GOVERNMENTS IN FINANCE
COMMITTEE OFF WE'RE GOING TO BE
BRINGING IN THE COMMITTEE
HEARING TO ORDER PLEASE MAKE
NOTE THAT WE'RE GONNA BE
STARTING AS A SUB COMMITTEE
THIS MORNING WILL ESTABLISH A
QUORUM IS SEEN AS WE HAVE A FEW
OTHER MEMBERS COMING IN IT IS A
BUSY TIME OF YEAR AND- A LOT OF
MEETINGS TODAY. WE WELCOME YOU
TO THE JUNE TWENTY SECOND
EDITION OF THE SENATE
GOVERNMENTS IN FINANCE
COMMITTEE BEFORE WE GET INTO
THIS MORNING'S HEARING I LIKE
TO BE ABLE TO TAKE CARE OF SOME
HOUSEKEEPING ITEMS. IN GERMAN
WE CURRENTLY HAVE ONE BILL ON
FILE TODAY- BY CENTER COPIER
AND CENTER BRADFORD THAT SENATE
BILL FOURTEEN TEN WE WELCOME
YOU TO COMMUNICATE WITH THIS
COMMITTEE WE LOOK FORWARD TO
HEARING FROM YOU. IT'LL BE
THREE WAYS FOLKS CAN
COMMUNICATE WITH THE COMMITTEE
TODAY HERE IN PERSON IN ROOM
FORTY TWO OR THREE AT THE STATE
CAPITOL WE ALSO WELCOME YOUR
TESTIMONY ROOM TWENTY FORTY
HERE IN THE STATE CAPITAL OR
YOU CAN CALL INTO OUR LIVE LINE
WE DO HAVE INDIVIDUALS THAT ARE
CUED UP AND READY TO SPEAK.
THAT PHONE NUMBER IF YOU'D LIKE
TO BE ABLE TO COMMENT TODAY ON
SENATE BILL FOURTEEN TEN
NEITHER IN SUPPORT OR OPPOSE
EIGHT FOUR FOUR. TWO NINE ONE
SIX THREE SIX FOUR THAT NUMBER
IS. 844-291-6364 THE CODE ONE
ONE SIX. 1-448-116-6848 YOU CAN
ALSO FOLLOW THE PROMPTS ON YOUR
SCREEN. ALL RIGHT. AND LET'S
GET INTO WHAT WE- TO COPIER
HERE'S BE KICKING A SOFT WE'RE
GONNA TURN OVER TO SAN BRADFORD.
TO PROVIDE- THE PRESENTATION ON
IS SENATE BILL FOURTEEN TEN
HAPPY MONDAY SENATOR WE WELCOME
YOU. GOOD MORNING MISTER CHAIR
AND MEMBERS THANK YOU FOR THE
OPPORTUNITY TO PRESENT SB
FOURTEEN TEN. AN IMPORTANT
MEASURE TO ENSURE RENTER
FAMILIES AND LANDLORDS
THROUGHOUT CALIFORNIA. REMAIN
SOLVENT DURING THESE
EXTRAORDINARY TIMES- THIS ISSUE
IS THE NUMBER ONE ISSUE THAT
I'M HEARING FROM MY
CONSTITUENTS IT'S THAT
IMPORTANT. AS YOU ARE AWARE THE
CORONA VIRUS PANDEMIC HAS HAD
AN UNPRECEDENTED AFFECT ON
CALIFORNIANS. SINCE THE ONSET
OF COVERT NINETEEN AND THE
SHELTER PLACE ORDER BY THE
GOVERNOR CALIFORNIA HAS
EXPERIENCED HISTORIC JOB
LOSSES. THE CALIFORNIA
EMPLOYMENT DEVELOPMENT
DEPARTMENT ANNOUNCED LAST
FRIDAY THAT THE CURRENT
UNEMPLOYMENT RATE IS SIXTEEN
POINT THREE PERCENT. WHICH IS
SIGNIFICANTLY HIGHER THAN THE
PEAK UNEMPLOYMENT RATE OF
TWELVE POINT THREE PERCENT.
DURING THE GREAT RECESSION.
WHILE THE STATE AND FEDERAL
GOVERNMENT HAD HAD HAVE HELPED
PROVIDE BENEFITS FOR
INDIVIDUALS AND FAMILIES WHO
HAVE LOST THEIR JOBS. THESE
BENEFITS DO NOT FULLY REPLACE
THE LOST INCOME AND WILL NOT
LAST IN PERPETUITY. THIS
PANDEMIC HAS FURTHER
EXACERBATED THE STRUGGLE FOR
MANY TO MAKE ENDS MEET. IN
JANUARY AND ANALYSIS BY THE
PUBLIC POLICY INSTITUTE OF
CALIFORNIA. SHOWED OVER 50% OF
CALIFORNIANS PAID 30% OR MORE
OF THEIR HOUSEHOLD INCOME ON
HOUSING COSTS THIS MAKES THEM.
RENT BURDENED AS A RESULT MANY
RENTERS HAVE STRUGGLED TO PAY
THE RENT IN FULL OR IN PART
SINCE THE ONSET OF THE CORONA
VIRUS. IN APRIL 24% OF RENTERS
WERE UNABLE TO PAY THE RENT ON
TIME WHICH HAS INCREASED 230%
IN JUNE ACCORDING TO A RECENT
NATIONWIDE STUDY. WITHOUT STATE
INTERVENTION THE NUMBER OF
RENTERS UNABLE TO MEET THEIR
FINANCIAL OBLIGATIONS WILL
REMAIN HIGH- CONTINUE TO GROW
AS FULL ECONOMIC RECOVERY FROM
KOBE NINETEEN. IS LIKELY STILL
A LONG WAY OFF. SB FOURTEEN TEN
PUTS FORTH FOUR KEY COMPONENTS.
IT CREATES COLBERT NINETEEN
EVICTION RELIEF AGREEMENT
BETWEEN THE TENANT AND THE
LANDLORD. IT VOIGTS ANY DEMAND
FOR UNPAID RENT OR ADDICTION
ACCRUED DURING THE STATE OF
EMERGENCY AND A SPECIFIED TIME
PERIOD THERE AFTER. RIGHT TO
PERSONAL INCOME OR CORPORATE
TAX CREDIT EQUAL TO THE AMOUNT
OF RENT FORGIVEN. FOR LANDLORDS
ARE PROPERTY OWNERS WHICH CAN
BE SOLD FOR IMMEDIATE CASH
RELIEF ARE USED BEGINNING IN
TWENTY TWENTY FOUR AT THE
ELECTION OF THE LANDOWNER. AND
REQUIRES TENANTS TO REPAY THE
RENT TO THE STATE IN ANNUAL
INSTALLMENTS BEGINNING IN
TWENTY TWENTY FOUR NOT TO
EXCEED TEN YEARS. FINALLY THE
BILL FURTHER PROVIDES AID TO
RENTERS BY ALLOWING QUALIFYING
PARTICIPANTS THE ABILITY TO
NEGOTIATE WITH THE FRANCHISE
TAX BOARD TO FORGIVE SOME. OR
ALL OF THE DEFERRED RENT BASED
ON INDIVIDUAL INCOME. NOW I
WOULD LIKE TO TURN THE PODIUM
OVER TO MY COLLEAGUE SENATOR
BRADFORD TO FURTHER HIGHLIGHT
THE BENEFITS THIS BILL PROVIDES
TO LANDLORDS THANK YOU. SENATE
CAREER THANK YOU SO MUCH IF
WE'RE GONNA VEGAS PAS ONE
SECOND SIR BRADFORD REMAINED A
QUICK. THIS IN FACT OF THE
PODIUM AND THE MICROPHONE. ONCE
I THINK YOU'RE SERGEANTS WERE
WORKING OVERTIME THESE DAYS
THANK YOU SO MUCH CENTER
BRADFORD GOOD MORNING THE FLOOR
IS YOURS SIR THANK YOU MISTER
CHAIRMAN MEMBERS ON I'M HONOR
TO JOIN KERR AND PRESENT US BE
FOURTEEN CAN. AND AS WE ALL
KNOW ABOUT THE ECONOMIC EFFECTS
OF COLD AT NINETEEN AND THEY
HAVE BEEN PARTICULARLY HARD ON
WORKING AND MIDDLE CLASS
HOUSEHOLDS MANY OF THESE
FAMILIES ARE RENTERS AND SOME
MORE SMALL PROPERTY OWNERS IT
IS ESTIMATED. EVEN BEFORE
COLBERT NINETEEN STRUCK OVER
MILLION A RUNNERS WERE
STRUGGLING TO- MAKE RENTAL
PAYMENTS IN ITS RUNNERS ARE
STRUGGLING THOSE LANDLORDS ARE
STRUGGLING AS WELL AS BE
FOURTEEN TEN IS UNIQUE AMONG
RESPONSES TO COVER BECAUSE IT
ADDRESSES BOTH SIDES OF THIS
EQUATION BOTH THE RENTERS AND-
LANDLORDS THE BILL WILL KEEP
TENANTS HOUSING KEEP PROPERTIES
OUT OF FORECLOSURE. AS SENATOR
CAFIERO STATED THIS IS A VITAL
MEASURE FOR TENANTS WHO ARE
STRUGGLING THIS BILL IS NOT A
HAND OUT FOR ME THE RENTER OR
THE LANDLORD BY HAND. IN
ADDITION TO THE ROOM PROTECTION
SMALL LANDLORDS WILL RECEIVE
TAX CREDITS IN EXCHANGE FOR NOT
EVICTING PARTICIPATING TENSE.
AS INTENDED TAX CREDITS CAN BE
USED IN A ANNUAL INCREMENTS OF
TEN YEARS STARTING IN TWENTY
TWENTY FOUR THESE TAX CREDITS
CAN ALSO BE SOLD BY THE
LANDLORD. WE HAVE GOOD
INDICATIONS THAT THERE IS A
MARKET AND A GREAT INTEREST FOR
THESE TAX CREDITS. FOR PROPERTY
OWNERS WOULD REDUCE RENTAL
INCOME BECAUSE OF CALL THAT
THIS BILL WILL HELP AVOID
FORECLOSURE AGAIN THIS IS
VITALLY IMPORTANT BECAUSE IF A
LANDLORD FOR CLOSES THE TENET
IS. ON HOUSE AS WELL. THIS BILL
IS IMPORTANT BECAUSE OF THE
FOLLOWING MEASURES. THERE ARE
THROUGHOUT CALIFORNIA BY RENTAL
PROPERTY AS A WAY TO PAY FOR
COLLEGE TUITION AS A WAY TO PAY
FOR RETIREMENT OR AS A WAY TO
BUILD GENERATIONAL WEALTH.
PROPERTY OWNERS ARE
PARTICULARLY IMPORTANT TO OUR
PROPERTY OWNERSHIP BY SISSY IS
PARTICULARLY IMPORTANT TO FOR
BLACK AND LATINO FAMILIES
HISTORICALLY. BANKS AND
EMPLOYERS EXCLUDED THEM FROM
TRADITIONAL MEANS OF BUILDING
AN INTER GENERATIONAL WEALTH
RACISM AND PREJUDICE MADE IT
HARDER FOR MANY TO INVEST. OR
OWN ASSETS PROPERTY AND OTHER
ITEMS THIS IS THE IS VISIBLE
TODAY IN THE DISPARITIES
BETWEEN THE AVERAGE BLACK AN
AVERAGE WHITE FAMILY INCOME
AVERAGE WHITE HOUSE SOLD HAS
TEN TIMES. MORE WEALTH THAN
AVERAGE BLACK COAT ALSO- LATINO
HOUSE SO WE DO NOT WANT TO SEE
FORECLOSURE OF RENTAL
PROPERTIES WOULD MOM AND POP
OWNERS- CAN. EXACERBATE THIS
PROBLEM THIS IS NOT ONLY BAD
FOR TENANTS AND LANDLORDS BUT
IT'S ALSO BAD FOR EQUITY IN OUR
ECONOMY ON BOTH SIDES OF THE
HOUSING EQUATION MANY TENANTS
AND LANDLORDS ARE NOW
STRUGGLING. THE IS THE ONLY
PROPOSAL I'M AWARE OF THAT
PROTECTS BOTH SIDES OF THE
EQUATION WHILE PROTECTING OUR
GENERAL FUND AS WELL. IT IS IT
DOES SO BECAUSE TENANTS MUST
REPAY MISS RENT IF THEY CAN.
AND THE TAX CREDITS WILL START
TO MATURE IN TWENTY TWENTY
FOUR. THIS IS THE PROPER
RESPONSE TO THIS CRISIS THIS IS
NOT. A SMALL PROPOSAL BUT THIS
IS A RESPONSIBLE PROPOSAL TO
HELP TRIP ADDRESS THOSE ARE
MOST IN NEED. HIS REASON
BECAUSE NO PARTICIPANT WILL
LOSE THEIR HOME FOR THEIR
PROPERTY. BOTH SENATOR CAFIERO
AND ARE CLEAR THE DISCUSSION ON
THIS BILL WILL CONTINUE. WE'RE
HERE TODAY BECAUSE EVERYONE IN
THIS BILL IS COMMITTED TO
FINDING A WILL AFFECT THE WAY
THEY KEEP PEOPLE HOUSE HERE IN
CALIFORNIA I RESPECTFULLY ASK
FOR YOUR AYE VOTE AND BRADFORD
THANK YOU SO MUCH WE'RE
GRATEFUL TO BOTH YOU AND THE
SENATE COME HERE FREE WORK ON
THIS LADIES AND GENTLEMEN WE'RE
NOW GOING TO BE GOING TO THREE
WAYS THREE WAYS. TO COMMUNICATE
WITH COMMITTEE. START RIGHT
HERE. BUT THOSE WHO ARE INSIDE.
AND BEFORE. TEN WE'RE LOOKING
THOSE TURN SUPPORT OF SB
FOURTEEN TEN. AS SOON AS WE GO
THROUGH ALL OF OUR SUPPORT
BEFORE WE GO TO OPPOSITION.
BERGEN ESTABLISH A CORNER SO
WE'LL DO THAT IN JUST A FEW
MOMENTS. SO LADIES AND
GENTLEMEN THAT SEE HERE IN ROOM
FORTY TWO OR THREE ANYONE WOULD
LIKE TO SPEAK IN SUPPORT OF SB
TEN. FOURTEEN TEN EXCUSE ME
PLEASE STEP FORWARD. KERN SEEN
NINE WERE NOW COULD BE GOING TO
ROOM TWENTY FORTY FROM TWENTY
FORTY THOSE IN SUPPORT NO ONE
IS THERE AN ROOM TWENTY FORTY.
WE'RE NOW GOING TO COMMUNICATE
WITH OUR- MODERATOR IS
MODERATOR GOOD MORNING SIR- IF
YOU COULD PLEASE QUEUE UP
ANYONE WHO MAY BE IN SUPPORT IN
SUPPORT OF SB. FOURTEEN TEN THE
FLOOR IS YOURS MISTER MODERATOR.
CERTAINLY LADIES AND GENTLEMEN
TO SHOW SUPPORT OF BILL
FOURTEEN TEN PLEASE PRESS ONE
THEN ZERO. AN OPERATOR WILL
GIVE YOUR LINE NUMBER AND
FURTHER INSTRUCTION YOU. IF YOU
ARE USING A SPEAKER PHONE WE DO
ASK THAT YOU PLEASE PICK UP THE
HANDSET BEFORE PRESSING THE
NUMBERS. WE WELCOME YOUR
TESTIMONY TODAY AS THE
MODERATOR CUES UP INDIVIDUALS
WHO WOULD LIKE TO SPEAK PLEASE
DIAL EIGHT FOUR FOUR. TWO NINE
ONE SIX THREE SIX FOUR IN IT
THAT CODE ONE ONE SIX. SIX
EIGHT FOUR EIGHT WE WELCOME
YOUR TESTIMONY TODAY HERE THE
SENATE GOVERNANCE AND FINANCE
COMMITTEE. MISTER MODERATOR
THOSE IN SUPPORT OF SB FOURTEEN
TEN ALL TURN THE FLOOR OVER TO
YOU SIR. THANK YOU WE WILL
START WITH LINE NUMBER TWENTY
FIVE LINE TO FIVE YOUR LINE IS
OPEN GOOD MORNING. BUT WILL YOU
MISTER CHAIR AND MEMBERS
GREGORY KRAMER ON BEHALF OF
DISABILITY RIGHTS CALIFORNIA
DEAR SHE HAS NOT OFFICIALLY
TAKEN A POSITION ON THE BILL
BUT WE APPRECIATE AUTHORS-
EFFORTS TO AID. PRINTERS DURING
THIS ON PRESIDENT A CRISIS AND
LOOK FORWARD TO WORKING WITH
AUTHORS ON OUR BOARD TO.
ANALYZE A FORMAL SUPPORTERS
SHORT THANK YOU. THANK YOU SO
MUCH. THE MODERATOR NEXT CALLER
PLEASE. NEXT CALLER IS FROM MY
NUMBER EIGHTEEN LINE EIGHTEEN
YOUR LINE IS OPEN GOOD MORNING.
GOOD MORNING GOOD MORNING
CHAMBER CHOIR AND MEMBERS OF
THE COMMITTEE MY NAME IS
SPECIAL COUNSEL AND I'M THE
POLICY DIRECTOR OF THE
NONPROFIT HOUSING ASSOCIATION
OF NORTHERN CALIFORNIA. WHAT WE
DO NOT OFFICIALLY HAVE THE
SUPPORT POSITION TO BE VERY
MUCH APPRECIATE THE INTENT OF
THIS BILL AND THE LEADERSHIP OF
THE SENATORS WE LOOK FORWARD TO
WORKING SENATORS COUPLE YET-
I'M BRADFORD TO ENSURE THAT IT
IS STRUCTURED IN SUCH A WAY
ABOUT IT ALSO WORKS FOR
RESIDENTS AND OPERATORS OF
AFFORDABLE HOUSING- THANK YOU
SO MUCH FOR THIS OPPORTUNITY. A
PAGER GOOD HERE YEAH THANK YOU
SO MUCH APPRECIATE THAT NEXT
CALLER PLEASE. NEXT CALLER'S
LINE NUMBER THIRTY THREE ZERO
YOUR LINE IS OPEN GOOD MORNING.
GOOD MORNING LINE THIRTY MISTER
CHAIR AND MEMBERS. GOOD MORNING
MR TURN NUMBERS THIS IS ERIN
EVENT ON BEHALF OF STAND HELP
PROPERTY COMPANY AND SUPPORT
THANK YOU SO MUCH FOR SEVEN
CITY TO HEAR YOUR VOICE NEXT
CALLER PLEASE. NEXT CALLER IS
FROM NUMBER FOURTEEN ONE FOR
YOUR LINE IS OPEN GOOD MORNING.
GOOD MORNING MEMBERS HASN'T
EVER CARLTON WITH THE
CALIFORNIA APARTMENT
ASSOCIATION I JUST WANT TO
STATE THAT WHILE WE'RE STILL
REVIEWING THE LANGUAGE WE WANT
TO THANK THE AUTHORS FOR THEIR
LEADERSHIP ON THIS. I THINK OUR
GOAL IS TO MAKE SURE AT THE
CENTER OF BRADFORD INDICATED
THAT WE DON'T END UP WITH. A
SMALL OWNERS WHO ARE FACING
FORECLOSURE THIS IS A HERCULEAN
TASK AND WE LOOK FORWARD TO
WORKING WITH YOU TO FIND THE
RIGHT BALANCE. AND AMENDMENTS
FOR FOURTEEN TEN THANK YOU YOU
CAN CROSS AND CREATE THAT
THAT'S GO TO OUR NEXT CALLER IS
MODERN. NEXT CALLER'S FROM LINE
TEN LINE TEN YOUR LINE IS OPEN.
YOUR RECORD MEMBERS MICHELENA
THE SAN FRANCISCO BAY AREA
PLANNING AN URBAN RESEARCH
ASSOCIATION HONEST FOR. WE DO
NOT HAVE A FORMAL POSITION ON
THE BILL YEAH BUT WANT TO THANK
THE AUTHORS FOR GREEN FOR THIS
EMERGENCY MEASURE. ONLY OUR
STATE AND FEDERAL GOVERNMENT TO
STEP IN AT THIS POINT TO
STABILIZE RENTERS AND BUILDING
UNDERSTOOD BY THE EFFECTS OF
THE PANDEMIC. WITH KNOWLEDGE
LEGISLATION IS A WORK IN
PROGRESS AND THERE'S MUCH MORE
TO DO WITH STAKEHOLDERS HOWEVER
WE THINK IT'S IMPORTANT TO MOVE
THE BILL NOW CONTINUE TO
PROTECT IT. PROGRAM WILL HELP
OUR STATE AND OUR RESIDENTS.
MORE QUICKLY THIS ECONOMIC OR
CAR. WILL PROVIDE RELIEF TO
HOUSE THAT HAVE BEEN. HARDEST
HIT. WE ARE DRIVE BOTH TODAY TO
ALLOW THE CONVERSATIONS TO
CONTINUE THANK YOU. MICHAEL
THANK YOU SO MUCH APPRECIATE
YOUR COMMENTS LET'S GO TO OUR
NEXT CALLER MISTER MODERATOR.
NEXT CALLER'S FROM LINE NUMBER
FIFTEEN ONE FIVE YOUR LINE IS
OPEN. GOOD MORNING THIS IS ADAM
GRAY HONESTLY GREEN LINING
INSTITUTE WELL WE DON'T HAVE A
FORMAL POSITION WE THANK THE
OFFERS FOR THIS EFFORT AND LOOK
FORWARD TO PROVIDING YOU WITH A
FORMAL LETTER OF SUPPORT IN THE
COMING DAYS FOR THIS IMPORTANT
LEGISLATION THANK YOU. THANK
YOU SO MUCH FOR THAT THANKS GO
TO OUR NEXT CALLER. THERE IS
ONE NUMBER SEVENTEEN ONE SEVEN
YOUR LINE IS OPEN GOOD MORNING.
MORNING WIRE AND- THIS IS LOOK
DELIVER ON BEHALF OF THE
CALIFORNIA. CALIFORNIA
SUPPORTIVE OF WORKING CAN
CONTACT YOU LOOK FORWARD TO
WORKING THE OPERATOR TO PROTECT
VULNERABLE TENANTS- WHILE ALSO
KEEPING PROPERTY OWNER PAUL.
