CA AB1782

Authorizes eligible counties declared in a state of emergency by the Governor to apply for state allocations from the Special Fund for Economic Uncertainties to offset property tax revenue reductions resulting from reassessment of disaster-damaged property.

Protects homeowners' property tax exemptions ($7,000 of full dwelling value) for dwellings damaged or destroyed in Governor-declared emergencies, preventing disqualification solely due to temporary damage, reconstruction, or temporary uninhabitability from the disaster.

Extends personal income tax and corporation tax loss carryover provisions to any losses sustained from disasters subject to a Governor's proclamation of state of emergency, and allows taxpayers to elect to claim deductions for those losses on the preceding year's tax return.

Requires the Legislature to provide reimbursement in the annual Budget Act for local government revenue losses resulting from the homeowners' exemption provisions, as mandated by the California Constitution.