Assemblyman Adrin Nazarian, D-Van Nuys, Thursday unveiled legislation that would provide a tax rebate to financially struggling renters and homeowners.

AB 492, the Homeowner & Renters’ Assistance Program, would reinstate and expand the Homeowners and Renters Property Tax Assistance Program to include all California homeowners and renters who make under $30,000, according to the lawmaker.

“We are facing a housing and homelessness crisis in California. The Homeowner & Renters’ Assistance Program will help families stay in their homes,” Nazarian said.

Former Gov. Arnold Schwarzenegger de-funded the program in the 2008 budget with a line item veto, and AB 492 would reinstate and expand the program to anyone making under $30,000, paying $50 or more rent per month or who owns and lives in their own home, Nazarian’s office said.

“Struggling homeowners and renters earning less than $30,000 are already making tough decisions on whether to pay rent or buy groceries,” Nazarian said. “A rebate around $400 will help ease the financial burden of families trying to stay in their homes.”

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