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SPONSOR: |
Thompson |
DATE TYPED: |
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HJR |
26 |
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SHORT TITLE: |
Nonprofit Organization Property Taxes, CA |
SB |
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ANALYST: |
Neel |
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REVENUE
Estimated Revenue |
Subsequent Years Impact |
Recurring or
Non-Rec |
Fund Affected |
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FY03 |
FY04 |
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See
Narrative |
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(Parenthesis ( ) Indicate Revenue Decreases)
LFC files
No
Responses Received From:
Taxation
and Revenue Department (TRD)
SUMMARY
Synopsis
of Bill
House
Joint Resolution 26 proposes to amend the state to exempt, from property
taxation, property of:
“…fraternal
societies, orders or associations granted an exemption from federal income
taxation pursuant to Section 501(c)(8) or (10) of the Internal Revenue Code of
1986, as amended, and the property of veterans’ posts, organizations, auxiliary
units or societies of such posts or organizations or other associations of past
or present members of the armed forces of the United states that have been
granted an exemption from the federal income taxation pursuant to Section
501(c)(19) i or (23) of the Internal Revenue Code of 1986, as amended.”.
FISCAL IMPLICATIONS
TRD notes the
following fiscal impact:
The vote would impose no fiscal impacts. However, primary impact of
enacting legislation, if approved by voters, would shift a portion of the property tax burden from entities
benefiting from the exemption to entities that do not via property tax rate
increases. Detailed statistics
are not available to the Department regarding effects of the proposed measure
on taxable value by county. However,
representatives of
SN/njw