
They simply can’t afford to pay an
additional tax on money they’ve never
actually received," stated C.A.R.
President Don Faught.  "I'm outraged --
as should the voters of California --
that the Senate leadership would approve
linking the fate of SB 30 to that of SB 391,
effectively holding California property owners hostage."
Web Resource:
http://www.car.org/newsstand/newsreleases/2013releases/sb30sb391