Big boost for renter credit in California

San Mateo Daily Journal
By Corey Browning

California’s tax credit for renters could soon increase after remaining stagnant for more than 40 years if a bill with broad bipartisan support introduced this week moves ahead.

The legislation, Senate Bill 843, was introduced Wednesday by state Sen. Steve Glazer, D-Contra Costa, with 43 co-authors, including local legislators state Sen. Josh Becker, D-San Mateo, and Assembly Speaker pro Tem Kevin Mullin, D-South San Francisco.

The law would increase the existing $60 credit for single filers to $500, and the $120 credit for heads of household, surviving spouses or joint filers to $1,000. The larger deduction would also for the first time be available to single parents. Single filers earning $43,533 or less and joint filers earning $87,066 or less would be eligible...

“California renters are caught between the soaring costs to keep a roof over their heads and the scarcity of affordable housing,” [Senator Becker] said in a statement. “No one feels the squeeze as much as low-income families. They often have no options but to pay rising rents.”