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You are here: Home | Member News | Red Alert Update: Assembly does not act on AB 71

Red Alert Update: Assembly does not act on AB 71

REDALERT PIC

The state Assembly failed to act on AB 71 (Chiu), a bill that eliminates the mortgage interest deduction (MID) on second homes. C.A.R. opposed the bill and any attempt to limit or alter the mortgage interest deduction.

In advance of a possible floor vote in the Assembly, C.A.R. issued a series of Red Alerts, asking REALTORS® in targeted legislative districts to call their Assembly member to urge them to vote "NO" on the bill. Others were asked to help spread the word on social media. And Key Contacts – our first-line volunteers who work day-in and day-out with legislators with whom them have a personal relationship – worked to educate the legislators and their staff about the MID and the need to preserve it.

Because AB 71 has an "urgency" clause, it can still be voted on any time before the end of session in early September. And we will be asking some of you to reinforce your legislator's opposition to the bill by sending emails or posting to social media. Be looking for that Red Alert early next week.
Thank you to everyone who took action on this bill so quickly. It really does take an army – a REALTOR® army!

See the full details.

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