LAHSA continues to support and sponsor AB 71, the Bring California Home Act, and its transformative mission to create $2.4 billion in ongoing funding to address homelessness in statewide and bring our unhoused neighbors home. The bill has been amended, and while it no longer contains an increase to the corporate tax rate to fund homeless services, we are fully committed to achieving our $2.4 billion revenue goal that will allow our communities to make a real impact on the homelessness crisis.
Going forward, our coalition looks forward to augmenting the revenue that continues to be identified in the bill (the Global Intangible Low Tax Income, or GILTI tax) by also securing additional ongoing funding through the 2021-22 budgeting process. By combining funding in the budget with the GILTI revenue, we can fully fund every piece of AB 71, and meet our appropriately ambitious goals. All options are back on the table, including a potential ballot measure, if we’re unable to secure a permanent source of funding to combat homelessness.
But because the bill has been amended, we need you to submit an updated letter of support as soon as possible in advance on the bill’s hearing in the Assembly Revenue and Taxation Committee. An updated template of the letter of support can be found here, and must be submitted by April 5th through the portal found here in order for your support to be included as part of the Assembly hearing.
If you have any questions about AB 71 or how to support, please contact Alex Visotzky.