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Senate committee advances SB 1133, enabling county rent‑increase limits and creating a long‑term residential lease tax credit with restrictions
Summary
The Senate Committee on Housing advanced SB 1133 Feb. 6, a bill authorizing county rental price controls and creating a long‑term residential lease tax credit, adopting amendments that limit the credit’s refundability, carry‑forward, and filing rules.
The Senate Committee on Housing voted Feb. 6 to pass SB 1133, a measure that would authorize each county to enact a rental unit price control ordinance that caps annual rent increases at a percentage calculated from a county‑level consumer price index, and would create a long‑term residential lease tax credit for taxpayers who lease dwelling units in a county that has adopted such an ordinance.
The committee adopted a series of amendments during decision making based on the Department of Taxation’s (DOTAX) recommendations and committee discussion. Key changes recorded in the transcript include making the tax credit nonrefundable while…
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