Tax Relief

Senator Borgea’s tax relief regulation for forest hearth victims passes

Senator Andreas Borgeas

Sacramento, California – Senate Act 202, drafted by Senator Andreas Borgias, was unanimously approved by both houses of the California legislature. Senate Act 202 extends the deadline by two years for a taxpayer to carry over their base year value to comparable property in the same district if their home has been destroyed by a disaster. Senate Law 202 is now waiting for the governor’s signature. Senator Borgeas explains

“California has seen an unprecedented number of forest fires in recent years that have decimated countless homes across the state. SB 303 offers the victims of forest fires additional relief by giving eligible residents a total of seven years to build or buy a new home. The state of California should do everything in its power to help the victims of forest fires. “

The full text of the law can be found here

Written by Nic Peterson

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