Today's Law As Amended


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AB-2938 Sales and use taxes: exemption: bicycles: City of Santa Monica.(2017-2018)



As Amends the Law Today


SECTION 1.

 Section 6368.8 is added to the Revenue and Taxation Code, to read:

6368.8.
 (a) On or after the effective date of the act adding this section, there are exempted from the taxes imposed by this part the gross receipts from the sale in this state of, and the storage, use, or other consumption in this state of, qualified tangible personal property purchased by the City of Santa Monica.
(b) For purposes of this section, “qualified tangible personal property” means the 500 bicycles purchased by the City of Santa Monica in calendar year 2015.
(c) This section shall remain in effect only until January 1, 2025, and as of that date is repealed.
SEC. 2.
 The Legislature finds and declares that a special statute is necessary and that a general statute cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the unique needs of the City of Santa Monica in order to adapt to the rapidly changing bike share landscape and to pursue system expansions, improvements, and integrations.
SEC. 3.
 Notwithstanding Section 2230 of the Revenue and Taxation Code, no appropriation is made by this act and the state shall not reimburse any local agency for any sales and use tax revenues lost by it under this act.
SEC. 4.
 This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.