Taxation: information returns: vacant commercial real property.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Appropriations
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill requires commercial property owners in California to register with and file annual information returns detailing whether any buildings on their properties were vacant during the previous year. The Department of Tax and Fee Administration will collect this data and post it by ZIP code, including vacancy rates and reasons. Failure to comply will result in a civil penalty, with funds collected used to repay loans from the General Fund. The law will expire on January 1, 2031.
Key provisions
- Commercial property owners must register with the Department of Tax and Fee Administration.
- Annual information returns must be filed, including details on vacant buildings and the number of days they were vacant.
- The information return must include reasons for vacancy and whether specific conditions (disaster, regulatory barriers, etc.) apply.
- Extensions to filing deadlines may be granted for good cause or during declared disasters.
- A civil penalty of $100 per vacant commercial property will be imposed for non-compliance.
- Penalties collected will be used to repay loans from the General Fund.
- The Department will post aggregated vacancy data by ZIP code.
- The law will expire on January 1, 2031.
Who is affected
- Commercial property owners
- The California Department of Tax and Fee Administration
- Local governments (through potential revenue generation)
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours