Controversial Home Mortage Deduction Cap Bill Withdrawn in Assembly

May 21, 2020 4:30 pmMay 21, 2020 7:26 pm

On Tuesday, the divisive Assembly Bill 1905, which would have limited mortgage interest deductions (MIDs) on primary and secondary homes to fund homeless programs, was withdrawn only hours before it was scheduled to be heard during the Assembly Housing and...

California’s Mayors Split on Vacation Home Tax Bill Aimed to Aid Homeless

March 11, 2020 6:15 amMarch 11, 2020 7:37 pm

“More money is necessary. But it’s not sufficient. More money needs to be accompanied by some form of legal mandate for all of us to bring people indoors.” ~Sacramento Mayor Darrell Steinberg On Monday, California’s Big City Mayors of...

Proposed Bill Would Remove Deductions from Secondary Homes to Fund Homeless Programs

January 13, 2020 1:25 pmJanuary 14, 2020 7:11 am

Vacation homes, rental homes, and other types of secondary housing would lose their mortgage interest deductions (MID) to fund new statewide homeless initiatives under a new bill announced Thursday. AB 1905 and the end of MID tax breaks Assembly Bill...