CA AB900

City of Bell must pay Los Angeles County by December 31, 2010 an amount equal to ad valorem property taxes collected in excess of the maximum authorized rate during fiscal years 2007-08, 2008-09, and 2009-10, plus interest calculated at the city's average idle fund rate.

Los Angeles County shall refund overpaid property taxes to taxpayers using its standard tax refund practices, with amounts remaining after refund attempts allocated to elementary, high school, and unified school districts.

City of Bell must reimburse the county auditor for actual and reasonable costs incurred in administering the refunds and allocations, including applicable administrative overhead costs under federal Office of Management and Budget Circular A-87 standards.

Bill takes effect immediately as an urgency statute to ensure timely reimbursement to taxpayers who overpaid property taxes in the City of Bell.