Property tax: welfare exemption.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Enrolled
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill extends the welfare exemption for property used to preserve natural resources and open space, currently set to expire in 2028, to 2033. It modifies Section 214.02 of the Revenue and Taxation Code to broaden the types of organizations eligible for the exemption and clarifies rules regarding revenue generated from the property. The bill also mandates that the state not reimburse local agencies for property tax revenues lost due to this expanded exemption and requires the State Board of Equalization to publish annual reports on the acreage and assessed value of properties benefiting from the exemption.
Key provisions
- Extends the welfare exemption’s operative date from 2027 to 2032 and repeal date from 2028 to 2033.
- Expands the types of organizations eligible for the welfare exemption to include more types of nonprofits.
- Clarifies rules regarding revenue generated from properties subject to the welfare exemption, prohibiting revenue from certain activities.
- Requires a ‘qualified conservation management plan’ to be in place for properties to qualify for the exemption.
- States the legislature’s intent to apply performance indicators and data collection requirements to the exemption.
- Specifies that the state will not reimburse local agencies for property tax revenues lost due to the expanded exemption.
- Requires the State Board of Equalization to publish annual reports on the acreage and assessed value of properties benefiting from the exemption.
- Includes provisions to ensure the exemption doesn’t apply to large landholdings or properties reserved for future development.
Bill text
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Sponsors
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1 on record
Primary sponsor
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