BILL NUMBER: AB 2262	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Frazier

                        FEBRUARY 21, 2014

   An act to amend Section 11293 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2262, as introduced, Frazier. Private railroad car tax.
   The California Constitution authorizes the Legislature to classify
personal property for differential taxation or for exemption by
means of a statute approved by a 2/3 vote of the membership of each
house. Under the Private Railroad Car Tax Law, the State Board of
Equalization assesses and taxes private railroad cars operated upon
railroads in this state by class based on the owner's acquisition
cost, less depreciation, as provided. In making an assessment, the
board is required to determine the average number of each class of
private railroad cars physically present in the state in the calendar
year immediately preceding the fiscal year in which the tax is
imposed upon the basis of car days.
   This bill would make a technical change to those provisions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


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

  SECTION 1.  Section 11293 of the Revenue and Taxation Code is
amended to read:
   11293.  In making an assessment, the board shall determine the
average number of each class of private railroad cars physically
present in  the   this  state in the
calendar year immediately preceding the fiscal year in which the tax
is imposed upon the basis of car days. The board shall multiply the
average number so determined by the value of a car of that class as
determined under Section 11292 and use the product for the assessment
of the cars.