CA AB2069

Exempts sales and use tax on tangible personal property purchased for qualifying new development projects located on California fairground land, effective January 1, 2027

Qualifying projects must be approved by a fairground's governing body under a written agreement (lease, sublease, or license) for up to 20 years, with option for a 20-year extension

Exemption applies only to state sales and use tax; local sales and use taxes, transactions taxes, and state taxes dedicated to local funding (including Local Revenue Fund 2011) remain in effect

Purchasers must provide retailers with exemption certificates and are liable for unpaid taxes if property is used in a non-qualifying manner

Legislature requires evaluation of the exemption's effectiveness by December 1, 2031, measuring metrics including number of approved projects, private capital investment generated, and geographic distribution