Ellis Act Senate Bill 464 Update

From the San Francisco Association of Realtors Advantage Online:

“SB 464 Amended

SB 464 (the anti-Ellis Act bill) still is awaiting a vote on the Senate floor. The speculation is that the bill’s author, Sheila Kuehl of Santa Monica, still does not have the votes needed for passage. But to improve her chances she has amended the bill once again by limiting its application to persons who have owned residential rental property for three years.

Six weeks ago, Kuehl amended SB 464 by inserting the following language in the bill: ‘[The bill] shall apply only to owners who acquired ownership of property pursuant to a purchase agreement or contract for exchange entered into on or after March 27, 2007.’

So, to review, SB 464 would amend the Ellis Act (the State law that allows residential rental property owners to go out of the rental business) by limiting its application to the owner of any residential real property who has owned the property for three years. In addition, SB 464 would apply only to owners who acquired ownership of property pursuant to a purchase agreement or contract for exchange entered into on or after March 27, 2007. It also would allow a public entity to require that if any tenant is at least 62 years of age or disabled, and has lived in his or her accommodations for at least one year prior to the date of delivery to the public entity of the notice of intent to withdraw pursuant to the Act, the date of withdrawal of the accommodations to be extended to one year after the date of delivery of the notice

Currently, virtually all of the Republicans and several key Democrats are opposed to SB 464. If these key Democrats reverse their positions on the bill, Kuehl could secure the votes she needs to pass SB 464. This is the last week that bills can be voted upon in their house of origin so, whether she has the votes needed for passage or not, it is likely that Kuehl will bring the bill to a vote before week’s end.”

–Previous Follow up post [sfn BLOG]
–Ellis Act a la SB 464 [sfn BLOG]
–Ellis Act getting tougher or easier [sfn BLOG]
–Leland Yee [website]
–San Francisco Tenant’s Union [website]
–the legal part of evictions [Sirkin Paul Associates]
–the low down [Senate Judiciary Committe]
–Rent vs. Buy, the old debate…in an interactive graph [sfn BLOG]