An initiative that would allow cities and counties to strengthen rent control qualified for the November ballot.
What backers have dubbed the Affordable Housing Act surpassed the 402,468 projected valid signatures needed to qualify by random sampling Friday, Secretary of State Alex Padilla announced early Friday evening.
The initiative would repeal the Costa-Hawkins Rental Housing Act, a 1995 law that bans rent control on apartment buildings, condominiums and houses built after 1995 and froze local rent control laws. It also allows landlords to raise rents by an unlimited amount when a unit becomes vacant.
The major supporters of the new initiative include the AIDS Healthcare Foundation, AFSCME Local 3299 and the California Nurses Association.
Most economists criticize rent control, saying it kills the incentive to build more housing and causes landlords to neglect maintenance and repair. The California Legislative Analyst and Director of Finance said in a summary of the new initiative that passage would likely result in a decrease in state and local tax revenues.
— From Staff and Wire Reports
>> Subscribe to Times of San Diego’s free daily email newsletter! Click hereFollow Us: