Laura Friedman
- Democratic
- Assemblymember
- District 44
Author
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, among other enumerated items, 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 deed of trust on the property in favor of the nonprofit corporation to ensure compliance with the terms of the program, as described. This bill would, for purposes of valuing property by the county assessor, establish a rebuttable presumption that, at the time of purchase, an assessor shall not include the value of the above-described deed of trust. By changing the manner in which county assessors assess property for property taxation purposes, this bill would impose a state-mandated local program. The bill would also make a technical, nonsubstantive change to those provisions. This bill would incorporate additional changes to Section 402.1 of the Revenue and Taxation Code proposed by AB 2897 to be operative only if this bill and AB 2897 are enacted and this bill is enacted 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 the statutory provisions noted above.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 553, Statutes of 2024.
Enrolled and presented to the Governor at 4 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 76. Noes 0.).
Assembly Rule 77 suspended.
Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 30 pursuant to Assembly Rule 77.
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (August 15).
Read second time and amended. Re-referred to Com. on APPR.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (June 12).
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 66. Noes 0. Page 5153.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 14. Noes 0.) (May 1).
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 8).
In committee: Set, first hearing. Hearing canceled at the request of author.
In committee: Hearing postponed by committee.
From printer. May be heard in committee February 18.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1868 | HTML |
| 01/18/24 - Introduced | |
| 04/18/24 - Amended Assembly | |
| 06/13/24 - Amended Senate | |
| 08/22/24 - Amended Senate | |
| 09/03/24 - Enrolled | |
| 09/25/24 - Chaptered |
| Document | Format |
|---|---|
| 04/05/24- Assembly Revenue and Taxation | |
| 04/30/24- Assembly Appropriations | |
| 05/03/24- ASSEMBLY FLOOR ANALYSIS | |
| 06/07/24- Senate Revenue and Taxation | |
| 06/21/24- Senate Appropriations | |
| 08/18/24- Sen. Floor Analyses | |
| 08/25/24- Sen. Floor Analyses | |
| 08/28/24- ASSEMBLY FLOOR ANALYSIS |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.