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| 1 | + | Amended IN Senate April 22, 2019 Amended IN Senate March 25, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 252Introduced by Senator LeyvaFebruary 11, 2019 An act to add Sections 17131.8 and 24318 to, and to add and repeal Sections 18041.6 and 24955.1 of, of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTSB 252, as amended, Leyva. Income taxation: exclusions: exclusion: mobilehome park sales.The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This 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 30 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 confirmed 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. apply with the department, as provided. 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: YES 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 with the intent to maintain and preserve the property as a mobilehome park and 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.SEC. 2. 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) 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.SEC. 3. 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.SEC. 6.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. | |
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| 3 | + | Amended IN Senate April 22, 2019 Amended IN Senate March 25, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 252Introduced by Senator LeyvaFebruary 11, 2019 An act to add Sections 17131.8 and 24318 to, and to add and repeal Sections 18041.6 and 24955.1 of, of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTSB 252, as amended, Leyva. Income taxation: exclusions: exclusion: mobilehome park sales.The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This 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 30 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 confirmed 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. apply with the department, as provided. 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: YES Local Program: NO | |
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| 5 | - | ||
| 5 | + | Amended IN Senate April 22, 2019 Amended IN Senate March 25, 2019 | |
| 6 | 6 | ||
| 7 | - | Amended IN Senate May 07, 2019 | |
| 8 | 7 | Amended IN Senate April 22, 2019 | |
| 9 | 8 | Amended IN Senate March 25, 2019 | |
| 10 | 9 | ||
| 11 | 10 | CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION | |
| 12 | 11 | ||
| 13 | 12 | Senate Bill No. 252 | |
| 14 | 13 | ||
| 15 | 14 | Introduced by Senator LeyvaFebruary 11, 2019 | |
| 16 | 15 | ||
| 17 | 16 | Introduced by Senator Leyva | |
| 18 | 17 | February 11, 2019 | |
| 19 | 18 | ||
| 20 | - | An act to add and repeal Sections 18041.6 and 24955.1 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. | |
| 19 | + | An act to add Sections 17131.8 and 24318 to, and to add and repeal Sections 18041.6 and 24955.1 of, of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. | |
| 21 | 20 | ||
| 22 | 21 | LEGISLATIVE COUNSEL'S DIGEST | |
| 23 | 22 | ||
| 24 | 23 | ## LEGISLATIVE COUNSEL'S DIGEST | |
| 25 | 24 | ||
| 26 | - | SB 252, as amended, Leyva. Income taxation: exclusion: mobilehome park sales. | |
| 25 | + | SB 252, as amended, Leyva. Income taxation: exclusions: exclusion: mobilehome park sales. | |
| 27 | 26 | ||
| 28 | - | The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This 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 30 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 confirmed by the Department of Housing and Community Development, as provided | |
| 27 | + | The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability.This 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 30 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 confirmed 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. apply with the department, as provided. 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. | |
| 29 | 28 | ||
| 30 | 29 | The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal law, provide various exclusions from gross income in computing tax liability. | |
| 31 | 30 | ||
| 32 | - | This 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 30 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 confirmed by the Department of Housing and Community Development, as provided | |
| 31 | + | This 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 30 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 confirmed 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. apply with the department, as provided. 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. | |
| 33 | 32 | ||
| 34 | - | ||
| 33 | + | 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. | |
| 35 | 34 | ||
| 36 | - | ||
| 35 | + | ||
| 37 | 36 | ||
| 38 | 37 | This bill would take effect immediately as a tax levy. | |
| 39 | 38 | ||
| 40 | 39 | ## Digest Key | |
| 41 | 40 | ||
| 42 | 41 | ## Bill Text | |
| 43 | 42 | ||
| 44 | - | 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 with the intent to maintain and preserve the property as a mobilehome park and that will continue to operate those parks at affordable levels will allow residents to secure affordable housing.SEC. 2. 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 30 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 confirmed certified by the Department of Housing and Community Development | |
