AB-1771 (Ward) Limits Generational Wealth
Assembly Bill 1771 by Assemblymember Chris Ward attacks property rights with a proposed tax on the sale of a home in the first seven years after purchase. If the home were to be sold within the first three years, the tax would imposse a punitive 25% tax. This legislation would result in higher prices due to a reduced supply of homes. AB 1771 will also limit wealth-building opportunities for California's new and more diverse population of homeowners.