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"California A/C Tax Bill (SB 14)"

Thursday, December   9, 2004

New bill... 
SB 14
Runner, Property tax: aircraft exemption.
From text dated: 12/06/04
The California Constitution authorizes the Legislature to classify personal property for differential taxation or for exemption by means of a statute approved by a 2/3 vote of the membership of each house. Pursuant to this constitutional authorization, on aircraft that is in this state for the sole purpose of repair, overhaul, modification, or service is exempted from the taxes imposed on personal property.  
This bill would expand this exemption, subject to the 2/3 vote requirement, by providing an exemption from the personal property tax for aircraft located in this state for the sole purpose of storing that aircraft in a flyable storage condition, as defined.  
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. 
Vote: 2/3. Appropriation: no. Fiscal committee: yes. State-mandated local program: yes.
Skip Daum
Capitol Communications Group
for CABA
916- 658- 0255
FAX: 916- 658- 0252

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