SACRAMENTO, Calif. (KTXL/KGET) — California lawmakers this year are aiming to give low-income renters a boost.
Dozens of legislators Wednesday unveiled Senate Bill 843, which would increase the renters tax credit for the first time since 1979.
“We have the opportunity to make an immediate and lasting impact, helping those in low-income communities who struggle with the high cost of rent,” said Sen. Steve Glazer D-Contra Costa.
The bill would give $500 to single-filing taxpayers making less than $44,000 a year. Couples who make less than $87,000 combined would get $1,000.
Lawmakers said it is a concerning contrast from the current credit, which provides $60 to single filers and $120 to couples.
“And that’s a travesty. Our families are struggling more than ever, as we all know, with everything they have to deal with, the pandemic and other issues,” said Sen. Susan Rubio, D-Baldwin Park.
They noted this credit has remained low as rents tripled in the last 40 years.
Forty-two lawmakers have signed onto the bill, which has bipartisan support.
“We simply have not done enough to help with our state tax policies,” said Assemblyman Steven Choi, R-Irvine. “This legislation can serve as one tool to make renting more affordable.”
Lawmakers estimate it could help about 2.5 million Californians.
The bill now waits to be assigned to a committee for its first hearing.