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CA AB2564
Bill
Status
Vetoed
9/14/2024
Primary Sponsor
Tasha Boerner Horvath
Click for details
AI Summary
- Establishes a mechanism to transfer funds from the General Fund to the Senior Citizens and Disabled Citizens Property Tax Postponement Fund starting June 30, 2025, and annually thereafter when the fund balance falls below $15,000,000
- Requires the Controller to transfer only the amount needed each year to restore the fund balance to exactly $15,000,000
- Maintains existing authority for the Controller to transfer excess funds (above $15,000,000) from the Property Tax Postponement Fund to the General Fund as of June 30, 2018, and annually thereafter
- Creates a continuous appropriation mechanism to ensure sufficient funds are available for administering property tax postponement programs for seniors and disabled citizens
- Applies to property tax postponement programs under Chapters 2, 3, 3.3, and 3.5 of the Revenue and Taxation Code
Legislative Description
Property tax postponement: Senior Citizens and Disabled Citizens Property Tax Postponement Fund.
Last Action
Vetoed by Governor.
9/14/2024
Committee Referrals
Appropriations6/26/2024
Revenue and Taxation6/5/2024
Rules5/23/2024
Appropriations4/23/2024
Revenue and Taxation3/4/2024
Full Bill Text
No bill text available