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

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Date Published:
AB464:v96#DOCUMENT

Enrolled  July 21, 2015
Passed  IN  Senate  July 13, 2015
Passed  IN  Assembly  July 16, 2015
Amended  IN  Senate  June 17, 2015
Amended  IN  Assembly  April 06, 2015

CALIFORNIA LEGISLATURE— 2015–2016 REGULAR SESSION

Assembly Bill No. 464


Introduced by Assembly Members Mullin and Gordon
(Coauthors: Assembly Members Frazier and McCarty)
(Coauthors: Senators Allen and Hill)

February 23, 2015


An act to amend Section 7251.1 of, and to add Section 7251.5 to, the Revenue and Taxation Code, relating to taxation.


LEGISLATIVE COUNSEL'S DIGEST


AB 464, Mullin. Transactions and use taxes: maximum combined rate.
Existing law authorizes cities and counties, and, if specifically authorized, other local governmental entities, subject to certain limitations and approval requirements, to levy a transactions and use tax for general purposes, in accordance with the procedures and requirements set forth in the Transactions and Use Tax Law, including a requirement that the combined rate of all taxes imposed in accordance with that law in the county not exceed 2%.
This bill would increase that maximum combined rate to 3%.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


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 shall not exceed 2 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 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.