Amended IN Senate March 25, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 252Introduced by Senator LeyvaFebruary 11, 2019 An act to amend Section 17002 of add Sections 17131.8 and 24318 to, and to add and repeal Sections 18041.6 and 24955.1 of, the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTSB 252, as amended, Leyva. Personal income tax. Income taxation: exclusions: mobilehome park sales.The Personal Income Tax Law imposes a tax on the taxable income of a resident taxpayer, provides for specified treatment of the income of nonresidents, defines various terms for the purposes of that law, and specifies that those definitions govern the construction of that law. and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This bill would make a nonsubstantive change to that law. bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, would exclude from gross income under both of these laws the gain from the sale of a qualified mobilehome park held by a taxpayer for an unspecified number of years to a qualified purchaser, as those terms are defined. The bill would limit this exclusion to the sale of a qualified mobilehome park during the taxable year for which the taxpayer seeks the exclusion as certified by the Department of Housing and Community Development, as provided. The bill would require applicants for approval as a qualified purchaser to pay an application fee. The bill would require these fees to be deposited into the Mobilehome Park Fund, which would be created by this bill. The bill would prohibit the department from certifying and allocating an aggregate amount of exclusion that exceeds an unspecified amount per calendar year. The bill would require the Legislative Analyst to report to the Legislature by January 1, 2025, on the effects of the exclusion on the sales of qualified mobilehome parks in this state. The bill would repeal these provisions as of December 1, 2025.This bill would also exclude from gross income specified percentages of any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser, as those terms are defined.This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NOYES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. The Legislature finds and declares the following:(a) The State of California is experiencing a housing crisis due to the lack of affordable housing in the state.(b) Mobilehomes and manufactured homes may help alleviate the housing crisis since they can be produced quickly and are affordable for most residents.(c) Providing incentives to owners of qualified mobilehome parks to sell those parks to qualified purchasers that will continue to operate those parks at affordable levels will allow residents to secure affordable housing.SEC. 2. Section 17131.8 is added to the Revenue and Taxation Code, to read:17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.SEC. 3. Section 18041.6 is added to the Revenue and Taxation Code, to read:18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.SEC. 4. Section 24318 is added to the Revenue and Taxation Code, to read:24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.SEC. 5. Section 24955.1 is added to the Revenue and Taxation Code, to read:24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.SEC. 6. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.SECTION 1.Section 17002 of the Revenue and Taxation Code is amended to read:17002.Except where the context otherwise requires, the definitions in this chapter govern the construction of this part.
Amended IN Senate March 25, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 252Introduced by Senator LeyvaFebruary 11, 2019 An act to amend Section 17002 of add Sections 17131.8 and 24318 to, and to add and repeal Sections 18041.6 and 24955.1 of, the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTSB 252, as amended, Leyva. Personal income tax. Income taxation: exclusions: mobilehome park sales.The Personal Income Tax Law imposes a tax on the taxable income of a resident taxpayer, provides for specified treatment of the income of nonresidents, defines various terms for the purposes of that law, and specifies that those definitions govern the construction of that law. and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This bill would make a nonsubstantive change to that law. bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, would exclude from gross income under both of these laws the gain from the sale of a qualified mobilehome park held by a taxpayer for an unspecified number of years to a qualified purchaser, as those terms are defined. The bill would limit this exclusion to the sale of a qualified mobilehome park during the taxable year for which the taxpayer seeks the exclusion as certified by the Department of Housing and Community Development, as provided. The bill would require applicants for approval as a qualified purchaser to pay an application fee. The bill would require these fees to be deposited into the Mobilehome Park Fund, which would be created by this bill. The bill would prohibit the department from certifying and allocating an aggregate amount of exclusion that exceeds an unspecified amount per calendar year. The bill would require the Legislative Analyst to report to the Legislature by January 1, 2025, on the effects of the exclusion on the sales of qualified mobilehome parks in this state. The bill would repeal these provisions as of December 1, 2025.This bill would also exclude from gross income specified percentages of any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser, as those terms are defined.This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NOYES Local Program: NO
Amended IN Senate March 25, 2019
Amended IN Senate March 25, 2019
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Senate Bill No. 252
Introduced by Senator LeyvaFebruary 11, 2019
Introduced by Senator Leyva
February 11, 2019
An act to amend Section 17002 of add Sections 17131.8 and 24318 to, and to add and repeal Sections 18041.6 and 24955.1 of, the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 252, as amended, Leyva. Personal income tax. Income taxation: exclusions: mobilehome park sales.
