Bill > AB1869

This bill clarifies that for Real Estate Investment Trusts (REITs), which are companies that own, operate, or finance income-producing real estate, exercising control over or reserving the right to control certain activities related to lodging facilities, such as setting wages, working conditions, or approving collective bargaining agreements for employees, constitutes managing or operating real property. This clarification is presented as a statement of existing law rather than a change. Additionally, the bill allows employees of lodging facilities or their representatives to provide evidence to the Labor Commissioner, a division within the Franchise Tax Board (FTB), that a REIT is directly or indirectly managing or operating a lodging facility, and the Labor Commissioner must acknowledge receipt of this evidence and provide a written response within 45 days, forwarding that response to the FTB.