| 43 | + | 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 with the intent to maintain and preserve the property as a mobilehome park and 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.SEC. 2. 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) 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.SEC. 3. 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed.SEC. 6.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. | |
| 45 | 44 | ||
| 46 | 45 | The people of the State of California do enact as follows: | |
| 47 | 46 | ||
| 48 | 47 | ## The people of the State of California do enact as follows: | |
| 49 | 48 | ||
| 50 | 49 | 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 with the intent to maintain and preserve the property as a mobilehome park and that will continue to operate those parks at affordable levels will allow residents to secure affordable housing. | |
| 51 | 50 | ||
| 52 | 51 | 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 with the intent to maintain and preserve the property as a mobilehome park and that will continue to operate those parks at affordable levels will allow residents to secure affordable housing. | |
| 53 | 52 | ||
| 54 | 53 | SECTION 1. The Legislature finds and declares the following: | |
| 55 | 54 | ||
| 56 | 55 | ### SECTION 1. | |
| 57 | 56 | ||
| 58 | 57 | (a) The State of California is experiencing a housing crisis due to the lack of affordable housing in the state. | |
| 59 | 58 | ||
| 60 | 59 | (b) Mobilehomes and manufactured homes may help alleviate the housing crisis since they can be produced quickly and are affordable for most residents. | |
| 61 | 60 | ||
| 62 | 61 | (c) Providing incentives to owners of qualified mobilehome parks to sell those parks to qualified purchasers with the intent to maintain and preserve the property as a mobilehome park and that will continue to operate those parks at affordable levels will allow residents to secure affordable housing. | |
| 63 | 62 | ||
| 64 | - | SEC. 2. 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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) 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. (2)Confirm the information provided in an application for approval as a qualified purchaser.(3)Designate(2) Certify as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(4)Confirm the amount of exclusion to a taxpayer based on the independent appraisal and the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request.(e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 65 | - | ||
| 66 | - | SEC. 2. Section 18041.6 is added to the Revenue and Taxation Code, to read: | |
| 67 | - | ||
| 68 | - | ### SEC. 2. | |
| 69 | - | ||
| 70 | - | 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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) 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. (2)Confirm the information provided in an application for approval as a qualified purchaser.(3)Designate(2) Certify as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(4)Confirm the amount of exclusion to a taxpayer based on the independent appraisal and the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request.(e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 71 | - | ||
| 72 | - | 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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) 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. (2)Confirm the information provided in an application for approval as a qualified purchaser.(3)Designate(2) Certify as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(4)Confirm the amount of exclusion to a taxpayer based on the independent appraisal and the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request.(e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 73 | - | ||
| 74 | - | 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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) 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. (2)Confirm the information provided in an application for approval as a qualified purchaser.(3)Designate(2) Certify as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(4)Confirm the amount of exclusion to a taxpayer based on the independent appraisal and the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request.(e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 75 | 63 | ||
| 76 | 64 | ||
| 77 | 65 | ||
| 78 | - | 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 30 years to a qualified purchaser shall not be recognized. | |
| 79 | 66 | ||
| 80 | - | (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 confirmed certified by the Department of Housing and Community Development in accordance with this section. | |
| 67 | + | (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: | |
| 68 | + | ||
| 69 | + | ||
| 70 | + | ||
| 71 | + | (1)Fifty percent of the recognized gain for a qualified mobilehome park sold at market value. | |
| 72 | + | ||
| 73 | + | ||
| 74 | + | ||
| 75 | + | (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. | |
| 76 | + | ||
| 77 | + | ||
| 78 | + | ||
| 79 | + | (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. | |
| 80 | + | ||
| 81 | + | ||
| 82 | + | ||
