BILL ANALYSIS Ó
SB 803
Page 1
Date of Hearing: August 26, 2015
ASSEMBLY COMMITTEE ON APPROPRIATIONS
Jimmy Gomez, Chair
SB 803
(Committee on Governance and Finance) - As Amended July 15, 2015
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|Policy |Revenue and Taxation |Vote:|8 - 0 |
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Urgency: No State Mandated Local Program: YesReimbursable:
Yes
SUMMARY:
This bill makes several minor, technical, and noncontroversial
changes to property tax law to improve property tax
administration and respond to recent litigation.
FISCAL EFFECT:
Minor and absorbable administrative costs to the Board of
Equalization (BOE); no significant impact to state or local
revenues.
SB 803
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COMMENTS:
Purpose. BOE, the sponsor of this bill, asserts this bill is
designed to:
1)Replace the possessory interest valuation methodology for
state retirement system-owned property, which a court ruled
unconstitutional, with a reference to the pre-existing
regulation;
2)Clarify that tax collectors may begin accepting property tax
payments beginning November 1 each year, even if the county
fails to post notice by that date indicating taxpayers may
begin remitting payments;
3)Clarify the intent of existing law that the exemption from new
base year valuations for transfers from parents to children
shall also apply to transfers of ownership interests in
manufactured home parks or floating home marinas when the
properties are owned in the name of a legal entity;
4)Clarify the parent-child exemption from base year
reassessments for property transfers also applies to property
the parent receives to replace property seized via eminent
domain;
5)Provide an additional year to challenge tax sales in court
when the challenge is initiated one year after rejection of a
petition to the county board of supervisors to rescind the
sale;
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6)Correct improper statutory references related to Williamson
Act assessments; and
7)Extend for five years the assessment valuation methodology for
inter-county pipeline rights-of-way, which will otherwise
sunset in 2016.
Analysis Prepared by:Joel Tashjian / APPR. / (916)
319-2081