Bill Text: CA AB2046 | 2011-2012 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Property taxation: change in ownership: exclusion:

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-09-30 - Chaptered by Secretary of State - Chapter 817, Statutes of 2012. [AB2046 Detail]

Download: California-2011-AB2046-Introduced.html

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BILL NUMBER: AB 2046	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Members Allen and Huffman

                        FEBRUARY 23, 2012

   An act to add Section 62.5 to the Revenue and Taxation Code,
relating to taxation, to take effect immediately, tax levy.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2046, as introduced, Allen. Property taxation: change in
ownership: exclusion: floating homes.
   The California Constitution generally limits ad valorem taxes on
real property to 1% of the full cash value of that property. For
purposes of this limitation, "full cash value" is defined as the
assessor's valuation of real property as shown on the 1975-76 tax
bill under "full cash value" or, thereafter, the appraised value of
that real property when purchased, newly constructed, or a change in
ownership has occurred. Existing property tax law specifies those
circumstances in which the transfer of ownership interests results in
a change in ownership of the real property, and provides that
certain transfers do not result in a change of ownership.
   This bill would provide that a transfer of a floating home marina,
as defined, to a nonprofit corporation, stock cooperative
corporation, limited equity stock cooperative, or other entity formed
by the tenants of a floating home marina for the purpose of
purchasing the floating home marina does not constitute a change in
ownership, provided that a specified condition is met.
   By imposing new duties upon local officials with respect to
changes in ownership of floating home marinas, this bill would impose
a state-mandated local program.
   The California Constitution requires the state to reimburse local
agencies and school districts for certain costs mandated by the
state. Statutory provisions establish procedures for making that
reimbursement.
   This bill would provide that, if the Commission on State Mandates
determines that the bill contains costs mandated by the state,
reimbursement for those costs shall be made pursuant to these
statutory provisions.
   Section 2229 of the Revenue and Taxation Code requires the
Legislature to reimburse local agencies annually for certain property
tax revenues lost as a result of any exemption or classification of
property for purposes of ad valorem property taxation.
   This bill would provide that, notwithstanding Section 2229 of the
Revenue and Taxation Code, no appropriation is made and the state
shall not reimburse local agencies for property tax revenues lost by
them pursuant to the bill.
   This bill would take effect immediately as a tax levy.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: yes.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 62.5 is added to the Revenue and Taxation Code,
to read:
   62.5.  (a) Notwithstanding any provision of this chapter, a change
in ownership shall not include a transfer of a floating home marina
to a nonprofit corporation, stock cooperative corporation, limited
equity stock cooperative, or other entity formed by the tenants of a
floating home marina for the purpose of purchasing the floating home
marina, provided that the individual tenants who were renting at
least 51 percent of the berths in the floating home marina prior to
the transfer participate in the transaction through the ownership of
an aggregate of at least 51 percent of the voting stock of, or other
ownership or membership interests in, the entity that acquires the
floating home marina.
   (b) For purposes of this section, "floating home marina" has the
same meaning as defined in Section 800.4 of the Civil Code.
  SEC. 2.  If the Commission on State Mandates determines that this
act contains costs mandated by the state, reimbursement to local
agencies and school districts for those costs shall be made pursuant
to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of
the Government Code.
  SEC. 3.  Notwithstanding Section 2229 of the Revenue and Taxation
Code, no appropriation is made by this act and the state shall not
reimburse any local agency for any property tax revenues lost by it
pursuant to this act.
  SEC. 4.  This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.