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Senate committee advances SB 293 to protect intergenerational homeownership after Altadena wildfires
Summary
The Senate Committee on Revenue and Taxation advanced SB 293, which would extend deadlines for property-transfer paperwork and bar retroactive reassessment for homes damaged or destroyed in qualifying declared emergencies, after testimony from Altadena residents and assessors.
Senator Perez introduced Senate Bill 293, the Generational Homeownership Protection Act, and the Senate Committee on Revenue and Taxation voted to move the bill to the Committee on Appropriations after testimony from community members and county assessors.
SB 293 would allow homeowners who lost or sustained damage to their homes in a declared emergency to update property-transfer records without penalties and would extend the filing deadline for certain intergenerational transfer paperwork from six months to three years. Senator Perez said the bill is intended to help families in Altadena whose homes were passed down informally and who now face barriers to rebuilding and to claiming property tax exemptions.
“SB 293, the generational homeownership protection act, will ensure…
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