In order to fund affordable housing, this bill would impose a fee for all documents that must be recorded in California, including governing documents.
From the Legislative Counsel’s Digest:
The bill would impose a fee, except as provided, of $75 to be paid at the time of the recording of every real estate instrument, paper, or notice required or permitted by law to be recorded. By imposing new duties on counties with respect to the imposition of the recording fee, the bill would create a state-mandated local program. The bill would require that revenues from this fee be sent quarterly to the Department of Housing and Community Development for deposit in the California Homes and Jobs Trust Fund, which the bill would create within the State Treasury. The bill would provide that moneys in the fund may be expended for supporting affordable housing, administering housing programs, and the cost of periodic audits, as specified.
This bill poses several concerns for associations. Associations record numerous documents throughout the year, and this legislation could result in increased expenses for HOAs.