Property tax: documentary transfer tax: exemptions: nonprofit corporations chartered under tribal or federal law.
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Majority
Fiscal committee
No
Appropriation
No
Current location
In Floor Process
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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 expands property tax exemptions for documentary transfer taxes to include nonprofit corporations chartered under tribal or federal law. Specifically, it broadens the existing exemption for property used for natural resource preservation to also cover land owned and operated by these tribal and federal nonprofits. The bill also clarifies the definition of ‘tribal land return transaction’ to encompass transfers to these expanded types of nonprofits. Additionally, the bill includes requirements for data collection and reporting to assess the effectiveness of these exemptions in supporting tribal land reclamation and preservation efforts.
Key provisions
- Expands property tax exemptions to include nonprofit corporations chartered under tribal or federal law.
- Broadens the definition of ‘tribal land return transaction’ to include transfers to these nonprofits.
- Requires the Board of Equalization to publish an annual report on land exempted under tribal law.
- Establishes performance indicators for evaluating the effectiveness of the exemptions.
- Includes requirements for data collection from counties regarding land transfers and tax exemptions.
- Provides for state reimbursement to local agencies if the bill contains state-mandated costs.
- Allows for an immediate tax levy.
Who is affected
- Federally Recognized Indian Tribes
- Nonprofit Corporations Chartered Under Tribal or Federal Law
- County Tax Collectors
Bill text
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Sponsors
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1 on record
Primary sponsor
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