CA AB2622

Extends the formula for determining fair market value of certificated aircraft (mainline jets, regional aircraft, production freighters, and converted freighters) from fiscal year 2016-17 through fiscal year 2019-20, inclusive.

Extends the lead county assessor system for designating a single assessor's office per commercial air carrier until December 31, 2019, requiring lead assessors to calculate aircraft values and transmit them to other counties where the aircraft have situs.

Requires the Aircraft Advisory Subcommittee of the California Assessors' Association to designate two contacts in each lead county assessor's office by March 1, 2017, to address reporting issues and establish best practices for administering the lead county system and audit process.

Requires lead county assessor offices to transmit property statements to assessors in all counties where the air carrier's personal property is located, with county assessors directing questions first to the lead assessor and then to the air carrier if needed.

Imposes state-mandated local program costs on county assessor offices, with reimbursement to be made by the Commission on State Mandates pursuant to Government Code Part 7.