Disaster Relief Legislation for Victims of California Fires Announced
The Governor has officially proclaimed seven states of emergency for Los Angeles, Orange, Riverside, Santa Barbara, San Bernardino, San Diego and Ventura Counties. In addition, President Bush has issued a declaration of a state of emergency for California which will allow the flow of federal resources to the affected counties.
The declarations will bring much needed federal and state assistance to the people of California in our time of need, said Nava. It is imperative that federal and state resources are available to the victims of these devastating fires. It is our responsibility to step up and provide the needed relief during this difficult time.
The state legislation will allow victims whose homes are damaged to receive homeowner property tax exemptions during the repair and rebuilding phase even if the property cannot be lived in during that time. It will also allow taxpayers to deduct excess disaster losses not compensated for by insurance for up to five years on income tax returns. The state will also reimburse local property tax losses to the affected counties resulting from the downward property tax assessments of properties damaged by the fires.