THANK YOU FOR YOUR COMMENTS
THANK YOU SO MUCH WE'RE NOT
GOING TO GO TO OUR NEXT CALLER
MISTER MODERATOR. X. COLOURS
LINE NUMBER THIRTEEN ONE THREE
YOUR LINE IS OPEN GOOD MORNING.
GOOD MORNING MR CHAIRMAN
MEMBERS- ROBIN BLACK ON BEHALF
OF THE CALIFORNIA SMALL
BUSINESS ASSOCIATION- WE'D LIKE
TO ADD OUR SUPPORT TO THIS
MEASURE THANK YOU. THANK YOU SO
MUCH ROBIN WE APPRECIATE THAT.
MISTER MODERATOR HOW MANY FOLKS
WE HAVE IN THE QUEUE. WE HAVE
FOUR DIVISIONAL IN THE QUEUE
ALL RIGHT THANK YOU SO MUCH AS
MODERATOR NEXT CALLER PLEASE.
NEXT CALLER'S LINE NUMBER
TWENTY EIGHT TO EIGHT YOUR LINE
IS OPEN. GOOD MORNING. GOOD
MORNING LINE TWENTY EIGHT. ALL
RIGHT LET'S GO TO OUR NEXT
CALLER MISTER MODERATOR. NEXT
CALLER WILL BE LINE NUMBER
SIXTEEN THAT'S ONE SIX YOUR
LINE IS OPEN GOOD MORNING. YOUR
MORNING CHAIRED MEMBERS BRIAN I
GOT STUCK ON BEHALF OF THE
CALIFORNIA RURAL LEGAL
ASSISTANCE FOUNDATION. AND THE
WESTERN CENTER ON LAW AND
POVERTY. THANK THE AUTHORS ARE
BEING FOR THIS IMPORTANT
MEASURE WE LOOK FORWARD TO
WORKING WITH THEM TO ENSURE
THAT THE BILL. ADEQUATELY
PROTECTS. IMPACTED TENANTS FROM
INFECTION THANK YOU IT WAS GOOD
TO HEAR GLASS IS ALWAYS THANK
YOU SO MUCH SIR LET'S GO TO OUR
NEXT CALLER. NEXT CALLER'S LINE
NUMBER TWENTY ONE THAT'S TWO
ONE YOUR LINE IS OPEN GOOD
MORNING. THE MORNING EXACTLY
YES GOOD MORNING LINE TWENTY
ONE THE FLOOR IS YOURS YOUR
LIFE. I APOLOGIZE CHAIR AND I
WASN'T GIVEN A NUMBER I'M SORRY
ABOUT THAT THE REAL GOOD
THEY'RE NOT IN THAT WAY HEALTH
PUBLIC AFFAIRS CALLING ON
BEHALF OF CALIFORNIA YOU CAN BE
IN SUPPORT OF THE MEASURE THANK
YOU SO MUCH NO YOU'RE ALL GOOD
THANK YOU SO MUCH APPRECIATE
YOUR TESTIMONY TODAY THANK YOU.
NEXT CALLER PLEASE. NEXT CALLER
IS LINE NUMBER LOOKS LIKE THAT
ONE JUST DROPPED BUT WE DID GET
A RE CUE FROM LINE TWENTY EIGHT
MAYBE THEY FIGURED OUT THERE
MEET STATUS LINE TWENTY EIGHT
YOUR LINE IS OPEN. GOOD MORNING.
ALL RIGHT LET'S CHECK IN ONE
MORE TIME LINE TWENTY EIGHT
GOOD MORNING. MISTER MODERATOR
THAT'S GOT OUR NEXT CALLER
NUMBER. GOOD MORNING WELCOME TO
COMMITTEE YOUR LIFE. GOOD
MORNING MISTER CHAIR AND
MEMBERS MY NAME AND I FEEL LIKE
I FEAR CRYING AND I'M CALLING
ON BEHALF OF SILICON VALLEY AT
HOME WELL WE DO NOT HAVE AN
OFFICIAL POSITION WE RECOGNIZE
THAT TOO MANY CALIFORNIANS ARE
UNABLE TO PAY RENT AND ARE IN
DANGER OF. GETTING EVICTED AND
BECOMING HOMELESS SB FOURTEEN
TEN EVENTUALLY PROGRAM THANK
YOU IT'S RENTER'S HELPFUL
PROVIDING ENOUGH ECONOMIC
STABILITY FOR LANDLORDS TO
INDOOR UNTIL OUR ECONOMY
WITHOUT STRIKING THE RIGHT
BALANCE IS NOT EASY BUT WE ARE
ENCOURAGED BY THE SENATE
LEADERSHIP AND OPEN IT TO THE
VISION. OF THE PROPOSAL. THE
THINK THAT HOW DURING THE CALL
THE NAY. AND MAKE IT A- THAT
THE LOOK ON THE ALLEY AT HOME.
AND WE LOOK FORWARD TO A- TO
ENSURE THAT THE LEGISLATION
ACCOMPLISHES. LOT OF LOCAL
THANK YOU. THANK YOU SO MUCH
FOR YOUR COMMENTS. MISTER
MODERATOR LET'S DO A CHECK ON
THE QUEUE HOW MANY FOLKS IN
LINE AT THIS POINT. WE HAVE
EXHAUSTED THE QUEUE AT THIS
TIME. MISTER MODERATOR IF YOU
CAN DO IS A FAVOR CAN YOU
PLEASE DO A LAST CALL LAST CALL
FOR THOSE IN SUPPORT OF SB
FOURTEEN TEN. CERTAINLY IF YOU
ARE IN SUPPORT OF THIS BILL AND
WISH TO MAKE YOUR VOICE HEARD
YOU MAY PRESS ONE THEN IS ZERO
AT THIS TIME. THIS IS GONNA BE
OUR LAST CALL FOR IS THREE
FOURTEEN TEN LAST CALL MISTER
MODERATOR ANYONE IN THE QUEUE.
THERE IS NO ONE IN Q. AT THIS
TIME SIR ALL RIGHT THANK YOU SO
MUCH LAYS IN GENERAL COMMITTEE
BEFORE WE GO TO THOSE WHO MAY
BE OPPOSE. WE'RE GOING TO
ESTABLISH A QUORUM WE WELCOME
MR NOW MISTER NOW PLEASE CALL
THE ROLL. SENATE MCGUIRE HERE
WIRE PRESENT SENATOR MORLOCK.
SENATOR BELL. BELL PRESENT
SENATOR HERTZBERG YOUR- WHICH
BURKE PRESENT SENATOR D'AMATO.
SENATOR NIELSEN NIELSEN PRESENT
SENATOR WIENER WIENER PRESENT
YOU HAVE A COURT THANK YOU SO
MUCH A QUORUM IS BEEN ESTABLISH
WE DO KNOW THAT THE- VICE CHAIR
WILL BE HERE SHORTLY HE HATES
BEING LATE FOR ANY COMMITTEE
HEARING BUT- THEY HAVE. CUT THE
EARLY FLIGHT ADAM ORANGE
COUNTY- INTO HE IS ON HIS WAY
AND WE'RE GRATEFUL FOR HIS
FLEXIBILITY AS WELL. THANK YOU
SO MUCH OF THE VICE CHAIR. LAYS
IN GENERAL COMMITTEE LET'S GO
TO THOSE WHO MAY BE OPPOSED TO
SB FOURTEEN TEN. WE'RE GOING TO
START IN PERSON AND THEN GET TO
OUR PHONE LINES AT START HERE
IN ROOM FORTY TWO OR THREE.
ANYONE WHO'S OPPOSE CAN YOU
PLEASE STAND COME OVER THE MIKE.
AARON SEEN NINE. WE'RE NOT
GOING TO GO TO FORTY DE
EXCUSING GOING TO TWENTY FORTY.
THERE'S NO LOVE IN ROOM TWENTY
FORTY WE'RE NOT GOING TO BE
GOING TO OUR LIVE LINE WE'RE
GOING TO ASK OUR MODERATOR MUST
MISTER MODERATOR. CAN YOU
PLEASE DO THE Q. AND MAKE THE
ANNOUNCEMENT WE'RE LOOKING FOR
FOLKS WHO ARE OPPOSED OPPOSED.
TO SB FOURTEEN TEN MISTER
MODERATOR THE FLOOR IS YOURS.
THANK YOU LADIES AND GENTLEMEN
IF YOU WISH TO VOICE OPPOSITION
TO BILL SB FOURTEEN TEN YOU MAY
PRESS ONE. ZERO AT THIS TIME.
AN OPERATOR WILL GIVE YOUR LINE
NUMBER AND FURTHER INSTRUCTIONS.
WE DO HAVE SOME BETTER QUEUING
UP THE TIME. WE WILL BEGIN WITH
LINE NUMBER TWENTY SEVEN TWO
SEVEN YOUR LINE IS OPEN GOOD
MORNING. GOOD MORNING MR
CHAIRMAN MEMBERS CREAM GREASY
ON BEHALF OF THE CALIFORNIA
ASSOCIATION OF REALTORS. CD R.
IS CURRENTLY HAS AN OPPOSE MUCH
AMENDED PETITION HONESTY
FOURTEEN TEN. SEE OURS IN THE
PROCESS OF ENGAGING IN SESSIONS
WITH THE AUTHORS THAT AND I
HOPE THE- NATIONAL BE
PRODUCTIVE AND RESULT IN A MAN
BEING INCORPORATED INTO THE
BILL THE DRESSER STERN. HOWEVER
IS CURRENTLY GRANT YOU YOUR
MUST RESPECTFULLY REQUEST THE
NOBEL HONESTY FOURTEEN AND
THANK YOU SO MUCH WE REALLY
APPRECIATE IT THANK YOU SO MUCH
JUST A REMINDER ANYONE I WOULD
LIKE TO SPEAK IN OPPOSITION
PLEASE DIAL EIGHT FOUR FOUR.
TWO NINE ONE SIX THREE SIX FOUR
IN IT THAT CODE. ONE ONE SIX
SIX EIGHT FOUR EIGHT MISTER
MODERATOR. THAT'S BUT OUR NEXT
CALLER PLEASE. OUR NEXT CALL IS
LINE NUMBER ELEVEN LINE ELEVEN
YOUR LINE IS OPEN GOOD MORNING.
GOOD MORNING MISTER CHAIRMAN-
MEMBERS THE COMMITTEE RUN
KINGSTON REPRESENTING THREE
REGIONAL APARTMENT
ASSOCIATIONS. AND TWO
ASSOCIATIONS THAT COLLECTIVELY
REPRESENT THE ENTIRE STATE
ORINDA DEED RESTRICTED
AFFORDABLE HOUSING WE
RESPECTFULLY- MUST. CHOOSE THE
BUILD OUT THERE THE PRINCIPAL
REASON IS WE FOCUS ON BALLOTS
AND YEAH PRESIDENT- THE BILL
ENCOURAGES USE- JUST ABOUT MOST
TENANTS TO STOP PAYING RENT
DURING THE ENTIRETY OF. THE OUR
STATE OF EMERGENCY. WHILE THE
SAME TIME THE ALL LANDLORDS
WILL NOT REALIZE ANY BREAK CAME
AS FOR FOUR YEARS AND THEN
START TO BE ABLE TO. GIVEN THE
PRIVILEGE OF- RECEIVING RENT IN
THE FOR OF A TAX CREDIT OUR
LANDLORDS WON'T BE ABLE TO
SURVIVE FOR YEARS WITHOUT ANY-
MONEY COMING IN TO MEET THEIR
FINANCIAL OBLIGATIONS AND WE
WOULD HOPE THAT THE AUTHOR CO
AUTHORS AND COMMITTEE. I
REQUEST THAT THE BILL BE READ
POSITION TO RE DIRECTED. TO
PROVIDE THAT EQUITY THAT FORM
OF BALANCE THAT IS NEEDED- SO
IS AND BECOMES A MODEL NOT ONLY
FOR CALIFORNIA BUT FOR THE
UNITED STATES SO AT THIS TIME
WE RESPECTFULLY REQUEST THE
COMMITTEE TO- CAST TO KNOW VOTE
OR AT THE VERY LEAST AFTER THE
OFFERING CO AUTHORS. TO OUR
FOCUS ON THIS BALANCE THAT WE
TALK ABOUT THANK YOU MISTER
CHAIRMAN. THANK YOU SO MUCH.
