AB 668 — Property taxation: assessment: affordable housing.

Summary

Existing law requires the county assessor to consider, when valuing real property for property taxation purposes, the effect of any enforceable restrictions to which the use of the land may be subjected. Under existing law these restrictions include, but are not limited to, zoning, recorded contracts with governmental agencies, and various other restrictions imposed by governments. Existing property tax law establishes a welfare exemption under which property is exempt from taxation if, among other things, that property is used exclusively for religious, hospital, scientific, or charitable purposes and is owned and operated by an entity, as provided, that is itself organized and operated for those purposes. Under existing property tax law, the welfare exemption applies to property that is owned and operated by a nonprofit corporation, otherwise qualifying for the welfare exemption, that is organized and operated for the purpose of building and rehabilitating single-family or multifamily residences for sale, as provided, at cost to low-income families. This bill would require the county assessor to consider, when valuing real property for property taxation purposes, a recorded contract with a nonprofit corporation that meets prescribed requirements, including requirements that the nonprofit corporation has received a welfare exemption for properties intended to be sold to low-income families who participate in a special no-interest loan program, and that the contract includes a restriction on the use of the land for at least 30 years to owner-occupied housing available at affordable housing cost. By changing the manner in which county assessors assess property for property taxation purposes, this bill would impose a state-mandated local program. This bill would incorporate amendments to Section 402.1 of the Revenue and Taxation Code proposed by AB 1251, to be operative only if AB 1251 and this bill are both chaptered and become effective on or before January 1, 2016, and this bill is chaptered last. 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.

Bill Text

• Chaptered 10/09/15 - Chaptered Current pdf October 09, 2015
• Enrolled 09/11/15 - Enrolled pdf September 11, 2015
• Amended 09/01/15 - Amended Senate pdf September 01, 2015
• Amended 06/25/15 - Amended Senate pdf June 25, 2015
• Amended 05/05/15 - Amended Assembly pdf May 05, 2015
• Amended 03/26/15 - Amended Assembly pdf March 26, 2015
• Introduced 02/25/15 - Introduced pdf February 25, 2015
• AB668 View text html

Action History

1. October 09, 2015

   Chaptered by Secretary of State - Chapter 698, Statutes of 2015.

2. October 09, 2015

   Approved by the Governor.

3. September 17, 2015

   Enrolled and presented to the Governor at 4 p.m.

4. September 09, 2015

   Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 3016.).

5. September 09, 2015

   Assembly Rule 77 suspended. (Page 2990.)

6. September 08, 2015

   In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 10 pursuant to Assembly Rule 77.

7. September 08, 2015

   Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0. Page 2584.).

8. September 02, 2015

   Read second time. Ordered to third reading.

9. September 01, 2015

   Read third time and amended. Ordered to second reading.

10. August 31, 2015

    Read second time. Ordered to third reading.

11. August 27, 2015

    From committee: Do pass. (Ayes 7. Noes 0.) (August 27).

12. August 17, 2015

    In committee: Referred to APPR. suspense file.

13. July 08, 2015

    From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (July 8). Re-referred to Com. on APPR.

14. June 25, 2015

    Read second time and amended. Re-referred to Com. on GOV. & F.

15. June 24, 2015

    From committee: Amend, and do pass as amended and re-refer to Com. on GOV. & F. (Ayes 10. Noes 0.) (June 23).

16. June 11, 2015

    Referred to Coms. on T. & H. and GOV. & F.

17. June 01, 2015

    In Senate. Read first time. To Com. on RLS. for assignment.

18. June 01, 2015

    Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 1670.)

19. May 26, 2015

    Ordered to third reading.

20. May 26, 2015

    From Consent Calendar.

21. May 21, 2015

    Read second time. Ordered to Consent Calendar.

22. May 20, 2015

    From committee: Do pass. To Consent Calendar. (Ayes 15. Noes 0.) (May 20).

23. May 06, 2015

    Re-referred to Com. on APPR.

24. May 05, 2015

    Read second time and amended.

25. May 04, 2015

    From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 27).

26. April 27, 2015

    In committee: Set, first hearing. Referred to REV. & TAX. suspense file.

27. April 15, 2015

    From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 6. Noes 0.) (April 15). Re-referred to Com. on REV. & TAX.

28. April 06, 2015

    Re-referred to Com. on H. & C.D.

29. March 26, 2015

    From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.

30. March 26, 2015

    Referred to Coms. on H. & C.D. and REV. & TAX.

31. February 26, 2015

    From printer. May be heard in committee March 28.

32. February 25, 2015

    Read first time. To print.

Sponsors

• Gomez · Primary

Votes

Subjects