SACRAMENTO (AP) — California would cover rent payments for some low-income residents impacted by the coronavirus under a proposal unveiled Tuesday that is backed by state Senate leaders.
Under the plan, the state would give landlords tax credits equal to the value of their missed payments, which they could keep or sell. Tenants would then have up to 10 years to pay back missed rents to the state, with some not having to pay the full amount because of an unspecified hardship exemption.
"This is not a giveaway to anyone," Democratic Sen. Steven Bradford said. "Our goal is to keep tenants housed and keep landlords out of foreclosure."
The proposal is part of an ambitious new economic recovery plan that includes a separate $25 billion economic recovery fund t