The Personal Income Tax Law imposes a tax on the taxable income of a resident taxpayer, provides for specified treatment of the income of nonresidents, defines various terms for the purposes of that law, and specifies that those definitions govern the construction of that law. and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This bill would make a nonsubstantive change to that law. bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, would exclude from gross income under both of these laws the gain from the sale of a qualified mobilehome park held by a taxpayer for an unspecified number of years to a qualified purchaser, as those terms are defined. The bill would limit this exclusion to the sale of a qualified mobilehome park during the taxable year for which the taxpayer seeks the exclusion as certified by the Department of Housing and Community Development, as provided. The bill would require applicants for approval as a qualified purchaser to pay an application fee. The bill would require these fees to be deposited into the Mobilehome Park Fund, which would be created by this bill. The bill would prohibit the department from certifying and allocating an aggregate amount of exclusion that exceeds an unspecified amount per calendar year. The bill would require the Legislative Analyst to report to the Legislature by January 1, 2025, on the effects of the exclusion on the sales of qualified mobilehome parks in this state. The bill would repeal these provisions as of December 1, 2025.This bill would also exclude from gross income specified percentages of any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser, as those terms are defined.This bill would take effect immediately as a tax levy.
The Personal Income Tax Law imposes a tax on the taxable income of a resident taxpayer, provides for specified treatment of the income of nonresidents, defines various terms for the purposes of that law, and specifies that those definitions govern the construction of that law. and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.
This bill would make a nonsubstantive change to that law. bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, would exclude from gross income under both of these laws the gain from the sale of a qualified mobilehome park held by a taxpayer for an unspecified number of years to a qualified purchaser, as those terms are defined. The bill would limit this exclusion to the sale of a qualified mobilehome park during the taxable year for which the taxpayer seeks the exclusion as certified by the Department of Housing and Community Development, as provided. The bill would require applicants for approval as a qualified purchaser to pay an application fee. The bill would require these fees to be deposited into the Mobilehome Park Fund, which would be created by this bill. The bill would prohibit the department from certifying and allocating an aggregate amount of exclusion that exceeds an unspecified amount per calendar year. The bill would require the Legislative Analyst to report to the Legislature by January 1, 2025, on the effects of the exclusion on the sales of qualified mobilehome parks in this state. The bill would repeal these provisions as of December 1, 2025.
This bill would also exclude from gross income specified percentages of any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser, as those terms are defined.
This bill would take effect immediately as a tax levy.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. The Legislature finds and declares the following:(a) The State of California is experiencing a housing crisis due to the lack of affordable housing in the state.(b) Mobilehomes and manufactured homes may help alleviate the housing crisis since they can be produced quickly and are affordable for most residents.(c) Providing incentives to owners of qualified mobilehome parks to sell those parks to qualified purchasers that will continue to operate those parks at affordable levels will allow residents to secure affordable housing.SEC. 2. Section 17131.8 is added to the Revenue and Taxation Code, to read:17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.SEC. 3. Section 18041.6 is added to the Revenue and Taxation Code, to read:18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.SEC. 4. Section 24318 is added to the Revenue and Taxation Code, to read:24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.SEC. 5. Section 24955.1 is added to the Revenue and Taxation Code, to read:24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.SEC. 6. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.SECTION 1.Section 17002 of the Revenue and Taxation Code is amended to read:17002.Except where the context otherwise requires, the definitions in this chapter govern the construction of this part.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. The Legislature finds and declares the following:(a) The State of California is experiencing a housing crisis due to the lack of affordable housing in the state.(b) Mobilehomes and manufactured homes may help alleviate the housing crisis since they can be produced quickly and are affordable for most residents.(c) Providing incentives to owners of qualified mobilehome parks to sell those parks to qualified purchasers that will continue to operate those parks at affordable levels will allow residents to secure affordable housing.
SECTION 1. The Legislature finds and declares the following:(a) The State of California is experiencing a housing crisis due to the lack of affordable housing in the state.(b) Mobilehomes and manufactured homes may help alleviate the housing crisis since they can be produced quickly and are affordable for most residents.(c) Providing incentives to owners of qualified mobilehome parks to sell those parks to qualified purchasers that will continue to operate those parks at affordable levels will allow residents to secure affordable housing.
SECTION 1. The Legislature finds and declares the following:
### SECTION 1.
(a) The State of California is experiencing a housing crisis due to the lack of affordable housing in the state.
(b) Mobilehomes and manufactured homes may help alleviate the housing crisis since they can be produced quickly and are affordable for most residents.
(c) Providing incentives to owners of qualified mobilehome parks to sell those parks to qualified purchasers that will continue to operate those parks at affordable levels will allow residents to secure affordable housing.
SEC. 2. Section 17131.8 is added to the Revenue and Taxation Code, to read:17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
SEC. 2. Section 17131.8 is added to the Revenue and Taxation Code, to read:
### SEC. 2.
17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
17131.8. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:
(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.
(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.
(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.
(b) For purposes of this section:
(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.
(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.
(3) Qualified purchaser means any of the following:
(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.
(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.
