Today's Law As Amended


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AB-366 Transactions and use taxes: City of Alameda.(2015-2016)



As Amends the Law Today
As Amends the Law on Nov 22, 2016


SECTION 1.

 Chapter 3.75 (commencing with Section 7292.5) is added to Part 1.7 of Division 2 of the Revenue and Taxation Code, to read:

CHAPTER  3.75. Local Government Finance in the City of Alameda
7292.5.
 (a) Notwithstanding any other law, the City of Alameda may impose a transactions and use tax for general purposes that, in combination with all taxes imposed pursuant to the Transactions and Use Tax Law (Part 1.6 (commencing with Section 7251)), would not exceed the limit established in Section 7251.1 by more than 0.5 percent, if all of the following requirements are met:
(1) The city adopts an ordinance proposing the transactions and use tax subject to any applicable voter approval requirement.
(2) The ordinance proposing the transactions and use tax is submitted to the electorate and is approved by the voters voting on the ordinance pursuant to Article XIII C of the California Constitution. The election on the ordinance proposing the transactions and use tax may occur after January 1, 2017.
(3) The transactions and use tax conforms to the Transactions and Use Tax Law (Part 1.6 (commencing with Section 7251)) other than Section 7251.1.
(b) Notwithstanding Section 7251.1, the tax rate authorized in subdivision (a) shall not be considered for purposes of the combined rate limit established by that section.
7292.6.
 If, as of January 1, 2025, an ordinance proposing a transactions and use tax pursuant to this chapter has not been approved as required by paragraph (2) of subdivision (a) of Section 7292.5, this chapter shall be repealed as of that same date.
SEC. 2.
 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 unique fiscal pressures in the City of Alameda.