Today's Law As Amended


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SB-734 Property tax: possessory interests.(2023-2024)



As Amends the Law Today


SECTION 1.

 Section 107.10 is added to the Revenue and Taxation Code, immediately following Section 107.9, to read:

107.10.
 For purposes of paragraph (1) of subdivision (a) of Section 107, there is no independent possession or use of land or improvements if that possession or use is a tenancy in a residential unit of a publicly owned housing project by a low-income household, as defined by Section 50079.5 of the Health and Safety Code, rented at affordable rents as described in Section 50053 of the Health and Safety Code.
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.
 This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.