Last Friday was the first house deadline in the California Legislature. While many bills failed, the majority of bills passed through either the Assembly or Senate, and now make their way to the other house. September 14th marks the deadline for each house to pass bills, and October 14th marks the last day for the Governor to sign or veto bills.

With the first house deadline behind us, BOMA California has provided an updated list of priority bills of interest to the office, industrial, and retail real estate industry.

On Monday, The Los Angeles Area Chamber of Commerce released a highly sourced and well thought out study on California's competitiveness. 

In his CalMatters article reviewing the study, Dan Walters discusses California's declining competitive edge, stating the following: "Unfortunately, one senses that those in the Capitol lack awareness that California is competing with other states for job-creating investment. Their prevailing attitude is that California will always be an economic powerhouse no matter what expenses and regulations are imposed on employers at the behest of powerful interest groups. The facts presented by the Los Angeles chamber’s study underscore the fallacy of that assumption."

While proposing a tax decrease for companies with under $1.5 million in annual revenue, the companies currently responsible for the vast majority of corporate tax liability will face a tax increase under the recently amended Senate Bill 220, sponsored by the Senate Committee on Budget and Fiscal Review. The bill, which was recently labeled a job killer by CalChamber, will worsen California's economic competitiveness by raising the cost of doing business in the state. Given the harm this bill would do to the economy, BOMA California has joined the opposition.