Housing: relocation assistance.
A significant aspect of AB 2763 is its focus on ensuring that public entities cannot proceed with a project that results in displacement unless comparable replacement housing is available. This aims to prevent situations where tenants are forced out without adequate options. The California Tax Credit Allocation Committee will now be required to obtain a displacement prevention analysis from housing credit applicants, which must detail feasible alternatives to displacing current tenants.
Assembly Bill 2763, introduced by Assembly Member Bloom, aims to enhance protections for tenants facing displacement due to public projects. It amends various sections of the Government Code and the Health and Safety Code to redefine what constitutes a public entity and what factors lead to displacement. This bill specifically expands the criteria for displacement to include rent increases exceeding 5% within a 48-month period, triggered by a public entity's actions regarding housing development using low-income housing tax credits.
The bill has sparked discussions around tenant protections and local government authority. Supporters argue that it is a necessary step towards preventing tenant displacement and ensuring low-income residents have a safety net when developments are undertaken. However, opponents raise concerns about the potential constraints this may impose on housing development projects, arguing that strict requirements could deter investment in new housing projects, potentially exacerbating California's housing crisis.