July 19, 2011
A bill that would have restored a state program that loans seniors money for payment of property taxes, AB X1 34 (Blumenfield), was vetoed by the Governor due to its estimated costs. In his veto message, Governor Brown wrote that the “state cannot afford the $19.3 million that the Department of Finance estimates [AB X1 34] would cost during the 2011-2012 fiscal year or the continuing estimated annual revenue cost of $30 million.”
An alternative property tax deferment bill exists in the legislature in the form of AB 1090 (Blumenfield), which would allow each county to set up a similar loan program to AB X1 34. AB 1090 was amended earlier this year at the urging of CLTA to remove a superlien provision from the bill.