SHE DOES COMMON TOOL ADDRESS
THOSE HERE JUST A BIT VERY
GRATEFUL SIR THANK YOU FOR THAT
WHEN I GONNA GOING TO OUR NEXT
CALLER PLEASE. OUR NEXT
CALLER'S LINE NUMBER TWENTY
NINE LINE TWO NINE YOUR LINE IS
OPEN THE MORNING. THANK YOU
MISTER THANK YOU MISTER MEMBERS
THIS IS JONATHAN THEIR BILL ON
BEHALF OF THE APARTMENT
ASSOCIATION OF GREATER LOS
ANGELES ALSO IN OPPOSITION TO
SB FOURTEEN TEN THANK YOU. FOR
YOUR COMMENTS THANKS FOR
CALLING IN PLACE IN GERMAN
WE'RE GONNA GO TO OUR NEXT
CALLER IN DOWN MISTER MODERATOR
BEFORE YOU ANNOUNCE NEXT CALLER
CAN YOU PLEASE GIVE THIS NUMBER
OF INDIVIDUALS IN THE QUEUE
PLEASE. CURRENTLY THANK YOU SO
MUCH CALLER PLEASE. NEXT CALLER
IS LINE NUMBER THIRTY ONE LINE
THREE ONE YOUR LINE IS OPEN.
GOOD MORNING HEARING MEMBERS
THIS IS- KATE FELL ON BEHALF OF
THE CALIFORNIA RENTAL HOUSING
ASSOCIATION AND WHILE WE
GREATLY APPRECIATE THE AUTHORED
ATTENTION TO THIS MATTER AND
GET THE BILL- WE MUCH
RESPECTFULLY OPPOSE AT THIS
TIME BECAUSE OF THE NEGATIVE
IMPACT OUR MEMBERS- REQUIRING
YOU KNOW THAT WE WERE CUT TAX
CREDIT IN LIEU OF RENT DIRECT
ASSISTANCE IS GOING TO BE
REALLY HARD FOR. OUR MEMBERS
ESPECIALLY THE SMALL PROPERTY
OWNERS. THAT WE LOOK FOR TO
CONTINUE CONVERSATION WITH THE
AUTHOR LEADERSHIP ON THIS ISSUE
AND HOPE TO BE ABLE TO COME TO
RESOLUTION AT THIS TIME MUST BE
ABOUT HEM THANK YOU THANK YOU
SO MUCH HIS BILL APPRECIATE
YOUR COMMENTS THIS GO TO OUR
NEXT CALLER. NEXT CALLER'S LINE
NUMBER TWENTY THREE TO THREE
YOUR LINE IS OPEN. GOOD MORNING
GOOD MORNING. GOOD MORNING THIS
IS ANASTACIO ANNAPOLIS I LIVE
IN SAN FRANCISCO MEMBER OF SAN
FRANCISCO TENANTS UNION. AND
SAN FRANCISCO AND TIED THE-
PLACEMENT COALITION WE'RE
OPPOSED TO THIS BILL. RIGHT NOW
IT'S WRITTEN IT DOES NOT
CAPTURE ALL PEOPLE SOME PEOPLE
ARE. NON FILERS RENTERS WHO ARE
NINE FILERS. WILL NOT BE ABLE
TO TAKE ADVANTAGE OF THIS. TYPE
OF AGREEMENT WITH THE LANDLORD
AND THEY WILL BE EVEN PICKED IT.
DESPITE ALL YOUR GOOD
INTENTIONS ALSO LANDLORDS DON'T
LIKE GETTING TAX CREDIT AS
YOU'VE BEEN HEARING- THEY WANT
CASH THANK YOU. THANK YOU SO
MUCH INDECISION WITH PRE SHARE
COMMENTS THANKS FOR HANGING
WITH US TODAY THAT'S GO TO OUR
NEXT CALLER PLEASE. SIX COLORS
LINE NUMBER THIRTY FIVE THREE
FIVE YOUR LINE IS OPEN GOOD
MORNING. RICHARD GOOD MORNING
MR MEMBERS MORAN WITH KERN
READING ASSOCIATE. ENDING A
SEVEN CALIFORNIA RENTAL HOUSING
ASSOCIATION AND WE DO
APPRECIATE THE OFFERS EFFORTS.
ARE YOU STILL HOWEVER WE ARE
OPPOSE UNLESS AMENDED TO
ADDRESS A LIST TO CONCERNS THAT
WE'VE OUTLINED IN OUR LETTER
AND WE LOOK FORWARD TO WORKING
pWITH- BOTH. SENATOR BAD
BRADFORD SENATOR LIKE CAMBIADO-
ON THOSE WHO MANAGE- BUT
CURRENTLY WE ARE OPPOSE UNLESS.
THE BILL AND SIGNIFICANTLY
AMENDED TO ADDRESS OUR CONCERNS
THANK YOU THANK YOU SO MUCH FOR
YOUR COMMENTS MISTER MODERATOR
THAT'S GO TO OUR NEXT CALLER
PLEASE. NEXT CALLER IS WHY
NUMBER THIRTY THREE THREE THREE
YOUR LINE IS OPEN GOOD MORNING.
GOODMORNING CARA GOOD MORNING
SENATOR SANK YOU MY NAME IS
JACK SCHWARTZ IN HANFORD
CALIFORNIA AND SENATOR HER
TODDLERS DISTRICT ON THE SMALL
LANDLORDS. AND ALSO THE STATE
YOU'RE FROM THE CALIFORNIA
RENTAL HOUSING ASSOCIATION. WE
OPPOSE THIS BILL THIS CURRENTLY
WRITTEN BECAUSE IT DOES NOT
PROVIDE A HOLISTIC CONSTRUCTIVE
APPROACH. AIMED AT WHAT IS
NECESSARY WHICH IS ONE HELPING
VULNERABLE RENTERS WHO HAVE
BEEN ADVERSELY IMPACTED BY THE
STATE OF EMERGENCY SHUTDOWN
ARISING OUT OF THE CODE BUT
NINETEEN. YOUR SISTER SMALL
LANDLORDS INVITING A TAX CREDIT
IN FOUR YEARS IN LIEU OF HAVING
A- ABILITY TO OBTAIN RESOURCES
NOW WHEN IT'S NEEDED WILL NOT
HELP- SMALL LANDLORDS IT WILL
EXACERBATE- IN THE POTENTIAL
FOR FUTURE FORECLOSURES IT WILL
ALSO EXACERBATE THE POTENTIAL
FOR FUTURE HOMELESSNESS AND
LAWSUITS ARE ASSOCIATION IS
COMMITTED TO WORKING WITH ALL
PARTIES TO COME UP WITH THE
HOMELESS A CONSTRUCTIVE
SOLUTION. THIS BILL AS
CURRENTLY WRITTEN DOES NOT DO
THAT- THOUGH I LOOK FORWARD
ALONG WITH OUR LOBBYIST TO
WORKING WITH THE AUTHORS AND
THE LEGISLATIVE LEADERS TO TRY
AND CRAFT A HOLISTIC SOLUTION
THAT BENEFITS BOTH THE
VULNERABLE RENTERS WHO WERE
ADVERSELY IMPACTED AS WELL AS
THE HOUSING PROVIDERS WHO ALL
WE WANT TO DO. IS PROVIDE SAFE
AND HEALTHY HOUSING FOR
RESIDENTS THANK YOU FOR YOUR
TIME. THANK YOU SO MUCH YOUR
COMMENTS WE APPRECIATE IT LET'S
GO TO OUR NEXT CALLER PLEASE.
AT THIS TIME WE HAVE EXHAUSTED
THE QUEUE WOULD YOU LIKE ME TO
REPRINT YES PLEASE IF YOU COULD
DO A LAST CALL LAST CALL FOR
OPPOSITION ON SB FOURTEEN TEN
MISTER MODERATOR THE FLOOR IS
YOURS. THANK YOU LADIES AND
GENTLEMEN IF YOU WISH TO SHOW
OPPOSITION AS A LAST CALL FOR
SB FOURTEEN TEN PLEASE PRESS
ONE THEN IT'S ZERO AT THIS TIME.
THE GERMAN IS FOLKS KEEP WHAT
WE APPRECIATE AT THE MODERATORS
WORK TODAY VERY GRATEFUL AS
USUAL MISTER MODERATOR LET'S
SEE IF THERE'S ANYONE IN THE
QUEUE. OPPOSITION SB FOURTEEN
TEN THIS IS LAST CALL. AFTER
REPRINT FOR LAST CALL NO ONE
ELSE HAS CHOSE TO QUEUE UP AT
THIS TIME ALL RIGHT THANK YOU
SO MUCH **** LAYS IN GENERAL
COMMITTEE WE'RE GONNA BE BRING
IT BACK TO COMMITTEE. WE'RE
GONNA KICK OFF WITH OUR
MAJORITY LEADER MISTER HURTS
FOR. THANK YOU VERY MUCH MISTER
CHAIRMAN AND- I WANT TO SAY
THAT- IN LISTENING TO THE
COMMENTS HERE FIRST OF ALL WANT
TO SAY THAT TO. SENATOR
BRADFORD IS THE CO CHAIR. OF
THE ECONOMIC RECOVERY EFFORT.
LED BY THE PRO TEM AND THAT
THIS IS ONE OF THE IMPORTANT
IDEAS THAT IS BEING FORMED OR
THAT GROUP. AND I WANT TO SAY
THAT IT'S A BALANCE IN MANY
RESPECTS AS WE FACE. NOT JUST
THE PANDEMIC. BUT THE ECONOMIC
CONSEQUENCES OF THAT PANDEMIC.
BOTH WITH RESPECT TO KEEPING
PEOPLE FROM BECOMING HOMELESS
ON THE ONE HAND. AT THE FIGURE
OUT HOW TO CREATIVELY CREATE
RESOURCES BECAUSE WE'RE NOT THE
FEDERAL GOVERNMENT WE DON'T
HAVE THE ABILITY TO PRINT MONEY
BUT THE NOTION IS THAT HOW DO
YOU DO THIS WHERE YOU CAN
CREATE DEBT RELIEF BUT WITHOUT
PUTTING ADDITIONAL BURDEN ON
THE BUDGET THAT IS REQUIRED. TO
PAY FOR SO MANY THINGS FROM
EDUCATION TO THE ARRAY OF
SOCIAL SERVICES THAT ARE NEEDED.
