Important update on Senate Bill 789: Following strong opposition from industry stakeholders—including many of our clients and partners—the proposed $5/SF vacancy tax has been removed. ✅

However, we remain opposed to the bill. The amended bill would require non-residential property owners to report detailed vacancy information annually or face state-imposed penalties. As the California Business Properties Association states, “this unnecessary and expensive data collection mandate will cost the state millions and deliver little value.”

Thank you to the California Business Properties Association for the continued advocacy and for keeping the industry informed.

Read more: https://cbpa.com/news