CA SB1304

Expands property tax reassessment eligibility to include damage from events proclaimed by the Governor as a state of emergency (in addition to existing state of disaster declarations), and defines "damage" to include diminution in property value from environmental contamination or restricted access.

Applies retroactively to Porter Ranch neighborhood properties in Los Angeles affected by the 2015-2016 methane gas leak, allowing reassessment applications to be filed within 12 months of the bill's enactment or per ordinance, whichever is later.

Requires the assessed value of damaged property to be re-determined on the third lien date following a calamity if reconstruction is not progressing timely, applicable only to properties in state of emergency-proclaimed areas.

Specifies that the bill's enactment does not create legal presumptions about property value declines or contamination status for civil litigation purposes related to the Porter Ranch methane leak.

Declares the bill an urgency statute effective immediately to provide relief to affected Porter Ranch residents.