New Bond Passthrough Ordinance Amendments

New Bond Passthrough Ordinance Amendments

Ordinance 252-06, effective November 10, 2006 amended the Elections Code to require bond proposals to include a provision authorizing a 50% passthrough to tenants of the change in a landlord's property tax attributable to the bond repayment as provided for in Rent Ordinance Section 37.3(a)(6). This will ensure voters are informed of the 50% passthrough before approving a bond measure. The Ordinance also amended Rent Ordinance Section 37.3(a)(6) to also include bonds issued by the San Francisco Unified School District or San Francisco Communitly College District and approved by the voters after November 1, 2006.