State lawmakers look to give California renters a break

By, John Brenneise, NewsRadio KFBK

California has not changed the Renter's Tax Credit in 40 years. In that time, rents across the state have tripled. Now, a bipartisan group of lawmakers wants to give renters a break.

Senator Steve Glazer represents East Bay communities long-seen as an affordable alternative to San Francisco. He wants to make housing tax credits more equitable.

"The state currently provides over $6 billion in tax relief for homeowners, but for renters it adds up to about a measly $140 million. So this would provide a substantial boost for renters," said Senator Glazer.

Filers with kids would receive $434 up from $60 for single parents, and $120 for couples.

Riverside County Senator Richard Roth says rents have gone up five percent this year in his district.

"That's a very difficult number to meet if you're living paycheck to paycheck. This renter's tax credit will give renters a break when they need it the most," said Senator Roth.

If approved, the change would take effect next January 1.