SACRAMENTO (AP) — The state Senate has approved a bill that would penalize home buyers, investors and developers if they fail to clean up dilapidated homes quickly.
The legislation is designed to reduce neighborhood blight caused by a high level of foreclosures.
SB1472 by Democratic Sen. Fran Pavley gives buyers 60 days to make repairs before local governments can begin assessing fines. Buyers can face fines of up to $1,000 a day if they don't act within that window.
Pavley, of Agoura Hills, says blighted homes lower surrounding property values and can lead to higher crime. Her bill is part of a package of mortgage-related bills proposed by state Attorney General Kamala Harris and is the first to clear either legislative chamber.
The bill was approved unanimously Thursday and goes to the Assembly.