Assembly Bill 736 Could Slash Los Angeles’s Measure ULA Transfer Tax

A new state bill, Assembly Bill 736, is advancing through the California legislature and could drastically reduce Los Angeles’s controversial Measure ULA transfer tax.

The bill, introduced by Assemblymember Buffy Wicks, proposes a statewide cap of 1.5% on real estate transfer taxes, which would override higher local levies like those in Los Angeles and San Francisco.

For Los Angeles, this would represent a nearly 75% reduction from Measure ULA’s rates of 4% on sales over $5.3 million and 5.5% on sales over $10.6 million.

While Measure ULA was designed to fund affordable housing and has raised over $1 billion, opponents of the tax argue it has chilled the market.

AB 736’s implementation could lead to significant cuts in funding for affordable housing programs, according to the Los Angeles Housing Department.

The bill has been referred to the State Senate’s Committee on Local Government.

State Bill Proposes Sharp Reduction to LA’s Measure ULA Transfer Tax

Assembly Bill 736 Could Slash Los Angeles’s Measure ULA Transfer Tax

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