(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.
(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.
(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
SEC. 3. Section 18041.6 is added to the Revenue and Taxation Code, to read:18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
SEC. 3. Section 18041.6 is added to the Revenue and Taxation Code, to read:
### SEC. 3.
18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
18041.6. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.
(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.
(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 24955.1 shall not exceed ____ dollars ($____) per calendar year.
(3) A qualified purchaser shall comply with both of the following requirements:
(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.
(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).
(b) For purposes of this section:
(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.
(2) Qualified purchaser means any of the following:
(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.
(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.
(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.
(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.
(c) The Department of Housing and Community Development shall do all of the following:
(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.
(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.
(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application. The application fees collected pursuant to this section and Section 24955.1 shall be deposited into the Mobilehome Park Fund, which is hereby created, and these funds shall be subject to appropriation by the Legislature.
(4) Confirm the information provided in an application for approval as a qualified purchaser.
(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.
(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.
(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.
(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.
(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 24955.1 on the sales of qualified mobilehome parks in this state.
(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.
(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
SEC. 4. Section 24318 is added to the Revenue and Taxation Code, to read:24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
SEC. 4. Section 24318 is added to the Revenue and Taxation Code, to read:
### SEC. 4.
24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.(b) For purposes of this section:(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(3) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
24318. (a) Gross income shall not include any gain recognized from the sale or exchange of a qualified mobilehome park to a qualified purchaser as follows:
(1) Fifty percent of the recognized gain for a qualified mobilehome park sold at market value.
(2) (A) A percentage, as established pursuant to subparagraph (B), between 50 and 100 percent of the recognized gain for a qualified mobilehome park sold at a transacted price below market value.
(B) The percentage of recognized gain to be excluded shall be sufficient to offset the unrealized dollar value of a below market rate sale, as determined necessary and appropriate by the Department of Housing and Community Development.
(b) For purposes of this section:
(1) Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development.
(2) Qualified mobilehome park has the same definition as in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.
(3) Qualified purchaser means any of the following:
(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.
(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.
(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.
(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.
(c) The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section.
SEC. 5. Section 24955.1 is added to the Revenue and Taxation Code, to read:24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
SEC. 5. Section 24955.1 is added to the Revenue and Taxation Code, to read:
### SEC. 5.
24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.(3) A qualified purchaser shall comply with both of the following requirements:(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).(b) For purposes of this section:(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.(2) Qualified purchaser means any of the following:(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.(c) The Department of Housing and Community Development shall do all of the following:(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.(4) Confirm the information provided in an application for approval as a qualified purchaser.(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
24955.1. (a) (1) Subject to paragraph (2), for taxable years beginning on or after January 1, 2020, and before January 1, 2025, gain from the sale of a qualified mobilehome park held by a taxpayer for a period of at least ____ years to a qualified purchaser shall not be recognized.
(2) (A) The exclusion provided by this section shall apply only to a sale of a qualified mobilehome park that occurs during the taxable year for which the taxpayer seeks the exclusion and is certified by the Department of Housing and Community Development in accordance with this section.
(B) The aggregate amount of exclusion certified and allocated by the Department of Housing and Community Development pursuant to this section and Section 18041.6 shall not exceed ____ dollars ($____) per calendar year.
(3) A qualified purchaser shall comply with both of the following requirements:
(A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ years.
(B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c).
(b) For purposes of this section:
(1) Qualified mobilehome park means a mobilehome park, as that term is defined in Section 18214 of the Health and Safety Code that is in existence as of January 1, 2020.
(2) Qualified purchaser means any of the following:
(A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity.
(B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code.
(C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code.
(D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code.
(c) The Department of Housing and Community Development shall do all of the following:
(1) Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis.
(2) Develop and administer a process pursuant to which an organization seeking to become a qualified purchaser may submit an application to the department for approval.
(3) Require applicants for approval as a qualified purchaser to provide any information that the department deems necessary to determine whether the applicant meets the criteria specified in this section and to pay an application fee that does not exceed the reasonable costs to the department for processing the application.
(4) Confirm the information provided in an application for approval as a qualified purchaser.
(5) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.
(6) Certify the amount of exclusion to a taxpayer based on the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.
(d) The Department of Housing and Community Development shall provide the Franchise Tax Board with a copy of each exclusion certification made for the calendar year by March 1 of the calendar year immediately following the year in which the department makes that certification.
(e) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated pursuant to this section shall not be subject to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.
(f) (1) No later than January 1, 2025, the Legislative Analyst shall submit a report to the Legislature on the effects of the exclusion provided by this section and Section 18041.6 on the sales of qualified mobilehome parks in this state.
(2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code.
(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.
SEC. 6. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 6. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 6. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
### SEC. 6.
Except where the context otherwise requires, the definitions in this chapter govern the construction of this part.