Sacramento, CA – State Sen. Steve Glazer (D-Orinda) introduced legislation that will help financially strapped California renters get some relief from rising housing prices by doubling the size of the state’s renter’s tax credit.
The bill, SB 1182, would increase the credit to $120 for renters filing their taxes as individuals and $240 for joint filers. It would be the first increase in the credit since 1979.
The credit goes to individuals with adjusted gross incomes of $40,078 or less and to joint filers with incomes of $80,156 or less.