| 83 | + | (b)For purposes of this section: | |
| 84 | + | ||
| 85 | + | ||
| 86 | + | ||
| 87 | + | (1)Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development. | |
| 88 | + | ||
| 89 | + | ||
| 90 | + | ||
| 91 | + | (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. | |
| 92 | + | ||
| 93 | + | ||
| 94 | + | ||
| 95 | + | (3)Qualified purchaser means any of the following: | |
| 96 | + | ||
| 97 | + | ||
| 98 | + | ||
| 99 | + | (A)A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. | |
| 100 | + | ||
| 101 | + | ||
| 102 | + | ||
| 103 | + | (B)A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code. | |
| 104 | + | ||
| 105 | + | ||
| 106 | + | ||
| 107 | + | (C)A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code. | |
| 108 | + | ||
| 109 | + | ||
| 110 | + | ||
| 111 | + | (D)A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code. | |
| 112 | + | ||
| 113 | + | ||
| 114 | + | ||
| 115 | + | (c)The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section. | |
| 116 | + | ||
| 117 | + | ||
| 118 | + | ||
| 119 | + | SEC. 3.SEC. 2. 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 120 | + | ||
| 121 | + | SEC. 3.SEC. 2. Section 18041.6 is added to the Revenue and Taxation Code, to read: | |
| 122 | + | ||
| 123 | + | ### SEC. 3.SEC. 2. | |
| 124 | + | ||
| 125 | + | 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 126 | + | ||
| 127 | + | 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 128 | + | ||
| 129 | + | 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 130 | + | ||
| 131 | + | ||
| 132 | + | ||
| 133 | + | 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 ____ 30 years to a qualified purchaser shall not be recognized. | |
| 134 | + | ||
| 135 | + | (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 confirmed by the Department of Housing and Community Development in accordance with this section. | |
| 136 | + | ||
| 137 | + | (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. | |
| 138 | + | ||
| 139 | + | ||
| 81 | 140 | ||
| 82 | 141 | (B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development. | |
| 83 | 142 | ||
| 84 | - | ||
| 85 | - | ||
| 86 | 143 | (3) A qualified purchaser shall comply with both of the following requirements: | |
| 87 | 144 | ||
| 88 | - | (A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least 30 years. | |
| 145 | + | (A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ 30 years. | |
| 89 | 146 | ||
| 90 | 147 | (B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c). | |
| 91 | 148 | ||
| 92 | 149 | (b) For purposes of this section: | |
| 93 | 150 | ||
| 94 | 151 | (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. | |
| 95 | 152 | ||
| 96 | 153 | (2) Qualified purchaser means any of the following: | |
| 97 | 154 | ||
| 98 | 155 | (A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. | |
| 99 | 156 | ||
| 100 | 157 | (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code. | |
| 101 | 158 | ||
| 102 | 159 | (C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code. | |
| 103 | 160 | ||
| 104 | 161 | (D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code. | |
| 105 | 162 | ||
| 106 | 163 | (c) The Department of Housing and Community Development shall do all of the following: | |
| 107 | 164 | ||
| 165 | + | (1)Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis. | |
| 166 | + | ||
| 167 | + | ||
| 168 | + | ||
| 169 | + | (2) | |
| 170 | + | ||
| 171 | + | ||
| 172 | + | ||
| 108 | 173 | (1) 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. | |
| 174 | + | ||
| 175 | + | (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. | |
| 176 | + | ||
| 177 | + | ||
| 178 | + | ||
| 179 | + | (4) | |
| 180 | + | ||
| 181 | + | ||
| 109 | 182 | ||
| 110 | 183 | (2) Confirm the information provided in an application for approval as a qualified purchaser. | |
| 111 | 184 | ||
| 112 | - | ||
| 113 | - | ||
| 114 | - | (3)Designate | |
| 185 | + | (5) | |
| 115 | 186 | ||
| 116 | 187 | ||
| 117 | 188 | ||
| 118 | - | (2) Certify as a qualified purchaser any applicant that the department determines meets the criteria specified in this section. | |
| 189 | + | (3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section. | |
| 190 | + | ||
| 191 | + | (6)Certify | |
| 192 | + | ||
| 193 | + | ||
| 119 | 194 | ||
| 120 | 195 | (4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park. | |
| 121 | 196 | ||
| 197 | + | (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. | |
| 122 | 198 | ||
| 123 | 199 | ||
| 124 | - | (3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser. | |
| 125 | - | ||
| 126 | - | (4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a). | |
| 127 | - | ||
| 128 | - | (5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive. | |
| 129 | - | ||
| 130 | - | (6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information: | |
| 131 | - | ||
| 132 | - | (A) The taxpayers name and social security number or taxpayer identification number. | |
| 133 | - | ||
| 134 | - | (B) The address of the qualified mobilehome park. | |
| 135 | - | ||
| 136 | - | (C) The qualified purchasers name and social security number or taxpayer identification number. | |
| 137 | - | ||
| 138 | - | (d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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. | |
