Bill Text: CA AB2046 | 2011-2012 | Regular Session | Chaptered
Bill Title: Property taxation: change in ownership: exclusion:
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2012-09-30 - Chaptered by Secretary of State - Chapter 817, Statutes of 2012. [AB2046 Detail]
Download: California-2011-AB2046-Chaptered.html
BILL NUMBER: AB 2046 CHAPTERED
BILL TEXT
CHAPTER 817
FILED WITH SECRETARY OF STATE SEPTEMBER 30, 2012
APPROVED BY GOVERNOR SEPTEMBER 30, 2012
PASSED THE SENATE AUGUST 27, 2012
PASSED THE ASSEMBLY MAY 31, 2012
AMENDED IN ASSEMBLY MAY 21, 2012
INTRODUCED BY Assembly Members Allen and Huffman
FEBRUARY 23, 2012
An act to add Section 62.5 to the Revenue and Taxation Code,
relating to taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
AB 2046, Allen. Property taxation: change in ownership: exclusion:
floating homes.
The California Constitution generally limits ad valorem taxes on
real property to 1% of the full cash value of that property. For
purposes of this limitation, "full cash value" is defined as the
assessor's valuation of real property as shown on the 1975-76 tax
bill under "full cash value" or, thereafter, the appraised value of
that real property when purchased, newly constructed, or a change in
ownership has occurred. Existing property tax law specifies those
circumstances in which the transfer of ownership interests results in
a change in ownership of the real property, and provides that
certain transfers do not result in a change of ownership.
This bill would provide that a transfer of a floating home marina,
as defined, to a nonprofit corporation, stock cooperative
corporation, limited equity stock cooperative, or other entity formed
by the tenants of a floating home marina for the purpose of
purchasing the floating home marina does not constitute a change in
ownership, provided that a specified condition is met. This bill
would also provide that, if the transfer of a floating home marina
has been excluded from a change in ownership and the floating home
marina has not been converted, as specified, any transfer of shares
of the voting stock of, or other ownership or membership interests
in, the entity that acquired the floating home marina shall be a
change in ownership of a pro rata portion of the real property, as
defined, of the floating home marina. This bill would require a
floating home marina that does not utilize recorded deeds to transfer
ownership interest in the berths to file a report with the county
assessor's office, as specified. This bill would require the new
resident owner or other purchaser or transferee of a floating home
within a floating home marina that does not utilize recorded deeds to
transfer ownership interest in the berths to file a specified change
in ownership statement, which is required to be filed under penalty
of perjury, within 30 days of a change in ownership.
By imposing new duties upon local officials with respect to
changes in ownership of floating home marinas, and by expanding the
crime of perjury, this bill would impose a state-mandated local
program.
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 with regard to certain mandates no
reimbursement is required by this act for a specified reason.
With regard to any other mandates, this bill would provide that,
if the Commission on State Mandates determines that the bill contains
costs so mandated by the state, reimbursement for those costs shall
be made pursuant to the statutory provisions noted above.
Section 2229 of the Revenue and Taxation Code requires the
Legislature to reimburse local agencies annually for certain property
tax revenues lost as a result of any exemption or classification of
property for purposes of ad valorem property taxation.
This bill would provide that, notwithstanding Section 2229 of the
Revenue and Taxation Code, no appropriation is made and the state
shall not reimburse local agencies for property tax revenues lost by
them pursuant to the bill.
This bill would take effect immediately as a tax levy.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 62.5 is added to the Revenue and Taxation Code,
to read:
62.5. (a) Notwithstanding any provision of this chapter, a change
in ownership shall not include a transfer of a floating home marina
to a nonprofit corporation, stock cooperative corporation, limited
equity stock cooperative, or other entity formed by the tenants of a
floating home marina for the purpose of purchasing the floating home
marina, provided that the individual tenants who were renting at
least 51 percent of the berths in the floating home marina prior to
the transfer participate in the transaction through the ownership of
an aggregate of at least 51 percent of the voting stock of, or other
ownership or membership interests in, the entity that acquires the
floating home marina.
(b) (1) If the transfer of a floating home marina has been
excluded from a change in ownership pursuant to subdivision (a) and
the floating home marina has not been converted to condominium, stock
cooperative ownership, or limited equity cooperative ownership, any
transfer of shares of the voting stock of, or other ownership or
membership interests in, the entity that acquired the floating home
marina in accordance with subdivision (a) shall be a change in
ownership of a pro rata portion of the real property of the floating
home marina, unless the transfer is for the purpose of converting the
floating home marina to condominium, stock cooperative ownership, or
limited equity cooperative ownership, or is excluded from change in
ownership by Section 62, 63, or 63.1.
(2) A floating home marina that does not utilize recorded deeds to
transfer ownership interest in the berths shall file, by February 1
of each year, a report with the county assessor's office containing
all of the following information:
(A) The full name and mailing address of each owner, stock holder,
or holder of an ownership interest in the floating home marina.
(B) The situs address, including berth number and dock, of each
unit.
(C) The date the ownership interest was acquired.
(D) The Department of Housing and Community Development decal
number or serial number, or both.
(3) Within 30 days of a change in ownership, the new resident
owner or other purchaser or transferee of a floating home within a
floating home marina that does not utilize recorded deeds to transfer
ownership interest in the berths, shall file a change in ownership
statement described in either Section 480 or 480.2.
(c) For purposes of this section, both of the following shall
apply:
(1) "Floating home marina" has the same meaning as defined in
Section 800.4 of the Civil Code.
(2) "Pro rata portion of the real property" means the total real
property of the floating home marina multiplied by a fraction
consisting of the number of shares of voting stock, or other
ownership or membership interests, transferred divided by the total
number of outstanding issued or unissued shares of voting stock of,
or other ownership or membership interests in, the entity that
acquired the floating home marina in accordance with subdivision (a).
SEC. 2. No reimbursement is required by this act pursuant to
Section 6 of Article XIII B of the California Constitution for
certain costs that may be incurred by a local agency or school
district because, in that regard, this act creates a new crime or
infraction, eliminates a crime or infraction, or changes the penalty
for a crime or infraction, within the meaning of Section 17556 of the
Government Code, or changes the definition of a crime within the
meaning of Section 6 of Article XIII B of the California
Constitution.
However, if the Commission on State Mandates determines that this
act contains other costs mandated by the state, reimbursement to
local agencies and school districts for those costs shall be made
pursuant to Part 7 (commencing with Section 17500) of Division 4 of
Title 2 of the Government Code.
SEC. 3. Notwithstanding Section 2229 of the Revenue and Taxation
Code, no appropriation is made by this act and the state shall not
reimburse any local agency for any property tax revenues lost by it
pursuant to this act.
SEC. 4. This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.
