BILL NUMBER: AB 2461	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Davis

                        FEBRUARY 21, 2008

   An act to add Section 15606.7 to the Government Code, relating to
the State Board of Equalization.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2461, as introduced, Davis. State Board of Equalization:
property taxation: study.
   Under existing law, county assessors and the State Board of
Equalization are responsible for collecting property taxes. Existing
law authorizes the State Board of Equalization, as part of it
administrative functions, to prescribe rules and regulations to be
followed by assessors and local boards of equalization and to prepare
and prescribe forms and instructions to be used by local assessors
for classifications and valuation of property.
   The bill would require the State Board of Equalization to conduct
a study on the amount of revenue that would have been generated if
nonresidential commercial property, as defined, had been reassessed
at its fair market value that year, and to report the results of the
study, as specified, to the Department of Finance and the
Legislature.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 15606.7 is added to the Government Code, to
read:
   15606.7.  (a) The State Board of Equalization shall conduct a
study on the amount of revenue that would have been generated during
the previous fiscal year if nonresidential commercial property had
been reassessed at its fair market value that year.
   (b) The State Board of Equalization shall report the results of
the study to the Department of Finance and the Legislature on or
before January 1, 2010.
   (c) For purposes of this section, "nonresidential commercial
property" means nonresidential commercial property as defined in
Section 3691 of the Revenue and Taxation Code.