SB 2 (Atkins). Building Homes and Jobs Act.

Would impose a fee of $75 to be paid at the time of recording of every real estate document, including association governing documents, and collection documents. Would increase the cost to a delinquent homeowner attempting to resolve the debt to the association.

Current Status: Chaptered

FindHOALaw Quick Summary:

Under existing law, there are programs providing assistance for emergency housing, multifamily housing, home ownership for very low and low-income households, and down payment assistance for first-time buyers. SB 2 (Atkins) would add Government Code § 27388.1 enacting the “Building Homes and Jobs Act.” The bill would make legislative findings and declarations relating to the need for establishing permanent, ongoing sources of funding dedicated to affordable housing development.

The bill would impose a fee of $75 to be paid at the time of the recording of every real estate instrument, paper, or notice required or permitted by law to be recorded. This would include, but is not limited to, the following: deed, grant deed, trustee’s deed, request for notice of default, abstract of judgment, notice of default, assessment lien, release of lien, easement, notice of trustee sale, notice of completion, mechanic’s lien, maps, and CC&Rs. The fee shall be reduced, so that the fee, together with any charges or recording fees, shall not exceed a per parcel maximum charge of $225. Increasing the fees on recording documents that are generated in connection with an assessment delinquency (i.e., an assessment lien) will result in increased costs for the delinquent homeowner, as those fees would be incorporated into the delinquent homeowner’s debt pursuant to Civil Code Section 5650. (See “Collection Fees & Costs.”)

The bill would require that revenues from this fee, after deduction of any actual and necessary administrative costs incurred by the county recorder, be sent quarterly to the Controller for deposit in the Building Homes and Jobs Fund. The bill would provide that moneys in the fund may be expended for supporting affordable housing, home ownership opportunities, and other housing-related programs, as specified.  This bill would declare that it is to take effect immediately as an urgency statute.

**UPDATE: SB 2 was signed by the Governor on September 29, 2017. Its changes to the law become operative immediately. 

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View more info on SB 2
from the California Legislature's website