BOMA California's board of directors met last Thursday in Long Beach prior to the start of the 2023 Strategic Issues Conference. The meeting served as an opportunity to reflect on the past year and plan for 2024. Perhaps most importantly, it served as an occasion for the local BOMA associations to come together to connect, collaborate, and learn from each other. Thanks are due to our committed volunteers for making 2023 a successful year. We look forward to what's in store for 2024!

On Monday, the co-chairs of the Taxpayer Protection Act (TPA), submitted their legal response to the lawsuit filed by the governor and legislature seeking to remove the measure from the November 2024 ballot.

If passed, TPA would restore the two-thirds vote requirement for local tax increases established with the passage of Proposition 13 in 1978. In addition to the recent lawsuit asking to remove TPA from the ballot, two constitutional amendments designed to make it easier to raise taxes passed the legislature this year (ACA 1 and ACA 13). This issue will remain a priority of our industry given the disastrous impacts it will have on commercial real estate and the state’s economy.

California’s state legislature aims to address the drastic increase in retail theft impacting our state with the creation of a new select committee to identify policy solutions. The bi-partisan Select Committee on Retail Theft will be chaired by Assemblymember Rick Chavez Zbur (D-Hollywood) and will provide a forum to engage impacted stakeholders, including large retailers, small businesses, criminal justice reform advocates, law enforcement, and representatives of workers and the public.

Retail theft is a top issue impacting the commercial real estate industry. We applaud the Assembly for their attempt to combat this major problem and we are pleased to partner with organizations including the California Retailers Association and CalChamber on their efforts to address this issue.

The spike in homelessness over recent years has far reaching consequences for California, including negative impacts on the commercial real estate industry. Governor Newsom is championing a March 2024 ballot initiative aimed at addressing mental illness, substance abuse, and homelessness. The measure would issue a $6 billion bond to create much needed housing for people with mental illness.

Our industry will continue to support policies focused on addressing this critical issue impacting not just our businesses, but our state as a whole.