Yee's Disaster Relief Bill Moves Through Senate

State. Sen. Leland Yee's bill to provide disaster relief for people affected by the Sept. 9 explosion and fire passed a crucial step today toward getting approved.

The state Senate Appropriations Committee and the Senate Revenue and Taxation Committee unanimously approved the bill, SBx6 21, which will require a two-thirds approval by the full Senate and Assembly Thursday before consideration by Gov. Arnold Schwarznegger.

"While our community can never be fully compensated for this tragedy, this bill will help families rebuild their lives," Yee, D-San Francisco/San Mateo, said in a news release. "SBx6 21 will provide much-needed assistance that may not otherwise be covered by insurance, PG&E or other state and federal resources."

Similar to other bills that have been passed to help those affected by fires throughout the state, SBx6 21 would allow homeowners  to continue to take advantage of the $7,000 property tax exemption for which they would have qualified if their homes had not been damaged or destroyed. In addition, the bill allows both homeowners and business owners to deduct income losses as result of the incident. 

The bill also includes assistance to the city, San Mateo County and local schools by providing a one-year reimbursement from the state for any losses of tax revenue related to the lower property assessments of damaged or destroyed homes.

The bill recommends that once the National Transportation Safety Board investigation is completed, the responsible entity would then have to pay back the state for the cost.