Building Homes and Jobs Act (SB 2)

SB 2, the Building Homes and Jobs Act, was signed into law by Gov. Brown on Sept. 29, 2017. This bill creates a permanent funding source for affordable housing through a $75 fee on real estate transaction documents. The fee is capped at $225 per transaction and exempts commercial and residential sales; most of the fees will be raised on refinancings. It is estimated to bring in $200-$300 million annually.

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