CA AB2046

Transfer of a floating home marina to a nonprofit corporation, stock cooperative, limited equity cooperative, or tenant-formed entity does not constitute a change in ownership if individual tenants owning at least 51 percent of berths participate by holding at least 51 percent of voting stock or ownership interests in the acquiring entity.

Any subsequent transfer of voting stock or ownership interests in the entity that acquired the floating home marina constitutes a change in ownership of a pro rata portion of the marina's real property, unless the transfer is for conversion to condominium or cooperative ownership or otherwise excluded from change in ownership.

Floating home marinas not using recorded deeds must file annual reports by February 1 with the county assessor listing owner information, unit addresses, acquisition dates, and housing decal numbers.

New owners or transferees of floating homes within marinas without recorded deeds must file a change in ownership statement within 30 days of acquisition.

State shall not reimburse local agencies for property tax revenues lost under this act, and the bill takes effect immediately as a tax levy.