CA AB2268

Modifies vehicle license fee adjustment amounts for cities, counties, and city and counties for fiscal year 2018–19 by requiring calculation based on the 2017–18 adjustment amount plus growth in assessed valuation plus a one-time adjustment equal to July 2010 Controller-allocated motor vehicle license fee revenues multiplied by 1.17.

Changes the formula for fiscal year 2019–20 and thereafter to calculate vehicle license fee adjustment amounts as the prior fiscal year amount plus that amount multiplied by the percentage change in gross taxable assessed valuation.

Establishes separate calculation rules for cities incorporated after January 1, 2004 and on or before January 1, 2012, using a population-based formula for 2017–18 before transitioning to standard growth-based calculations.

Increases Orange County's vehicle license fee adjustment amount by $53,000,000 for fiscal year 2013–14, with this increase carried forward into future year calculations.

Requires county auditors to reduce educational property tax allocations by the countywide vehicle license fee adjustment amount and transfer funds to a Vehicle License Fee Property Tax Compensation Fund for distribution to local jurisdictions.