CA AB1528

Extends property tax exemption to nonprofit public benefit corporations controlled by housing authorities, provided the corporation is solely directed by housing authority officials and assets revert to the authority upon dissolution.

Cancels any outstanding ad valorem taxes, interest, or penalties levied on housing authority property and requires refunds of such amounts paid prior to January 1, 2024.

States that the changes clarify existing constitutional law regarding property tax exemptions rather than creating new exemptions.

Specifies that the state shall not reimburse local agencies for property tax revenues lost due to this exemption, notwithstanding standard tax loss reimbursement statutes.

Declares that the tax refunds serve the public purpose of providing safe and sanitary housing and do not constitute an unconstitutional gift of public funds.