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Los Angeles Property Management - Legislative Initiatives Affecting Los Angeles Property Management

proposition 22 proposition 23 proposition 25

Proposition 22 appeared on the November 2010 California ballot as an initiated constitutional amendment. It was approved by a majority of 60.8% of California voters. An initiated constitutional amendment is one that has been vetted through the legislature and appears on the general election ballot for approval by the voters.

Proposition 22 protects local funds from state use. Prior to its passage, the state government could re-direct funds away from local government to cover the cost of state-provided services. Supporters of Proposition 22 argued that such confiscation left local governments unable to pay for vital services such as police protection and transportation. Opponents of Proposition 22 argued that, with such additional funds, the state would be unable to pay for its vital services such as education.

Proposition 22 ensures that the revenues derived from local governments remain in local control. The passage of this legislation ensures that funds collected at the local government level are available for transportation, redevelopment, business retention and expansion services, and other uses that are vital to the health of Los Angeles Property management.

Proposition 23

Proposition 23 appeared on the November 2010 California ballot as an initiated constitutional amendment. It was defeated by a majority of 61.4% of California voters. If passed, Proposition 23 would have delayed the implementation of the Global Warming Solutions Act of 2006 until such time as the unemployment rate in California falls below 5.5% for four consecutive quarters. Proponents of this legislation argued that Proposition 23 is a Jobs Initiative. Opponents argued that it is a Dirty Jobs Initiative.

At the heart of the matter is the expense of lowering greenhouse gas emissions. The Global Warming Solutions Act of 2006 mandates that greenhouse gas emissions be reduced to 1990 levels by 2020, beginning in 2012. In spite of lively debate among the scientific community, no true link has been established between greenhouse gases generated by humans and their effect on global warming. Global warming itself is still simply a theory.

The one reality, however, is that reducing greenhouse gas emissions will place a tremendous financial burden on businesses. In the manufacturing sector, it will require a retooling of entire factories. In the Los Angeles property management sector, it will require that properties meet certain “green” standards prior to occupation. Improvements may include window replacement, installation of solar panels, improved waste management systems, and other such accommodations.

Property managers argue that these upgrades are cost-prohibitive in the current economic situation. Businesses argue that they will be forced to choose between upgrading their buildings and hiring new workers.

Los Angeles property managers should note that the net result of Proposition 23 would be an increase in energy costs at a time when business and residential occupants can least afford such costs.

Proposition 25

Proposition 25 appeared on the November 2010 California ballot as an initiated constitutional amendment. It was approved by a majority of 54.8% of California voters.

On its surface, Proposition 25 changes the legislative vote requirement to pass a budget and spending bills. Under the California constitution, such bills required a two-thirds majority to pass. Proposition 25 reduces that requirement to a simple majority. It also stipulates that, should the legislature not pass a budget by June 15, members of the California House and Senate forfeit salary and per diem reimbursements until such time as a budget is passed.

While a timely budget is an admirable thing, the reduction in the number of votes required to pass the budget opens the floodgates regarding the quality and fairness of future budgets. In other words, this bill offers no protection to California businesses regarding higher taxes, fees, and business operating expenses. With a larger vote requirement to pass a budget, it is less likely that the budget will pass with amendments that encourage higher business taxes. With the lower vote requirement, California may try to balance its budget on the backs of local businesses.

Increased taxes, fees, and business operating expenses negatively impact the ability of a Los Angeles property management firm to attract and retain business. Vacant properties are a drain on the finances of any Los Angeles property management firm, and they are a blight on the community, further reducing property values.

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