THAT'S THE TEST THAT WHICH
INFORMS OUR THINKING. IAN THE
ARE COMING UP WITH ECONOMIC
RECOVERY KEEPING PEOPLE FROM
BEING HOMELESS. AND YET BEING
THOUGHTFUL IN TRYING TO COME UP
WITH A SOLUTION. NUMBER ONE IS
THAT I WANTED TO SHARE WITH
RESPECT TO THE OPPOSITION. THAT
SEEMS TO BE MISSING HERE. IS
THAT THE TAX CREDITS ARE SIMPLY
A MECHANISM THAT THAT WAS TO
DEVISE TEAR. TO LESSEN THE
BURDEN ON CURRENT BUDGET AND
GIVE US HEADROOM TO BE ABLE TO
GET THE RECOVERY IN FOR THE
NEXT THREE YEARS. LANDLORDS
CONSOLE THOSE THEIR MISCIBLE
SECURITIES THEIR COMMERCIAL
PAPER. THE ONLY QUESTION IS
WHAT'S THE DISCOUNT. UNDER THE
TERMS OF THE BILL IT SAYS YOU
CAN START SELLING THEM IN
TWENTY THEIR VALUABLE TWENTY
TWENTY FOUR. ALL ONE HAS TO DO
IS LOOK AT THE MARKETS IN TERMS
WITH THE DISCOUNT RATES ARE
TODAY WE KNOW THAT A- TREASURY
SIXTEEN BASIS POINTS WHICH IS A
LITTLE BIT MORE THAN ONE TENTH
OF 1% WE KNOW THAT. THAT A- IF
SOMEBODY WANTED TO BUY A CD FOR
A YEAR IT'S ABOUT 1% SO WE KNOW
INTEREST RATES ARE REALLY LOW.
RIGHT CENTER CONVEYANCE EXACTLY
CORRECT. SO THE DISCOUNT WILL
BE SMALL SO WHAT WILL HAPPEN IS
THE LANDLORD IF THEY NEED THE
CASH TO PAY THEIR BILLS. THAT
WAS THE THEORY BEHIND THIS
COMPROMISE THAT WE TALKED ABOUT
IN THIS ECONOMIC RECOVERY
EFFORTS CENTER BRAD FOR YOU
SHOULD KNOW. COULD SIMPLY SELL
THAT'S THAT MONEY AND PAY THE
MORTGAGE. OR ANY OTHER BILLS
THE TO PAY TO STAY ALIVE. SO
THAT SO THAT THAT. PROVIDES A
LEVEL OF FLEXIBILITY. AND OUR-
TO PROTECT BOTH THE LANDLORD ON
THE ONE HAND TO MAKE SURE THEY
GET SOME REVENUE. AND THEN ON
THE OTHER HAND TO MAKE SURE THE
TENET DOESN'T BECOME HOMELESS.
IT IS SENATOR CABALLERO TALKED
ABOUT. THE IDEAS THIS IS NOT A
FREE LUNCH. THAT YOU GOT TO PAY
BACK THE LOAN. THAT THE LOAN
SIX MONTHS DON'T TALK ABOUT A
COUPLE OF THINGS THAT I MIGHT
WANT TO SUGGEST AS WE GO
FORWARD THAT WE'VE TALKED ABOUT
THAT CD MAYBE I MISTER COLLEGE
EYES. GET BACK THE REST. WE'RE
GONNA BE OUT IN THE NEAR TERM.
BUT IF YOU'RE IN TROUBLE GOING
FORWARD YOU DON'T HAVE A JOB
THERE'S A SCHEDULE INSIDE THAT
SET FORTH THE ANALYSIS IN THE
BILL. THAT SAYS HERE'S WHAT YOU
HAVE TO PAY BACK IF YOU HAVE
REAL ECONOMIC HARDSHIP YOU
WON'T. AND IF YOU HAVE THE
MONEY YOU THEN GOT TO PAY IT
BACK OVER TIME THIS IS A
BRIDGE. IT'S A BRIDGE WHICH
BASED UPON RESPONSIBILITY. IT'S
A BRIDGE BASED UPON THE
ABILITY. OF BY THE GOVERNMENT
TO TRY TO REDUCE ITS CURRENT
DEMAND ON THE BUDGET SO WE
DON'T. OTHERWISE HAVE A
CATALYTIC EFFECT OF ALL THE
OTHER THINGS ON THE BUDGET. IT
IS REALLY AN ELEGANT SOLUTION.
IN MANY RESPECTS BECAUSE OF THE
COMMERCIAL PAPER ASPECT. OF THE-
FROM TAX CREDITS. AND I WOULD
ALSO SUGGEST AS THE FOLKS WHO
OPPOSED IF YOU WOULD DO SOME
RESEARCH HE WILL FIND IS WE'VE
DONE THIS IF YOU HOLD ON TO THE
TAX CREDITS FOR YEAR. IF YOU
COULD AFFORD TO CAN'T THE JYSK
SOLEMN. YOU MIGHT GET EIGHTY
CENTS ON THE DOLLAR SOMETHING
LIKE THAT SO IF YOU GET A
HUNDRED DOLLARS IN THE IF YOU
GET ELEVEN HER DOLLAR RENT. AND
YOU GET A HUNDRED DOLLARS THE
TENET AND EIGHT HER DOLLARS THE
SALE OF YOUR TAX CREDIT. YOU
GET NINE HER DOLLARS INSTEAD OF
ELEVEN HER DOLLARS THAT UNIT.
IT KEEPS YOU ALIVE. BUT IF YOU
HAVE THE ABILITY TO HOLD ON TO
IT. FOR A YEAR. IT APPEARS THAT
IT CONVERTS TO. CAPITAL GAINS.
TAX RATE GOES DOWN DRAMATICALLY
FROM ORDINARY INCOME OF WHAT
YOU WOULD GET. AS INCOME. AS A
LANDLORDS CAPITAL GAINS NOW
THERE'S NO CAPITAL GAINS IN THE
STATE BUT THE FEDERAL
GOVERNMENT IS SIGNIFICANT
SAVINGS. SO IF YOU FACTOR THAT
IN. THE REALITY IS. TIME VALUE
OF MONEY PLUS THE CAPITAL GAINS
TREATMENT. YOU'RE ACTUALLY
GONNA MAKE MORE MONEY. ALL YOU
GOTTA DO IS GO TO YOUR ACCOUNT
AND FIND OUT IF YOU CAN AFFORD
IF YOU CAN'T DO YOU SELL IT.
BUT I WANTED TO SAY A COUPLE OF
THINGS NUMBER ONE. ZERO THIS OF
THIS IDEA OF THE FOUR YEARS IS
NOT HAVING ANYBODY TO HOLD ON
YOU DON'T HAVE TO HOLD ON
YOU'RE GONNA JUST GET PAID YOU
GET PAID A LITTLE BIT LESS BUT
YOU GET PAID MRE THAN YOU
WOULD PAY. IF YOU HAD TO A
VICTOR TENET THINK ABOUT THIS
FROM A SOCIETAL PERSPECTIVE I'M
SORRY THIS IS A REALLY
IMPORTANT ISSUE WE TALKED ABOUT
SOME SORT OF GOES ALONG TO
TERMS CAN BE TWO MORE MINUTES
THREE MORE MINUTES PROBABLY
TIMES THREE- BUT- EVENT. THE
NOTION IS THAT YOU DON'T WHAT'S
THE COST TO SOCIETY AND THE
GOVERNMENT IF EVERYBODY GETS
THROWN OUT WHAT ARE WE DOING
THE FOLKS ON THE OTHER HAND
RIGHT. SO THERE'S A COUPLE OF
QUESTIONS ONE IT TALKS ABOUT
HOW MUCH MONEY IS TO BE PAID
MAYBE THERE MIGHT BE SOME
CLARIFICATION ON THAT THE FACT
THAT THAT A- THE TEN IT
ACTUALLY HAS TO MAKE A SHOWING
THAT THEY HAVE A NEED. RIGHT I
MEAN THAT'S THE APPARENT THING
TALKING TO A NUMBER OF
LANDLORDS QUITE FRANKLY MOST
PEOPLE ARE PAYING THE RENTS BUT
IF YOU HAVE A NEED. AND YOU
REALLY IN TROUBLE WE GET TAKE
AREA TO MAKE SURE NOT PHONE
APPS THE MAYBE THE ISSUE OF THE
COLIN TERMS SHOWING INDEED.
SECONDLY THAT I TALKED ABOUT
WAS CENTER BRADFORD ACTUALLY
THIS WEEKEND WOULD YOU GO. THE
NOTION IS THAT MAYBE YOU GOTTA
MAKE SO THERE IS I'M SORRY.
MAYBE MAYBE YOU'VE GOT TO MAKE
SOME LEVEL OF THE PAYMENT IF
YOU COULD REPORT FIFTY DOLLARS
MAYBE MAKE SOME PAYMENT. TO
MAKE THAT APPROACH. THIRTY IS.
THAT THE WAY THIS IS WRITTEN IT
SAYS THAT THE LENGTH OF THE-
COLD WITH NINETEEN. URGENCY AND
MAYBE YOU HAVE SOME DEFINITION
IT'S BLANK PLUS NUMBER MONTHS.
MAYBE HAVE SOME CERTAINTY IN
TERMS OF FILLING UP THAT
BLANKET STILL BLANK THAT
REQUIRES A LITTLE BIT OF A-
LITTLE BIT ATTENTION. AND
FOURTHLY MAYBE. IF YOU IF
YOU'RE TROUBLED AND YOU AGREE
TO SAY SIX MONTHS AND YOU GET A
JOB MONTH THREE. MAYBE IT THERE
SOME STATEMENT ABOUT YOUR
ABILITY IF YOU START GETTING A
JOB OR SOMETHING HAPPENS YOUR
LIFE CHANGES. THAT THAT IT'S
MORE OF A FAIRNESS IN TERMS OF
THE BALANCE IN ALL OF THESE
THINGS. THE OTHER THE ONLY
OTHER SHOULD WANT TO RAISE THAT
ACTUALLY CAME TO ME THIS
WEEKEND. WAS WHAT'S THE IN A
RELATIONSHIP BETWEEN THIS BILL
AND SOME OF THE LOCAL
MORATORIUM'S. IF YOU ACCEPT
READ HOW DOES THAT WORK IN
RELATIONSHIP OF WHAT LOCAL
GOVERNMENTS ARE DOING SHOULD WE
HAVE PRECEDENCE OVER THIS. WHAT
HAPPENS WITH LOCAL GOVERNMENTS
SIX SIX TO DO THIS. IS A
QUESTION. BUT I JUST WANT TO
SAY THAT THIS DOES DEAL WITH
THE VULNERABLE. IT DOES DEAL
WITH SMALL BUSINESS OWNERS TO
MAKE SURE THEY'RE PROTECTED.
ARM IT IT REALLY IS THE CO
AUTHORS YOU KNOW I'VE WORKED
HARD ON THIS TOGETHER WITH THE
ECONOMIC RECOVERY GROUPS AND
REBELS BEEN PART OF THAT- TO
FOR AN ELEGANT SOLUTION TO TRY
TO MEET THE MIDDLE. AND A GUIDE
TO DEAL WITH THE BALANCING OF
ALL OF THE ISSUES TE- LAST
THING I WANT TO SAY THAT IS
WHERE I STARTED OUT WITH. IS
THAT THE EFFORT IT ECONOMIC
RECOVERY CENTER BRAD FOOD TELL
YOU HIS CLOTHES. IT'S NOT JUST.
