In 2019, the California legislature passed, and Governor Newsom approved, new legislation impacting the development industry. Effective January 1, 2020, the laws summarized in the link below will impact the development process in many ways – from streamlining local permitting procedures for eligible projects to tenant protections and new incentives for financing affordable housing. The new laws also obligate local government to undertake updates in their housing plans and plan for growth, among other requirements. In 2020, we anticipate the state legislature to continue to tackle housing access and affordability and we are closely tracking progress on key bills, including Senate Bill 50 (Weiner).
Please see full Update below for more information.