Today's Law As Amended


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AB-5 Local government finance: property tax apportionment.(2003-2004)



As Amends the Law Today


SECTION 1.

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

96.11.
 Notwithstanding any other provision of law, except as otherwise provided in Section 96.12, the property tax apportionment factors applied to property tax revenues in the County of Tuolumne for each fiscal year to the 2000–01 fiscal year, inclusive, are deemed to be correct. However, for the 2001–02 fiscal year and each fiscal year thereafter, property tax apportionment factors applied to property tax revenues in the County of Tuolumne shall be determined on the basis of property tax apportionment factors for prior fiscal years that have been fully corrected and adjusted, pursuant to the review and recommendation of the Controller, as would be required in the absence of the preceding sentence.

SEC. 2.

 Section 96.12 is added to the Revenue and Taxation Code, to read:

96.12.
 (a) Notwithstanding any other provision of law, for the 2003–04 fiscal year and each of the next nine following fiscal years, the auditor for the County of Tuolumne shall do both of the following:
(1) Decrease the total amount of property tax revenue apportioned to each overpaid local agency by one-tenth of that local agency’s repayment amount.
(2) Increase the amount of property tax revenue apportioned to the Educational Revenue Augmentation Fund in the County of Tuolumne by the combined total of the apportionment decreases required by paragraph (1).
(b) For purposes of this subdivision:
(1) “Overpaid local agency” means a local agency in the County of Tuolumne, other than the county itself, that the Controller’s 2001 audit has determined to have been apportioned, for the 1994–95 fiscal year to the 1999–2000 fiscal year, inclusive, a total amount of property tax revenue that is more than the total amount of property tax revenue that was required by law to be apportioned to that agency for that same period.
(2) “Repayment amount” means, for any overpaid local agency, the lesser of:
(A) The amount of property tax revenue that was determined by the Controller’s 2001 audit to have been overpaid to that local agency for the 1994–95 fiscal year to the 1999–2000 fiscal year, inclusive.
(B) One percent of the total amount of property tax revenue derived from the application of a 1 percent rate to real property shown on the fiscal year 1999–2000 original secured tax roll and located within the jurisdiction of that agency.

SEC. 3.

 Section 96.13 is added to the Revenue and Taxation Code, to read:

96.13.
 (a) In the 2004–05 fiscal year and in each of the four next following fiscal years, the auditor controller of the County of Madera shall allocate an additional fifty thousand dollars ($50,000) to the county’s Educational Revenue Augmentation Fund to compensate for errors identified by the Controller’s audit of August 11, 2001, in the allocation of ad valorem property tax revenue to that fund.
(b) Notwithstanding any other provision of law, upon completion of the allocation required by subdivision (a), the property tax apportionment factors applied to property tax revenues in the County of Madera for the 1993–94 fiscal year shall be deemed to be correct.
SEC. 4.
 The Legislature finds and declares that a special law is necessary and that a general law cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the uniquely severe fiscal difficulties being suffered by certain local agencies in the County of Madera and the County of Tuolumne.
SEC. 5.
 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 make certain that essential corrections in property tax revenue apportionment factors are applied in apportioning property tax revenues in the County of Madera and the County of Tuolumne for the 2003–04 fiscal year, it is necessary that this act take effect immediately.