(KGTV) - An initiative to expand the ability of California's local municipalities to enact rent controls on residential properties has qualified for the November ballot.
If passed, the measure would allow cities more authority to limit rents residential property owners may charge for new tenants, new construction, and single-family homes, according to the Associated Press.
Secretary of State Alex Padilla plans to certify the measure later this month, the AP reported. Padilla said the measure received 402,468 projected valid signatures as of Friday.
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To qualify for the Nov. 6 ballot, the measure needed 365,880 signatures.
The initiative could decrease tax revenues and potentially increase government costs, to be made up by fees on rental housing owners, if passed, according to California's legislative analyst and director of finance.
The Associated Press contributed to this report.
