CA AB2431

Authorizes cities, counties, or city and counties to impose a transactions and use tax exceeding the existing 2% combined rate limit if they have already reached that limit.

Requires voter approval of the additional tax through a general election or citizen's initiative per California Constitution requirements.

Requires a joint powers authority operating in the jurisdiction to be issuing a bond specifically for seismic retrofitting of a general acute hospital.

Any additional tax imposed under this chapter is excluded from the 2% combined rate limitation calculation established in existing law.

The new tax must otherwise comply with all requirements of the Transactions and Use Tax Law except for the rate limitation.