Today's Law As Amended

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AB-191 Local government finance: property tax revenue allocations: negative sum counties.(2011-2012)



SECTION 1.

 Section 96.11 of the Revenue and Taxation Code is repealed.

96.11.
 Notwithstanding any other provision of this article, for purposes of property tax revenue allocations, the county auditor of a county for which a negative sum was calculated pursuant to subdivision (a) of former Section 97.75 as that section read on September 19, 1983, shall, in reducing the amount of property tax revenue that otherwise would be allocated to the county by an amount attributable to that negative sum, do all of the following:
(a) For the 2011–12 fiscal year, apply a reduction amount that is equal to the lesser of either of the following:
(1) The reduction amount that was determined for the 2010–11 fiscal year.
(2) The reduction amount that is determined for the 2011–12 fiscal year.
(b) For the 2012–13 fiscal year, apply a reduction amount that is equal to the lesser of either of the following:
(1) The reduction amount that was determined in subdivision (a) for the 2011–12 fiscal year.
(2) The reduction amount that is determined for the 2012–13 fiscal year.
(c) For the 2013–14 fiscal year and for the 2014–15 fiscal year, apply a reduction amount that is determined on the basis of the reduction amount applied for the immediately preceding fiscal year.
(d) For the 2015–16 fiscal year and each fiscal year thereafter, the county auditor shall not apply a reduction amount.

SEC. 2.

 Section 96.11 is added to the Revenue and Taxation Code, to read:

96.11.
 (a) Notwithstanding any other provision of this article, for the 2010–11 fiscal year the auditor of a county for which a negative sum was calculated pursuant to subdivision (a) of former Section 97.75, as that section read on September 19, 1983, shall do both of the following:
(1) Increase the total amount of ad valorem property tax revenue deemed allocated to the county in the immediately preceding fiscal year by an amount equal to the absolute value of the negative sum calculated for the county pursuant to subdivision (a) of former Section 97.75 as that section read on September 19, 1983, and the proportional share of any growth in assessed valuations of property attributable to that negative sum through the 2009–10 fiscal year. For purposes of this paragraph, “proportional share of any growth in assessed valuation of property attributable to that negative sum” means that amount that results in a fiscal year from the annual compounding of the absolute value of the previously calculated negative sum amount, from fiscal year to fiscal year, by the application of the relevant proportional share of the county’s amount of annual tax increment as determined in accordance with Section 96.5, or any predecessor to that section.
(2) Reduce the total amount of ad valorem property tax revenue deemed allocated to the county’s Educational Revenue Augmentation Fund by the amount of the increase described in paragraph (1).
(b) For the 2011–12 fiscal year and for each fiscal year thereafter, the amount of the increases and reductions required by subdivision (a) shall be fully reflected in the application of paragraph (1) of subdivision (a) of Section 96.1 and Section 96.5, or any successor to either of those provisions.
SEC. 3.
 If the Commission on State Mandates determines that this act contains 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. 4.
 This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are:
In order to timely provide vital fiscal relief to counties suffering from unusually acute fiscal difficulties, it is necessary that this act take effect immediately.