BILL ANALYSIS Ó
SENATE COMMITTEE ON APPROPRIATIONS
Senator Ricardo Lara, Chair
2015 - 2016 Regular Session
SB 1329 (Hertzberg) - Property taxation: certificated aircraft
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|Version: April 26, 2016 |Policy Vote: GOV. & F. 5 - 0, |
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|Urgency: No |Mandate: Yes |
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|Hearing Date: May 27, 2016 |Consultant: Robert Ingenito |
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Bill
Summary: SB 1329 would (1) extend for five years the existing
methodology for valuing certificated aircraft, excluding a 10
percent fleet reduction discount, and (2) permit trial de novo
for suits for refunds of locally-assessed property taxes on
certificated aircraft.
*********** ANALYSIS ADDENDUM - SUSPENSE FILE ***********
The following information is revised to reflect amendments
adopted by the committee on May 27, 2016
Fiscal
Impact:
The precise revenue impact of this bill relative to
current law is unknown. Property tax revenues for the
additional year utilizing the lead assessor methodology
could higher or lower than what would have occurred absent
the bill. Approximately 50 percent of property tax revenues
SB 1329 (Hertzberg) Page 1 of
?
statewide accrue to schools, which generally offsets state
General Fund obligations pursuant to Proposition 98.
Consequently, any change in the school share of property
tax revenues that is attributable to the bill's impact on
assessed values would, in turn, impact General Fund
expenditures.
Implementation costs for the Board of Equalization would
be minor and absorbable.
Committee
Amendments: Delete trial de novo, reinstate the 10 percent fleet
reduction discount, and extend the lead assessor methodology to
value certificated aircraft for one additional year, through
fiscal year 2017-18.
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