Wippler and Kaplan Outline Measure ULA Planning Considerations in The Recorder

08.27.2026

Stinson LLP Partner Michael Wippler and attorney Alex Kaplan authored an article in The Recorder examining how Los Angeles real estate professionals can plan around Measure ULA following a recent legislative compromise that preserved the transfer tax while creating new rules for future local taxes.

Wippler and Kaplan explain that although a proposed ballot initiative to repeal Measure ULA was withdrawn as part of the compromise, the tax remains in effect with no sunset provision. They discuss what that means for developers, investors, lenders and others evaluating Los Angeles real estate transactions, including the need to account for the tax as a significant transaction cost when modeling potential deals.

The authors also identify potential opportunities to reduce ULA exposure, including a recently adopted Los Angeles pilot program that can lower the effective tax rate for certain residential projects with an affordable-housing component. They also discuss a proposed exemption for residential properties affected by the 2025 Palisades Fire and explain how the shelving of broader tax relief could make transaction structuring increasingly important for managing ULA costs.

Wippler and Kaplan further examine the potential implications of Assembly Constitutional Amendment 22, which California voters will consider in November. If approved, the measure would require two-thirds voter approval for future local special taxes, potentially making it more difficult for other California municipalities to impose similar taxes and creating broader considerations for real estate investment and capital allocation across the state.

Wippler focuses his practice on business counseling, negotiating and documenting business and real estate transactions, and commercial litigation for clients across many sectors, including manufacturing, construction, automotive and energy. 

Kaplan's practice focuses on general corporate and transactional matters, including entity formation, governance, contract negotiation, and mergers and acquisitions.

To read more, visit The Recorder.