Posted on 05/12/2020 11:12:25 PM PDT by knighthawk
California Democrats on Tuesday proposed giving tenants struggling during the coronavirus pandemic 10 years to pay their rent.
The state would purchase unpaid rents and allow renters a decade, starting in 2024, to pay it back, under the proposal by Senate President Pro Tem Toni Atkins, tthe Sacramento Bee reported. Landlords would receive a tax credit dependent on committing to not evict tenants.
“This is not a giveaway,” Democratic state Sen. Steven Bradford said, according to The Associated Press. "Our goal is to keep tenants houses and keep landlords out of foreclosure."
(Excerpt) Read more at foxnews.com ...
As long as it isn’t federal money, go for it.
Fuck that. Some of us own rentals here. Why should this stand?
Only 10 years?
Why not make ut a cool 100 years?
That way, they can die before they have to pay back anything.
“...Our goal is to keep tenants houses and keep landlords out of foreclosure...”
Yeah, while keeping California workers and businessmen locked out of their jobs and income. We know what is being done to the state and by who. It is not going to get you federal bail out money.
California democrats are determined to make their own state unlivable for anyone.
No one will ever build a new residential building in California, ever again.
This is madness.
So, landlords are supposed to pay their mortgage with a tax credit??
Do landlords get 10 years to pay their mortgages, insurance and property taxes?
WTF?
The world is gone plumb mad...
Gawd
Don’t you know how much tax credits help rich landlords ? /s
Do you have a degree in economics from the university of Haiti? /S
I don’t even think CA on LSD could pass this.
“Forget it, Jake - it’s Cartelfornia...”
The state would give a tax credit for rents not paid?
Will the bank/lender give the property owner a year to pay the mortgage? Will the utilities, the insurance or the property management take a rain check for a year till the owner gets the tax credit?
This is utterly ridiculous.
Just as the vast majority of people need a job (income) to pay their bill's (mortgage, insurance, etc)....soo too do the vast majority of landlords need rents paid (income) to pay THEIR bills (mortgage, insurance, etc).
There may not be a California in 10 years if the commies keep up this Marxist economic LSD dream.
That seems to be the plan. But if you don't want to wait 10 years, you can sell your tax credits. I'm sure you can get at least 25 cents on the dollar!
They will be demanding bailouts from the federal government
Money is fungible.
Before WuFlu, CA was getting over $400 bil annually in federal taxpayer money.
CA hasn’t been a donor state since Trump took office.
States can’t print money.
Of course it’s federal money.
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