Good evening sf.citi members,
I am writing to update you on today’s Board of Supervisors meeting. During today’s meeting, Supervisors Ronen and Haney officially introduced their “Mental Health SF” legislation, slated to go to the November 2019 ballot. This ordinance amends the San Francisco Health Code to establish Mental Health SF, a universal mental health program designed to provide access to mental health services, substance use treatment, and psychiatric medications to all San Franciscans; and to establish the Mental Health SF Implementation Working Group to advise the Mental Health Board, Department of Public Health, the Health Commission, the San Francisco Health Authority, and the Board of Supervisors on the design and implementation of Mental Health SF. This legislation would create the “Mental Health Service Center”, which will serve as a centralized hub for patients who seek access to voluntary, short term mental health services, psychiatric medications, triage, and subsequent referral to longer-term care and/or substance abuse treatment.
The legislation introduced did not mention the “CEO Tax” or funding sources. However, according to insight received, we understand that the CEO Tax would be calculated based on the “Executive Pay Ratio” – the ratio of the annual compensation of the person or combined group’s highest-paid employee for a tax year to the median compensation paid to the person or combined group’s full-time and part-time employees based in the City for that tax year. It is our understanding that if a person or combined group has an Executive Pay Ratio that exceeds 100:1, the person or combined group would be taxed at 0.1%. If the Executive Pay Ratio is greater than 200:1, the person or combined group would be taxed at 0.2%, and so on.
sf.citi has coordinated a meeting with Supervisors Ronen and Haney regarding their plans for Mental Health SF and the CEO tax. If you are interested in joining this meeting, please reach out to me.
Additional updates:
- The Stock Option Compensation Tax proposes a 1.12% payroll tax on stock-based compensation and is slated for the November ballot. Currently under the 30-Day Rule, the legislation will be heard at an upcoming Budget and Finance Committee on or after Wednesday, June 12th. The Budget and Finance Committee meets every Wednesday at 1pm.
- The TNC Tax proposes an additional 3.25% fee for single rides using Transportation Network Companies or competing ride-hailing companies. The surcharge drops to 1.5% for shared rides or rides in electric vehicles. Currently under the 30-Day Rule, the legislation will be heard at an upcoming Budget and Finance Subcommittee meeting on or after Wednesday, June 26th. The Budget and Finance Subcommittee meets every Wednesday at 10am.
- In March 2019, Supervisor Haney introduced a motion to hold a hearing on the 2011 Central Market Street and Tenderloin Area Payroll Expense Tax Exclusion, also known as the “Twitter Tax Break“, to discuss the impacts the tax break has had on SOMA. The hearing will take place during the Government Oversight and Audit Committee on Thursday, June 6th. As always, we will keep you updated with any relevant notes.
As always, thank you for your continued membership. Feel free to reach out if you have any further questions or concerns.
Jen
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