Secretary of State No.
REAL ESTATE RENTS LIMITATION. INITIATIVE STATUTE. Amends Commercial Code to totally immobilize rents charged for use or occupancy of real estate beginning January 15, 1975. Prohibits property owner from receiving payment exceeding amount of rent owing on date this initiative filed with Attorney General for ballot titling. Provides for owner's petition to State Board of Equalization to increase rental rate solely by reason of inability to earn fair return on investment in accordance with stated limitations; Board hearings; appeal to independent hearing officer; Board representation of tenant on appeal. Permits legislative repeal or amendment after July 1, 1978. If the proposed initiative is adopted, undefined additional financing from state sources will be required in excess of $50,000,000 annually.
California Foundation For Economic Justice, 76 Third Street #725, San Francisco, California 94103 Telephone: (415) 362-9210; Mr. Patrick H. O'Shaughnessy, 76 Third Street, No. 725, San Francisco, California 94103; Ms. Bunny Roth, 317 Tenth Street, San Francisco, California
Failed to Qualify
Real Estate Rents Limitation California Initiative 111 (1974).