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Wilk Responds to Passage of bill to close Prop 13 loophole

Posted: May 29, 2014 5:09 p.m.
Updated: May 29, 2014 5:09 p.m.
 

SACRAMENTO –Assemblyman Scott Wilk, R-Santa Clarita, released a statement regarding the passage of Assembly Bill 2372 (Ammiano) which closes a loophole in Proposition 13:

“As a strong supporter of Proposition 13, today I cast an ‘aye’ vote for AB 2372.”

“This bill preserves the integrity of Proposition 13 by eliminating a loophole created by shrewd accountants that were using Limited Liability Companies to avoid reassessments of commercial property when changing ownership.”

“Proposition 13’s strength is its fairness and reliability. AB 2372 strengthens Proposition 13 by leveling the playing field for all real estate investors.”

“Since Proposition 13 is protected as part of our state constitution it can only be changed by a vote of the people.”

The measure passed with 56-9 vote and will head to the Senate next.

The 38th Assembly District encompasses Simi Valley, the northern section of the San Fernando Valley and most of the Santa Clarita Valley.

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