Today's Law As Amended


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SB-558 Property taxation: new construction exclusion: rain water capture system.(2017-2018)



As Amends the Law Today
As Amends the Law on Jan 31, 2018


SECTION 1.

 Section 74.8 is added to the Revenue and Taxation Code, to read:

74.8.
 (a) “Newly constructed” and “new construction” do not include the construction or addition of a rain water capture system.
(b) For purposes of this section, “rain water capture system” means a facility designed to capture, retain, and store rain water flowing off a building rooftop or other manmade aboveground hard surface for subsequent onsite use.
(c) (1) Notwithstanding any other law, for purposes of this section, “the construction or addition of a rain water capture system” includes the construction of a rain water capture system incorporated by the owner-builder in the initial construction of a new building that the owner-builder does not intend to occupy or use.
(2) The exclusion provided by this section applies to the initial purchaser who purchased the new building from the owner-builder only if the owner-builder did not receive an exclusion pursuant to this section for the same rain water capture system and only if the initial purchaser purchased the new building prior to that building become subject to reassessment to the owner-builder, as described in subdivision (d) of Section 75.12.
(d) This section shall be administered as follows:
(1) The initial purchaser of the new building shall file a claim with the assessor and provide to the assessor any documents necessary to identify the value attributable to the rain water capture system included in the purchase price of the new building. The claim shall also identify the amount of any rebate for the rain water capture system provided to either the owner-builder or the initial purchaser.
(2) The assessor shall evaluate the claim and determine the portion of the purchase price that is attributable to the rain water capture system. The assessor shall then reduce the new base year value established as a result of the change in ownership of the new building by an amount equal to the difference between the following two amounts:
(A) That portion of the value of the new building attributable to the rain water capture system.
(B) The total amount of all rebates, if any, described in paragraph (1) that were provided to either the owner-builder or the initial purchaser.
(3) The extension of the new construction exclusion to the initial purchaser of a new constructed new building shall remain in effect only until there is a subsequent change in ownership of the new building.
(e) This section applies to new construction completed on or after January 1, 2019.
(f) This section shall remain in effect only until January 1, 2029, and as of that date is repealed.
SEC. 2.
 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. 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.
 Notwithstanding the requirements of Sections 9040, 9043, 9044, 9061, 9082, and 9094 of the Elections Code, or any other law, the Secretary of State shall submit Senate Constitutional Amendment 9 of the 2017–18 Regular Session to the voters for their approval at the June 5, 2018, statewide primary election.
SEC. 5.
 This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. However, Sections 1 to 3, inclusive, shall become operative only if Senate Constitutional Amendment 9 of the 2017–18 Regular Session is approved by the voters and, in that event, shall become operative on January 1, 2019.