On June 5, 2018, San Francisco voters passed Proposition C, which imposes a new gross receipts tax of 1 percent on revenues a business receives from leasing warehouse space in San Francisco and 3.5 percent on revenues a business receives from leasing certain qualifying commercial spaces in San Francisco. Proposition C becomes operative on January 1, 2019. The proceeds of these taxes will fund quality early care and education for young children and other public purposes.
In January 2017, the Department of Housing and Community Development published statistics indicating that there is a need, on average, for approximately 180,000 housing units to be developed each year in California, while only 80,000 housing units are currently being constructed.
Parties to real estate contracts often change over time, whether as the result of an assignment, financing, or otherwise. Relatedly, additional parties (beyond those named in the underlying contract) may claim a property interest in the subject of such a contract, perhaps in connection with a security interest in the underlying fee in the form of a mortgage or a deed of trust, or a security interest in a leasehold estate by way of a leasehold mortgage.
Federal law prohibits the manufacture, possession, or use of marijuana for any purpose, including medical purposes. This prohibition notwithstanding, as of January of 2018, 29 states plus the District of Columbia have legalized marijuana for medical purposes, six states have legalized marijuana for recreational use, and Maine and Massachusetts have approved legalization measures that have not yet taken effect.