On 28 February 2024, Paul Chan, the Financial Secretary of Hong Kong, delivered the 2024-25 Budget (the “Budget”). Starting off by acknowledging the “challenging external environment” including “heightened geopolitical...more
We previously published a legal alert on October 12, 2023, about the extensive housing package that Governor Gavin Newsom signed on October 11, 2023, consisting of 56 bills to help address California’s decades-in-the-making...more
On March 28, 2023, Governor Ron DeSantis signed into law Senate Bill 102 (“Live Local Act” or the “Act”). The Act is a multifaceted law that supports the development of affordable housing in Florida by expanding and creating...more
The U.S. Interior Department last Thursday proposed a new program that would allow it to offer leases of public land for conservation purposes, in much the same way as it currently offers acreage for drilling, mining, and...more
Governor Ron DeSantis signed into law Senate Bill 102 (“Live Local Act” or the “Act”) on March 28, 2023. The majority of the Live Local Act will go into effect on July 1, 2023, with certain provisions pertaining to tax...more
A consortium of San Francisco landlords and property owners filed a lawsuit last week challenging the city’s new tax on vacant residences as unconstitutional and a violation of state law. Proposition M, “The Empty Homes Tax,”...more
President Joe Biden signed the Inflation Reduction Act of 2022 (IRA) into law on Aug. 16, 2022, following its passage along party lines in the U.S. Senate and House of Representatives. The comprehensive legislation is the...more
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...more
For decades, the California State Legislature has enacted numerous laws that limit the authority of local governments to constrain the supply and affordability of housing. These include the Housing Element Law, which requires...more