Background: SB 1079 was introduced earlier this year by Sen. Nancy Skinner to reduce land grabs resulting from foreclosures auctions. On August 10th, a significant new section was added to the bill that gives it some actual teeth, and it could be a huge win for tenants, land trusts, local governments, and real estate cooperatives. In brief, if a home is not purchased at auction by someone who will be living in the home (i.e., it’s purchased by profiteers who plan to flip it or manage it as a rental), then there will be a 45-day hold period in which tenants, potential owner-occupants, nonprofits, cooperatives, and others (see detail) can purchase the property by either matching or exceeding the auction’s winning bid. On August 30th, the Assembly passed the bill; On August 31st, the Senate passed it!
Need support ASAP! We need to show our support and encourage Governor Newsom to sign SB 1079! Let's make sure that big banks aren't able to convince Governor Newsom to ignore our communities' needs.
- Link to bill on Legislature’s website
- Assembly Judiciary Committee’s very helpful analysis
- August 10 bill language is also pasted here with some of our comments and highlights
Write a support letter:
- Letter that Sustainable Economies Law Center sent in support
- Letters should be emailed to firstname.lastname@example.org, with "SB 1079 (Skinner) - urge signature" in the subject line of the email, and cc:ed to email@example.com.
Spread the word!
- Sample social media post:
Homes should be for people, not profit. Corporations are ready to capitalize on the looming foreclosure crisis. Join @theselc in fighting corporate land grabs by supporting SB 1079. DEADLINE is Sept 30th! https://www.theselc.org/homes_for_communities
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