CA AB1755

Enacts the Seismic Safety Finance Act to authorize cities, counties, and city-counties to establish voluntary contractual assessment programs to finance seismic strengthening improvements on residential, commercial, industrial, agricultural, or other real property.

Prohibits public agencies from allowing property owners to participate in the program if total annual property taxes and assessments would exceed 5% of the property's market value at the time of approval.

Requires preliminary reports for contractual assessment programs to include criteria for underwriting requirements and safeguards to ensure total annual property taxes and assessments do not exceed 5% of property market value.

Permits property owners to directly purchase equipment and materials and contract for installation of seismic strengthening improvements with written consent from the authorized public agency official.

Establishes that seismic strengthening improvements include permanent safety upgrades such as cripple wall seismic strengthening and sill plate anchorage of light, wood-framed buildings.