AB 672
Real property tax: welfare exemption: community land trusts.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill extends a property tax exemption currently available to community land trusts for properties used for affordable housing. It provides that community land trusts will remain eligible for this exemption until January 1, 2032, with specific deadlines for development or rehabilitation to avoid property tax liability. The bill also includes provisions requiring notification to public employee relations boards regarding labor disputes and mandates that the state will not reimburse local agencies for property tax revenue lost due to this exemption.
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