CA AB2938

Exempts from state sales and use taxes the gross receipts from sales and consumption of 500 bicycles purchased by the City of Santa Monica in calendar year 2015.

Exemption is effective from the bill's enactment date until January 1, 2025, when the provision is automatically repealed.

State shall not reimburse local agencies for any sales and use tax revenue losses resulting from this exemption, notwithstanding existing reimbursement requirements.

Legislature finds that a special statute is necessary due to Santa Monica's unique needs in adapting to changing bike share landscape and pursuing system expansions and improvements.