City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
240728
Name:
Business and Tax Regulations Code - Transfer Tax
Reduction for Union Labor-Built and Union Pension
Fund-Financed Housing
Status:
Type:
Ordinance
30 Day Rule
File created:
In control:
6/25/2024
Budget and Finance Committee
On agenda:
Final action:
Enactment date:
Enactment #:
Title:
Ordinance amending the Business and Tax Regulations Code to reduce the real property transfer tax
rates from 5.5% to 3% when the consideration or value of the interest or property conveyed is at least
$10,000,000 but less than $25,000,000; and from 6% to 3% when the consideration or value of the
interest or property conveyed equals or exceeds $25,000,000 for transfers of certain properties with at
least 12% rent-restricted affordable units, that were constructed using union labor, and had a debt or
equity investment of at least $25,000,000 from a union pension fund at the time of the transfer; and
affirming the Planning Department’s determination under the California Environmental Quality Act.
Sponsors:
Ahsha Safai, Connie Chan
Attachments:
1. Leg Ver1, 2. Leg Dig Ver1, 3. Referral FYI 070124, 4. Referral CEQA 070124
Action By
Date
Action
Result
Ver.
ASSIGNED UNDER 30 DAY RULE
President
6/25/2024
1
REFERRED TO DEPARTMENT
Clerk of the Board
7/1/2024
1