CA AB2014

Requires the Legislature to establish a task force to update 1979 recommendations on defining "change in ownership" for complex legal entities in property tax law.

Task force shall examine information availability, sufficiency of reporting requirements, and whether current definitions adequately capture change of ownership concepts for real property owned by legal entities.

Task force composed of 15 members including 2 county assessors, 2 State Board of Equalization members, 6 public members, committee chairs, and representatives from Department of Finance, Controller's Office, and Treasurer's Office.

Task force must hold its first meeting on or before June 1, 2013, and submit a report to the Legislature within seven months of that meeting.

Establishes that if the Commission on State Mandates determines the bill creates state-mandated costs, reimbursement to local agencies shall be made pursuant to Government Code Part 7.