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Supervisors introduce $100M+ Babies and Families fund to expand childcare, paid by higher commercial rent tax
Summary
Supervisors Kim and Yi introduced ordinance language to create a Babies and Families fund funded by raising the commercial rent tax; the proposal would increase the tax on most commercial uses and dedicate proceeds to early childhood education, workforce supports and improved pay for childcare workers.
Supervisors Kim and Yi introduced legislation on Jan. 9 to create a Babies and Families fund that would finance a large expansion of early childhood education and childcare supports, beginning with seed revenue redirected from an increase to the city’s commercial rent tax.
Under the legislation description presented to the board, the proposal would: raise the commercial rent tax rate by 3.5 percentage points for most commercial uses such as offices and chain retail, add 1 percentage point for warehouses, and continue exemptions for small property owners under $1 million in gross receipts and for…
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