TO WRITE ABOUT TWO CHECKS
TODAY. BUT TO AVOID SOME OF THE
PROBLEMS THAT WE HAD THROUGH
SERIES OF PREVIOUS
ADMINISTRATIONS FOR ME HAD
DOWNTURNS. AND MAKE SURE THAT
WE HOPE WE DO AS MUCH AS WE
CAN. TO WE DON'T. KNOW CUT
EDUCATION CUT SOME BASIC SOCIAL
SERVICES CRITICAL ELEMENTS.
THAT THEN CAUSE FURTHER
PROBLEMS BUT THAT THE ECONOMIC
RECOVERY MODEL GIVES A WINDOW
AND THAT'S WHAT THIS DOES AND I
ASK. THOSE IN OPPOSITION TO
UNDERSTAND. THAT THERE'S GREAT
A SOCIETAL PRESSURES HERE THAT
ARE MUCH BIGGER THAN WHAT'S
BEFORE YOU THAT WE HAVE TO
BALANCE IN TRYING TO COME UP
WITH I THINK IT ONLY GOOD
SOLUTION SO WITH THAT. I
APPRECIATE THE GENEROSITY TIME
MISTER CHAIRMAN AND I. WILL YOU
KNOW CERTAINLY WAS WANT TO ADD
THAT BECAUSE WE'VE ALL BEEN
WORKING SO HARD ON THIS TO. THE
LARGER DISCUSSION. THANK YOU SO
MUCH MRS SENATOR WE HAVE THE
VICE CHAIR THAN CENTER NIELSEN
CENTER WIENER THAN CENTER HER
TITLE. SO LET'S GO TO THE VICE
CHAIR AND A AGAIN I SAID THIS
WHILE YOU'RE GONE MISTER VICE
YEAR REALLY APPRECIATE. THIS
MORNING KNOW THAT YOU TOOK THE
FIRST FLIGHT OUT YOUR HUSTLIN
SO VERY GRATEFUL FOR YOUR
CONTINUED PARTNERSHIP THANK YOU
SO MUCH FOR SURPRISED HER.
THANK YOU MISTER AND NOW THAT
WE- CAN ONLY HAVE ONE PASSENGER
PER. DRIVER IT. GET TO YOU GET
TO GO INTO A QUEUE AT-
SACRAMENTO AIRPORT SOMETIME SO
THANK YOU FOR YOUR PATIENCE AND
I. AM SORRY THAT I DID NOT GET
TO HEAR- THE PRESENT
PRESENTATIONS- SO I WILL CONCUR
WITH SENATOR HERTZBERG THAT.
THIS IS A CREATIVE SOLUTION. I
DON'T KNOW IF I CALL. ELEGANT
BUT I TO THREE NINE WERE TERM
USED. BUT I GUESS I WOULD SAY
THE UNDER SECOND GUILT ABOUT
ALL THESE NON IS WERE THAT ARE.
IRVING PAYING FOR TO YOUR
PEOPLE WHO HAVEN'T HAD THE
CHANCE TO BUILD UP ADEQUATE
RESERVES ARE A SIX MONTH.
EMERGENCY FUND OF MY CONCERN
MISTER CHAIR IS THAT THIS IS
THIS IS A- NOT A CORE FUNCTION
OF GOVERNMENT SO YOU'RE DOING
SOMETHING. NEW AND UNIQUE AND
THAT'S PROBABLY THE BIGGER
SUBJECT THAT WE NEED TO ADDRESS
A POLICY DRAFTERS DRIFTER
GOVERNMENT EXPANSION IS
SOMETHING THAT I'VE ALWAYS GET
A LITTLE NERVOUS ABOUT. THERE'S
ALSO SOME CONCERN
CONSTITUTIONAL CONCERNS I HAVE
AND I'M I DON'T KNOW IF IT WAS
ADDRESSED EARLIER BUT WE ARE
IMPAIRING CERTAIN CONTRACTS.
AND WITH THAT I'M ALSO
UNCOMFORTABLE SO. NOT WANTING
TO BE PERHAPS A LOAN AGENT AND
GETTING INVOLVED IN IN THAT
ROUND- I'M I'M UNCOMFORTABLE
THIS TIME THAT I HAVE NO
QUESTIONS FOR THE AUTHORS I
JUST WANTED TO. SHARE MY-
THOUGHTS IN LESS THAN TWO
MINUTES YOUR- THANK YOU MISTER
CHAIR REALLY APPRECIATIVE I
SURE THANK YOU SO MUCH THAT'S
GOING TO CENTER NIELSEN OR TO
GO TO CENTER TADA. QUESTION THE
AUTHOR. PLEASE EITHER ONE SET A
CAREER AS A RAPPER WHO WOULD
LIKE TO BE A TAKE LEAD ON
QUESTIONS PLEASE QUESTION
RELATED TO OTHER. RIGHTS OF THE
LANDOWNER THE- DO DOES THIS IN
ANY WAY COMPROMISE OR CONSTRAIN
THE POLICE OR THE- RENTERS
ABILITY TO THE VET. FOUR CARS
MEANING FEELING ALLOW
ACTIVITIES FIRE HAZARDS THE
COLLECTIVE PROPERTY DESTRUCTION
POSITION ANYWAY IMPAIR THEIR
ABILITY TO INFECT OTHER THAN-
THIS WOULD PROHIBIT THAT FOR
THE IN THE CASE OF THE COULDN'T
PAY BUT THOSE OTHER FACTORS ARE
SOMETIMES SIGNIFICANT. ENERGY
NIELSEN THANK YOU FOR THAT
QUESTION EXCELLENT QUESTION AND
NO IT DOES NOT. I THANK YOU.
THANK YOU SO MUCH APPRECIATE
THAT LET'S GO TO CENTER WINNER
THEY WERE TO GO TO CENTER TITLE.
FIVE THANK YOU VERY MUCH TIMES
CHAIRMAN I WANT TO THANK. ALL
THE SENATORS FOR YA AUTHOR IN
THE LEADERSHIP FOR WORKING
THROUGH THIS- JUST LOOKING NOT
BIG PICTURE WE HAVE A HUGE-
BREWING- PROBLEM IN TERMS OF
HOUSING AND STABILITY FOR
RENTERS IN PARTICULAR
PARTICULARLY LOWER INCOME.
MIDDLE CLASS RENTERS. WHO ARE
AT SEVERE RISK OF LOSING THEIR
HOUSING AND EVEN THOUGH FOR THE
FIRST COUPLE MONTHS OF THE
QUARANTINE THE RATES EVERY
PAYMENT A PAYMENT OF RENT WERE
HIGHER. THAN HAD BEEN
ANTICIPATED. THAT IS NOT GOING
TO LAST- BECAUSE THE BEGINNING
PEOPLE MAY HAVE. MORE SAVINGS
SO ON AND SO FORTH- THEY MIGHT
BE GETTING A LAST PAYCHECKS
FROM BEFORE- THE QUARANTINE
STARTED- BUT THE LONGER THIS
GOES ON. WE'RE GONNA SEE REAL
PROBLEMS AND EVEN THOUGH WE'RE
STARTING TO RE OPEN THE
UNEMPLOYMENT IS STILL VERY HIGH
AND- IT THIS IS A AND THE LAST
THING THAT WE NEED HERE IN
CALIFORNIA. IT IS TO TRY TO GET
BACK UP ON OUR FEET
ECONOMICALLY AT THE SAME TIME
THAT WE HAVE A LARGE NUMBER OF
RENTERS WHO ARE. LOSING THEIR
HOMES WHO ARE GOING INTO
EXTRAORDINARY DIED. BUT THAT'S
NOT HOW YOU GET BACK UP ON YOUR
FEET ECONOMICALLY SO EVEN
THOUGH THIS MAY NOT BE A-
TRADITIONAL THING THE
GOVERNMENT DOES. THIS IS
ABSOLUTELY THE GENERAL ISSUE IS
ONE OF THE STABILIZING THE
ECONOMY BECAUSE LIKELY 40% OF
CALIFORNIANS RENTS. THIS IS NOT
IS A BIG CHUNK. OF OUR ECONOMY
AND A LOT OF PEOPLE WHO WERE
DOING- FOR HIM WHO ARE WHO ARE
WHICH IS WORKERS IN OUR
ECONOMY. AND WE HAVE-
OBLIGATION AS A LEGISLATURE. BY
NOT TO RECESS- IN ORDER AND
THEIR SESSION AUGUST THIRTY
FIRST WITHOUT HAVING DONE SOME
THE SIGNIFICANT THE STABILIZE.
ARE RENTERS I'M A CO AUTHOR OF
THE VARIOUS BILLS ONE BY
SOMEONE RETAIN ONE BY
ASSEMBLYMEMBER TO- TO PROVIDE
STRONGER EVICTION PROTECTIONS.
YEAH AND I THINK THERE IS SOME
GOOD IN THIS BILL IT'S A
CREATIVE APPROACH AND I.
APPRECIATE THAT IT'S A
VOLUNTARY. OFFER THE LANDLORDS
WHICH IS SOMETHING THAT CAUSES
ME. SOME CONCERN BUT I ALSO
UNDERSTAND THAT IF THE FAMILY
DOES NOT ENTER INTO IT. THERE
ARE SOME PROTECTION EVAN THEIR
OBJECTION PROTECTIONS FOR THE
TENANTS OF THAT IS A GOOD THING.
BUT THE PIECE THAT I WANT TO
FOCUS ON THAT I'M GOING TO VOTE
FOR THIS TODAY I'M GONNA.
SUPPORT MOVING IT OVER TO THE
ASSEMBLY BUT I WANTED TO.
CONVEY IN MY VIEW THE CRITICAL
OF IMPORTANCE OF FIXING THE
REPAIR A- PORTION OF THE BILL
AND THE REPAYMENT PORTION OF
THE BILL. NEEDS SIGNIFICANT
WORK ON I'M GONNA EXPLAIN WHY-
IT IS A TEN YEAR REPAYMENT BY
IT MY UNDERSTANDING IS AND
AMEND IN ADDITION- IF THERE IS
A HARSHA PROVISION. FOR PEOPLE
WHO ARE MAKING IT SLIDING SCALE
DEPENDING ON WHAT PERCENT OF
THE STATE MEDIAN INCOME- YOU'RE
MAKING- BUT THE WITH THE
CHALLENGE IS. TWO FOLD FIRST AS
I UNDERSTAND THE WHERE IS THE
CREDITS THE TO TAX CREDITS OF
THE LANDLORDS RECEIVE. THOSE
ARE VESTED THEY HAVE THOSE THEY
CAN EXERCISE THOSE CREDITS OVER
TEN YEARS AND SELL THEM U
FRONT. THAT'S EITHER CASH IN
HAND OR GUARANTEE TAX CREDIT
OVER TEN YEARS. FOR THE RENTERS
WHO ARE GETTING A DISCOUNT OR
COMPLETE WAIVER. OF THEIR
REPAYMENT. IT IS NOT GUARANTEED
AS I UNDERSTAND THAT IT IS
EFFECTIVELY SUBJECT TO ANNUAL
APPROPRIATION TO PAY FOR THOSE
TAX CREDITS AND SO IT IS NOT
GUARANTEED AND ALTHOUGH I HAVE
NO REASON TO THINK THE
LEGISLATURE WOULD HONOR THAT
EVERY YEAR WE DON'T KNOW WHAT
THE FUTURE HOLDS AND IF I'M
WRONG ABOUT THAT THEN I ASKED
TO BE CORRECTED FROM MY
UNDERSTANDING AS IT IS NOT
GUARANTEED AND SUBJECT TO
ANNUAL APPROPRIATION- AND SO I
WOULD I THINK. IT WE'D THERE'S
NOTHING THAT I CAN TELL YOU
STILL SEE THAT WOULD PREVENT US
FROM MAKING THESE. EFFECTIVELY
VESTED TAX CREDITS THE SAME WAY
THAT THE LANDLORDS ARE GETTING
THE BEST A TAX FOR THAT THEY DO
NOT HAVE TO WORRY ABOUT WHETHER
IT'S GOING TO BE BUDGET YEAR BY
BUDGET YOUR FUNDED. I THINK
IT'S IMPORTANT FOR PEOPLE TO
HAVE THAT CONFIDENCE- IN
ADDITION. THE REPAYMENT PROCESS
IS CLUNKY IT IS NOT A SEAMLESS
YOU HAVE TO DO IT I BELIEVE
THROUGH YOUR TAX RETURN. SO IF
YOU STOP BEING A CALIFORNIA
RESIDENT YOU'RE GONNA HAVE TO
CONTINUE FILE IN CALIFORNIA TAX
RETURN IN ORDER TO MAKE THE
REPAYMENT OR TO GET THE-
DISCOUNTED OR ELIMINATED.
