Today's Law As Amended

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AB-464 Transactions and use taxes: maximum combined rate.(2015-2016)



SECTION 1.

 Section 7251.1 of the Revenue and Taxation Code is amended to read:

7251.1.
 (a)  The combined rate of all taxes imposed in accordance with this part in any county may shall  not exceed 2 percent. No A  tax shall not  be considered to be in accordance with this part if, upon its adoption, the combined rate in the county will exceed 2 percent.
(b) This section applies only to taxes and rates authorized to be imposed in accordance with this part in any county before January 1, 2016. On and after January 1, 2016, the combined rate in the county shall not exceed the combined rate established in Section 7251.5.

SEC. 2.

 Section 7251.5 is added to the Revenue and Taxation Code, to read:

7251.5.
 On and after January 1, 2016, the combined rate of all taxes imposed in accordance with this part in any county shall not exceed 3 percent. A tax shall not be considered to be in accordance with this part if, upon its adoption, the combined rate in the county will exceed 3 percent.