SACRAMENTO (CBS13) — After both houses of the California State Legislature passed a statewide rent control bill last week, it still awaits Governor Newsom’s signature.

The bill would cap rent increases at 5% plus inflation until January 1, 2030.

READ MORE: Statewide Rent Control Bill AB1482 Passes State Senate, Heads To Gov. Newsom’s Desk

The California Senate approved voted 25-10 last Tuesday to approve Assembly Bill 1482 from Assemblymember David Chiu (D-San Francisco). The cap would not apply to housing built within the last 15 years, single-family homes not owned by corporations or trusts, and duplexes where the owner lives in one of the units.