PAYMENT AND IF YOU ARE SOMEONE
WHO DOES NOT OTHERWISE FILE
TAXES BECAUSE OF MY BIGGEST
CONCERN HERE IS FOR LOWEST.
INCOME RENTERS WHO DON'T FILE
TAX RETURNS THEY'RE NOT GOING
TO HAVE TO START FILING TAX
RETURNS. IN ORDER TO. SAY I
DON'T MAKE ENOUGH MONEY. TO
REPAY FOR PUTTING THIS NEW TEN
YEAR OBLIGATION ON NUMBER
SOMETHING THAT THEY DON'T
TYPICALLY DO BECAUSE OF POOR
THEY DON'T MAKE ENOUGH. TO FILE
A TAX RETURN. AND WE'RE ALSO
TALKING ABOUT VERY DIVERSE
COMMUNITY OF LOW INCOME RENTERS
INCLUDING RENTERS WHO DON'T
SPEAK ENGLISH. INCLUDING
RENTERS WHO ARE NOT DOCUMENTED-
AND WERE NOW SAY YOU DON'T HAVE
TO ENTER A SYSTEM THAT YOU
NEVER ANSWERED BEFORE. AND NOT
JUST ONCE AT THE BEGINNING
BECAUSE IF YOU'RE POOR CAN'T
JUST GO IN AND SAY. I ONLY MAKE
TEN THOUSAND DOLLARS A YEAR YOU
KNOW I WON A WAIVER. IT TO
WAVER YEAR BY YEAR. BECAUSE
SOMEONE COULD HAS TO RE AS THE
RE UP AND PROVE THEIR INCOME
AGAIN EVERY YEAR- AND SO WERE
WERE POTENTIALLY FOR A LARGE
NUMBER OF LOW INCOME CALIFORNIA
RENTERS. PUTTING A VERY ONEROUS
OBLIGATION ON- PARTICULARLY IF
THEY LEAVE THE STATE AT THIS
VERY COMPLICATED- AND WE'RE NOT
EVEN GUARANTEEING THAT WE'RE
GOING TO APPROPRIATE THE FUNDS.
TO FIND THAT TAX CREDIT. THAT
IS VERY CONCERNING TO ME IN ANY
OTHER CITY I MIGHT BE AGAINST.
DOES PART THIS IS BUT I KNOW.
THE PEOPLE WHO PUT TOGETHER.
HAVE BEEN WORKING EXCEPTIONALLY
GOOD FAITH TO COME UP WITH A
SOLUTION TO STABILIZE RENTERS.
BUT I WANT THAT PROCESS TO
SUCCEED I'M VERY APPRECIATIVE.
SENATOR HERTZBERG AND BRADFORD
COLOR YEREVAN TO PROTECT
EVERYONE ELSE WHO HAS MADE THIS
MOVE FORWARD I'M HAPPY TO
SUPPORT THIS BUT I WANT TO PUT
ALL OF THAT OUT THERE IN A VERY
BLUNT WAY. SO THAT IN THE
ASSEMBLY. MY REQUEST AND HOPE
IS THAT THESE CAN WORKED. SO WE
END UP. HELPING THESE P. THANK
YOU THANK YOU SO MUCH AND
WIENER IF IT WORKS FOR
COMMITTED ANY CONSIDER. A TO BE
ABLE TO HAVE ANY COMMENTS WE'RE
GONNA GO TO SENATOR HER TITLE
PLEASE ENTER COME HERE YES I
JUST WANTED TO BE ABLE AYE AYE.
THANK YOU VERY MUCH SENATOR
WINNER FOR YOU FOR YOUR
COMMENTS I TOOK COPIOUS NOTES-
THERE'S NO QUESTION THAT THE
REPLACEMENT. PROCESS IS CLUNKY
WE'VE GOT IT WE'VE GOT IT. WORK
OUT TO THE MECHANISMS A LOT
BETTER AND SO I APPRECIATE YOUR
YOUR- YOUR CONCERN. THERE TO MY%
RECOLLECTION THERE'S NO ANNUAL
APPROPRIATIONS IT THAT YOU'RE
REQUIRED I'M NOT SURE WHERE YOU
READ THAT. OR WHAT YOU-
EXTRAPOLATED INTO IT BUT BUT
I'LL GO BACK AND TAE A LOOK AT
IT ON IT'S NOT ANTICIPATED THAT
IT REQUIRES AN ANNUAL
APPROPRIATION. THAT'S NOT THE
WAY THAT THIS THE SYSTEM HAS
BEEN SET UP. YEAH WE SEE WHAT
WE CAN JUST GET CLARITY ON THAT
THAT'S WHAT I'D BEEN IMPORTANT
TERMS OF WHAT'S IMPLICIT IN THE
BELTS ON EXPLICIT. OKAY THE
CENTER OF YOUR YOU BEFORE AFTER.
CENTER DON'T HAVE SO. THANK SO
MUCH IN SENATE. I THINK TO BE
TO SAY. LOOK YOU CENTER
BRADFORD ALL INVOLVED HAVE
REALLY BEEN TRYING TO FIGURE
OUT. A MECHANISM RIGHT FOR
RELIEF. BUT OBVIOUSLY OPEN FOR-
ONGOING COMMUNICATION VIA TO
GET THIS RIGHT FOR ALL WOULD
THAT BE FAIR TO SAY I THINK
THAT'S THAT'S EXACTLY THE ISSUE
IS THAT. ON THE CHALLENGE THAT
WE HAVE. IS THE CHALLENGES
SENATOR MORLOCK LAID OUT WHICH
IS THAT YOU KNOW WHAT WE'RE
TRYING TO DO IS SOMETHING THAT
WE HAVEN'T DONE BEFORE. AND
QUITE FRANKLY WE'RE TRYING TO
DO IT IN A WAY. AS SENATOR
HERTZBERG ARTICULATED WHERE
WE'RE NOT HAVING A HUGE HIT. ON
YOU THE CALIFORNIA STATE BUDGET
BY BY DOING THE PROCESS. BUT WE
ARE MAKING SURE. THAT WE'RE
WE'RE NOT ENTERING. A TIME.
ONCE THE- THAT EXECUTIVE ORDERS
OF THE GOVERNOR HAVE THEY
LAPSED. YOU WILL HAVE.
POTENTIALLY HUNDREDS OF
THOUSANDS OF INDIVIDUALS THAT-
MONEY THAT WON'T BE ABLE TO PAY
IT BACK IMMEDIATELY. AND SO IF
LANDLORDS START THIS ADDICTION
PROCESS. THEN YOU HAVE HUNDREDS
OF THOUSANDS OF PEOPLE THAT NO
LONGER CAN STAY IN THEIR
CURRENT PLACE. LOOKING FOR
OTHER PLACES TO STAY WITH
LANDLORDS WHO HAVE VACANCIES
WHO DON'T WANT THEM BECAUSE
THEY'VE ALREADY BEEN EVICTED
FROM SOMEONE ELSE'S PLACE AND
SO. WE'RE WE'RE REALLY
STRUGGLING AND WORKING REALLY
HARD TO TRY TO FIGURE OUT HOW
THE PIECES WILL WORK TOGETHER.
AND THERE'S MORE WORK TO BE
DONE I. THINK YOU A CENTER
COVER HERO A CIGARETTE FOR DID
YOU WANT TO CHIME IN ON THIS AS
WELL NO ALL RIGHT. THANK YOU SO
MUCH THANK YOU SIR CAREER IT'S
GOING TO SENATOR TITLE AND
QUICKLY BACK TO CINDER
HERTZBERG. SENATOR HER TOWN
PLEASE. AB A WANT TO THANK BE.
FOR ALL THEIR FOR THEIR
LEADERSHIP HARD WORK ON THIS
BILL AND TRYING TO. SOLVE ISSUE
AND THE MATTER AT HAND- I DO
HAVE SOME CONCERNS MUCH LIKE
OUR MY COLLEAGUES AND WIENER
EXPRESSED ANOTHER'S. BUT I
THINK OVERALL WE NEED TO GET
SOMETHING DONE WHEN WE AND I
THINK THAT THIS IS THE
APPROPRIATE VEHICLE TO MAKE
THAT HAPPEN FOR THE FOR
CALIFORNIANS. AND SO I WILL BE
SUPPORTING A TODAY. THANK YOU
VERY MUCH. THANK YOU SO MUCH IS
GOING TO CENTER HERTZBERG GONNA
BEFORE WE GO TO CENTERS FOR
GROUP QUICK CENTER BELL DO YOU
HAVE ANY COMMENTS ON THIS AS
WELL OKAY. THANK YOU SO MUCH
CENTERS FOR RESPONSE TO WHAT
FOLKS ARE TALKING ABOUT TWO
ISSUES. YOU KNOW MAYBE SOME WE
SHOULD THINK ABOUT GIVEN BUT
CENTER WE WAS TALKING ABOUT HER
TONGUE WAS TALKING ABOUT. IS TO
HAVE. SOMEONE IN THE PROCESS WE
ACTUALLY IN THE DISCUSSION
GROUPS WE TALKED ABOUT THIS A
LITTLE BIT. WHERE IF YOU'RE
GONNA FOR CLOSE IF SOMEBODY
REALLY HAS YOU KNOW LET'S
ASSUME. TEN UNITS AND EVERYBODY
WHO'S AFFECTED. AT ALL AND
THEY'RE GETTING PARTIAL RENT.
