Bill > SB1090

This bill makes several changes to land use and real estate laws, primarily focusing on housing development and protections for property owners in disaster-affected areas. It amends existing laws to create specific exceptions for housing development applications submitted in ZIP codes 91001 and 91003 between January 1, 2027, and January 7, 2030, meaning that certain streamlined approval processes for urban lot splits and other housing projects will not apply in these areas during that period, unless property rights have already vested. Additionally, the bill introduces a new provision that prohibits "institutional investors," defined as individuals or entities owning 75 or more single-family properties, from making unsolicited offers to purchase real property located in areas affected by a wildfire disaster for which a state of emergency has been declared, for a period of five years from the date of the emergency proclamation. This measure aims to protect homeowners in disaster-stricken areas from potentially predatory purchasing practices by large investors. The bill also includes a legislative finding that a special statute is necessary for Altadena, an unincorporated area in Los Angeles County, to address disparities in protection from predatory development practices following wildfires.