The Seismic Safety Finance Act, AB 184, was introduced by Assemblymember Sandré R. Swanson (D-Alameda) on Tuesday. Assemblymember Swanson issued the following statement:
“Seismic safety is a serious ongoing concern for the State of California. It is typically cost prohibitive to seismically retrofit a home or business. AB 184 will make these retrofits easier to achieve and more affordable. By making it easier for homeowners to protect their homes in the event of an unfortunate earthquake, this bill will increase public safety and reduce the number of destroyed homes and families left in limbo during the next disaster,” said Assemblymember Swanson.
The bill provides homeowners who wish to make seismic improvements to their homes with a financing option that removes much of the upfront expense.
Supporters of the bill included the Association of Bay Area Governments, the City of Oakland, and the American Council of Engineering Companies.
The bill is a reintroduction of AB 1755 from last year, which was vetoed by Governor Schwarzenegger after passing the Legislature with strong bipartisan support.