MAYBE THERE HAS TO BE SOME
SHOWING THAT THERE'S NOT
SUFFICIENT EQUITY FOR
FORECLOSURE SOME PEOPLE OF TALK
TO ME ABOUT THAT. BECAUSE YOU
THINK ABOUT IT IT'S A SERIES OF
PRESSURES. YOU GET THE
COMPRESSIONAL TENET. YOU'VE GOT
COMPRESSION A LANDLORD. IF YOU
GET THE COMPRESSION OF THE BANK
IF THERE ARE GETTING THEIR
MONEY AND THAT THEY FOR
CLOTHES. IF THEY'RE SUFFICIENT
EQUITY IN THE PROPERTY AND THEY
COULD ACTUALLY RENEGOTIATE
MAYBE. WE COULD PUT SOMETHING
IN HERE THAT SAYS WHEN SOMEBODY
HAS A CERTAIN PERCENTAGE OF
THEIR UNITS. SUBJECT TO THESE
AGREEMENTS. THAT THERE HAS TO
BE SOME SHOWING BY THE LANDLORD
IN SOME WAYS JUST IT SEEMS TO
ME SOME SENSITIVITY THAT MIGHT.
AS WE THINK ABOUT WHAT WAS
ARTICULATED HERE. AND SECONDLY
THE ON APPROPRIATIONS I JUST
SAW THAT THAT WAS ADDED BY AN
AMENDMENT. AND I THINK THE
PURPOSE OF THAT WAS THE WAY THE
BILL READS. IS IT SAYS THEY CAN
START USING THE TAX CREDIT
TWENTY TWENTY FOUR OR TWENTY
FIVE TWENTY SIX TWENTY SEVEN.
GOING UP FOR TEN YEARS. IF
THEY'RE ALL USED IN YEAR ONE.
THAT COULD CREATE A PROBLEM IN
THE BUDGET I THINK WHAT WAS
ASKED HERE PROBABLY TALK TO OUR
CONSULTANT HERE. IN THESE
AMENDMENTS. THAT THEY WANTED TO
BE IN A POSITION JUST IN CASE.
THAT WAS TOO MUCH COMPRESSION.
AND WE'RE STILL IN THE HOLE IN
TWENTY TWENTY FOUR. WE COULD
LESSEN THE BURDEN ON THE STATE.
AND EXTEND THE- THOSE TAX
CREDITS OUT. AND I MET IF YOU
DID THAT IN IN THE LINE.
PROBLEM AFFECT THE- IN TERMS
WHAT PEOPLE WILLING TO PAY AND
DISCOUNT RATES FOR THAT. BUT I
DON'T THINK IT REALLY AFFECTS
THE- VERY. MORE KIND OF
MECHANISM THE STATE. MAKE SURE
THAT WE HAVE A- PROBLEM. GOT
SOME FLEXIBILITY. IT'S A MUCH
SENATOR FISH TED LAYS INJURED
COMMITTEE THIS. LAST CALL FROM
COMMITTEE LAST CALL COMMITTEE
FOR QUESTIONS ARE. IN QUESTIONS
COMMENTS CALL. COMMITTEE
CURRENCY NINE MOVE. ON THE
FLOOR WITH THE MOTION BY
SENATOR HERTZBERG EMOTIONS TO
PASS APPROPRIATIONS. ORGAN
PROVIDE OPPORTUNITY FOR BOTH
CENTER CUT YOUR ANSWER BRADFORD
TO BE ABLE TO. MAKE A CLOSE- AT
WIND CENTER BRADFORD CLOSE AS
WE COULD. PRAIRIE DANCES
DISINFECTED PODIUM- SECOND HERE
PLEASE FOR THE CLOSE. THANK YOU
VERY MUCH MISTER CHAIR IN THANK
YOU TO THE COMMITTEE MEMBERS
FOR A ROBUST DISCUSSION I
APPRECIATE ALL THE COMMENTS AND
THE CONCERNS- MEMBERS THE
BOTTOM LINE IS WE CAN'T AFFORD
TO DO NOTHING. WE ABSOLUTELY
HAVE TO COME UP WITH A
SOLUTION. THAT WILL PROVIDE THE
STATE WITH THE OPPORTUNITY TO
NOT HAVE TO EXPAND EIGHT
RESOURCES THAT WE DON'T HAVE
DURING THIS PANDEMIC. AND KEEP
FAMILIES FROM BEING EVICTED
AND- MAYBE BECAUSE THEY JUST
SIMPLY. CAN'T PAY THE RENT AND
DO EVERYTHING POSSIBLE. TO
PROTECT OUR LANDLORDS AS WELL.
THERE'S NO QUESTION THAT-
THEY'RE HURTING AS MUCH AS
ANYBODY ELSE AND SO I
RESPECTFULLY ASK FOR YOUR AYE
BOOK TODAY. THE CIVIC CENTER
COVER ONE MOMENT CENTR
BRADFORD AND AGAIN WE WANT TO
SAY THANK YOU SO MUCH. OF THE
SERGEANTS FOR GOING THE EXTRA
MILE. IN EACH AND EVERY. AND
THAT'S TURN IT OVER TO CENTER
BRAD PLEASE. THANK YOU MISTER
AND MEMBERS I TO WANT TO THANK
YOU FOR YOUR DISCUSSION DEBATE
HERE ON ONE THING CENTER COVER
GIRL FOR HER WORK ON THIS
EFFORT. MEMBERS IN A PERFECT
WORLD. WE WOULD NEED THIS
PROGRAM. IN A PERFECT WORLD THE
TENANT AND THE LANDLORD WORK
OUT THEIR FINANCIAL DIFF
DIFFCULTIES- WITHOUT THE
STATE'S INTERVENTION BUT WE ALL
KNOW WE'RE IN A CRISIS. WE'RE
IN A CRISIS SITUATION AND
THAT'S CENTER CAP RURAL HAS
STATED IT WOULD BE CRIMINAL OUR
PARTS THE NOT TO INTERVENE AND
DO SOMETHING IF WE CAN. IS THIS
THE PERFECT BILL BY NO STRETCH
OF THE IMAGINATION HAS IT BUT
IT'S MORE THAN WHAT WE HAVE BUT
TELL ME WHAT SCENARIO. WITH A
TENANT BUILD THE STATE IN
ANYONE'S PROPERTY. FOR SIX
MONTHS WITHOUT PAYING RENT. SO
THAT'S WHAT WE PUT THE
MECHANISMS BACK THE TENTATIVE
STILL REPORT REQUIRED TO MAKE
SOME KIND OF. PAYMENT AND NOT
BE TOTALLY IS ALL FROM THEIR
MONTHLY OBLIGATION HERE SO THE
TENANT HOUSE SKIN IN THE GAME
AS WELL BUT AT THE SAME TIME
EIGHT TEN IT NOT PAYING RENT.
LEAVE THE LANDLORD IN JEOPARDY
OF LOSING THAT PROPERTY. AND
THAT'S JUST AS BAD BECAUSE
AGAIN AT THE LANDLORD FOR
CLOSER THE ONLY DOES THAT
CREATE FINANCIAL RUIN FOR THE
LANDLORD BUT IT ALSO AFFECTS
THE TENANT. SO WE'RE TRYING TO
THREAT THAT NEEDLE CAN COME UP
WITH A PROGRAM THAT LOOKS OUT.
AT BOTH PARTIES. THIS PROCESS
TRIES TO DO THIS. OUR IF NOT
BOTH OF THEM LOOSE IN THIS
SCENARIO- AGAIN THE TAX CREDITS
ARE. AVAILABLE TO THOSE
LANDLORDS WHO CHOOSE TO TAKE
ADVANTAGE OF IT THIS IS A
VOLUNTARY PROGRAM IT'S NOT
FORCED UPON ANYONE TO
PARTICIPATE WE WOULD HOPE THAT
THE WHAT BUT THIS WOULD BE AN
INCENTIVE FOR A TENANT HI I
BELIEVE IF YOU HAD TO BE MORE
RESPONSIBLE IN PAYING BACK THE
RENT. VERSUS TOLLEY ABSOLVING
THEM OF THEIR OBLIGATION AND
THEM BEING THE VICTIM YOU HAVE
A FOUR MONTH PROCESS OF TRYING
TO FIX SOMEBODY UNLAWFUL
DETAINER THAT'S GOING TO COST A
LOT MORE MONEY SO THAT HAVE
SOME ASSURANCES AND GUARANTEES
TO THESE TAX CREDITS THAT THE
LANDLORD WILL BE MAYBE NOT A
100% MADE OLD BUT- 80% AT
SENAORS BURKE STATED NINETY
PERCENT. IS BETTER THAN NOTHING
AND THAT'S WHAT WE'RE GOING TO
ASK YOU TO PASS FROM THE DUKE
AGAIN. SOMEONE MENTIONED THE
FACT THAT YOU CAN JUST.
PARTICIPATING IS PROGRAMMING
TOTALLY AVOID RIGHT NOW. YOU
HAVE TO QUALIFY YOU HAVE TO
SHOW A NEED FOR THIS PROGRAM
YOU JUST CAN'T SAY I'M NOT
GONNA PAY MY RENT. AND BECAUSE
OF THIS PROGRAM WE'RE GONNA I'M
GONNA TAKE ADVANTAGE OF AND
JUST SIT AND MARK APARTMENT FOR
SIX MONTHS NOW. YOU HAVE TO
SHOW THAT THERE IS A FINANCIAL
NEED ON YOUR PART TO TAKE
ADVANTAGE OF THIS BUT AGAIN.
YOU'RE EXPECTED TO MAKE SOME
PORTION OF THAT RIGHT WHETHER
IT'S ON YOUR DOLLARS A MONTH
WITH ITS FIVE WHEN IT ALL THE
MONTH YOU STILL HAVE SOME
OBLIGATION. TO LIVE UP TO THAT
AND TRY TO KEEP THAT LANDLORD
WHOLE SO. CENTER CALVET IT
COVER YEAR WHEN I. WILL
CONTINUE THIS DISCUSSION ON
THIS MATTER HOW WE KNOW THE
NEED TO BRING BOTH SIDES
TOGETHER AS WE MOVE FOR. AND ON
THAT NOTE IT'S RESPECTFULLY.
VOTE FOR SENATE CAREER THANK
YOU FOR ALL YOUR WORK IN
LEADERSHIP ON THIS WE TRULY
APPRECIATE YOUR PRESENTATION
TODAY. ROBUST DISCUSS. IN
COMMITTEE TODAY THANK YOU TO
ALL MEMBERS CENTER HERTZBERG
THANKS FOR YOUR WORK ON THIS IS
WELL. INTO THE PROTEINS OFFICE.
RAISING GENTLEMAN THERE'S A
MOTION ON THE FLOOR THE MOTIONS
BY THE MAJORITY LEADER THE
MOTIONS TO PASS APPROPRIATIONS.
MR CANAL ROLL CALL VOTE PLEASE.
SENATOR MCGUIRE HIGH. WIRE ARI
SENATOR MORLOCK. SENATOR BELL.
BELL I SENATOR HERTZBERG ALL
RIGHT HERTZBERG BY SENATOR
HURTADO HI. RICARDO BY SENATOR
NIELSEN. THIRTY WIENER ALL
RIGHT THE WINNER HI FIVE ZERO
LAZY JENNA COMMITTEE THAT IS A
FIVE ZERO FIVE ZERO THE BILL IS
OUT WE'RE CLOSING THE ROLE FIVE
ZERO CLOSE THE ROOM THANK YOU
SO MUCH THANK YOU JOHN
COMMITTEE THANK YOU FOR COMING
TOGETHER ON THIS SPECIAL
EDITION OF THE GOVERNANCE AND
FINANCE COMMITTEE WE'LL BE BACK
IN TOUCH. WITH A DIGITAL
HEARING SCHEDULE AS WE MOVE
FORWARD THANK YOU ALL WE'RE JR.