Real property tax: welfare exemption: community land trusts.

Plain English Breakdown

The official source material does not provide specific details on the nature of the nonsubstantive change or its potential impact.

Real Property Tax: Welfare Exemption for Community Land Trusts

This law makes a minor change to existing rules about tax breaks for property owned by community land trusts.

What This Bill Does

• Makes a nonsubstantive change to the provision providing that property is within the welfare exemption if it is owned by a community land trust.

Terms To Know

Community Land Trust

A nonprofit group that owns land to help people buy homes or build affordable housing.

Welfare Exemption

A rule that lets certain types of property pay less in taxes if it's used for things like charity, religion, or helping the community.

Limits and Unknowns

• The bill only makes a nonsubstantive change and does not affect who qualifies for tax breaks.
• It is unclear how this minor change will impact property owners or residents.

Official Summary Text

AB 2399, as introduced, Caloza.
Real property tax: welfare exemption: community land trusts.
Existing property tax law, pursuant to constitutional authorization, provides for a “welfare exemption” for property used exclusively for religious, hospital, scientific, or charitable purposes and that is owned or operated by certain types of nonprofit entities, if certain qualifying criteria are met. Existing law also provides that property is within the welfare exemption if that property is owned by a community land trust, as defined, otherwise qualifying for the welfare exemption, and specified conditions are met, including that the property is being or will be developed or rehabilitated as housing, as specified.
This bill would make a nonsubstantive change to the provision providing that property is within the welfare exemption if that property is owned by a community land trust.

Current Bill Text

Download Bill PDF