CA SB862

Authorizes the Santa Cruz Metropolitan Transit District board to impose a retail transactions and use tax after January 1, 2024, if the ordinance is adopted before January 1, 2035.

Limits the new tax rate to a maximum of 0.5 percent.

Exempts any tax rate imposed under this new authority from the statewide 2 percent combined rate limit on transactions and use taxes.

Maintains existing exemption from the 2 percent combined rate limit for transactions and use taxes imposed by the district on or before January 1, 2020.

Requires approval by two-thirds of electors voting on the measure at a special election called by the board.