Portantino’s Workforce Housing Bill Clears Assembly Housing Committee

State Sen. Anthony Portantino
State Sen. Anthony Portantino

State Sen. Anthony Portantino’s SB 1299 passed the Assembly Housing and Community Development Committee last week with bipartisan support. The bill previously passed the Senate unanimously.
Portantino has long supported incentive-based legislation and SB 1299 is consistent with that approach, according to a spokesman. The Los Angeles County Business Federation suggested the bill idea to the senator earlier in the year to help address L.A. County’s housing shortage.
According to a Portantino spokesman, SB 1299 will create a program for cities to convert abandoned big-box retail sites into affordable and workforce housing. Under Portantino’s bill, local governments will be able to use these incentives to replace sales tax revenues previously generated from big-box retail stores.
Specifically, SB 1299 will enable local cities to receive from HCD the average of the annual amount of sales tax revenue generated by that site for the last seven years if the site has been converted and occupied with new housing. The city would receive that average amount for a total of seven years.

Continue reading “Portantino’s Workforce Housing Bill Clears Assembly Housing Committee”