California Assembly Bill AB1487 Introduced / Bill

 BILL NUMBER: AB 1487INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Obernolte FEBRUARY 27, 2015 An act to amend Section 401 of the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGEST AB 1487, as introduced, Obernolte. Property taxation: assessment: full value. Existing property tax law requires every assessor to assess all property subject to general property taxation at its full value. This bill would make a technical, nonsubstantive change to that provision. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 401 of the Revenue and Taxation Code is amended to read: 401.  Every   The  assessor shall assess all property subject to general property taxation at its full value.