AB 464, as amended, Mullin. Transactions and use taxes: maximum combined rate.
Existing law authorizes cities and counties, subject to certain limitations and approval requirements, to levy a transactions and use tax for general purposes, in accordance with the procedures and requirements set forth in the Transactions and Use Tax Law, including a requirement that the combined rate of all taxes imposed in accordance with that law in the county not exceed 2%.
This bill would increase that maximum combined rate to 3%.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 7251.1 of the Revenue and Taxation
2Code is amended to read:
The combined rate of all taxes imposed in accordance
2with this part in any county shall not exceed
begin delete 2end delete percent. A tax
3shall not be considered to be in accordance with this part if, upon
4its adoption, the combined rate in the county will exceed 3 percent.