| 139 | - | ||
| 140 | - | (e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request. | |
| 141 | 200 | ||
| 142 | 201 | (e) | |
| 143 | 202 | ||
| 144 | 203 | ||
| 145 | 204 | ||
| 146 | - | (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. | |
| 147 | - | ||
| 148 | - | (2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code. | |
| 205 | + | (d) 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. | |
| 149 | 206 | ||
| 150 | 207 | (f) | |
| 151 | 208 | ||
| 152 | 209 | ||
| 153 | 210 | ||
| 154 | - | ( | |
| 211 | + | (e) (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. | |
| 155 | 212 | ||
| 156 | - | ||
| 213 | + | (2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code. | |
| 157 | 214 | ||
| 158 | - | SEC. 3. Section 24955.1 is added to the Revenue and Taxation Code, to read: | |
| 159 | - | ||
| 160 | - | ### SEC. 3. | |
| 161 | - | ||
| 162 | - | 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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 organh the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request. (e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 163 | - | ||
| 164 | - | 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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 organh the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request. (e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 165 | - | ||
| 166 | - | 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 30 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 confirmed certified by the Department of Housing and Community Development in accordance with this section.(B)The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 30 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 organh the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request. (e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 215 | + | (g) | |
| 167 | 216 | ||
| 168 | 217 | ||
| 169 | 218 | ||
| 170 | - | ||
| 219 | + | (f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 171 | 220 | ||
| 172 | - | (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 confirmed certified by the Department of Housing and Community Development in accordance with this section. | |
| 221 | + | ||
| 222 | + | ||
| 223 | + | ||
| 224 | + | ||
| 225 | + | (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: | |
| 226 | + | ||
| 227 | + | ||
| 228 | + | ||
| 229 | + | (1)Fifty percent of the recognized gain for a qualified mobilehome park sold at market value. | |
| 230 | + | ||
| 231 | + | ||
| 232 | + | ||
| 233 | + | (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. | |
| 234 | + | ||
| 235 | + | ||
| 236 | + | ||
| 237 | + | (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. | |
| 238 | + | ||
| 239 | + | ||
| 240 | + | ||
| 241 | + | (b)For purposes of this section: | |
| 242 | + | ||
| 243 | + | ||
| 244 | + | ||
| 245 | + | (1)Market value shall be established by an appraisal acceptable to the Department of Housing and Community Development. | |
| 246 | + | ||
| 247 | + | ||
| 248 | + | ||
| 249 | + | (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. | |
| 250 | + | ||
| 251 | + | ||
| 252 | + | ||
| 253 | + | (3)Qualified purchaser means any of the following: | |
| 254 | + | ||
| 255 | + | ||
| 256 | + | ||
| 257 | + | (A)A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. | |
| 258 | + | ||
| 259 | + | ||
| 260 | + | ||
| 261 | + | (B)A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code. | |
| 262 | + | ||
| 263 | + | ||
| 264 | + | ||
| 265 | + | (C)A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code. | |
| 266 | + | ||
| 267 | + | ||
| 268 | + | ||
| 269 | + | (D)A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code. | |
| 270 | + | ||
| 271 | + | ||
| 272 | + | ||
| 273 | + | (c)The Department of Housing and Community Development may adopt regulations as necessary or appropriate to implement the purposes of this section. | |
| 274 | + | ||
| 275 | + | ||
| 276 | + | ||
| 277 | + | SEC. 5.SEC. 3. 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 278 | + | ||
| 279 | + | SEC. 5.SEC. 3. Section 24955.1 is added to the Revenue and Taxation Code, to read: | |
| 280 | + | ||
| 281 | + | ### SEC. 5.SEC. 3. | |
| 282 | + | ||
| 283 | + | 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 284 | + | ||
| 285 | + | 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 286 | + | ||
| 287 | + | 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 ____ 30 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 confirmed 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.(B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development.(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 ____ 30 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)(1) 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)(2) Confirm the information provided in an application for approval as a qualified purchaser.(5)(3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section.(6)Certify(4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and 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)(d) 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)(e) (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)(f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 288 | + | ||
| 289 | + | ||
| 290 | + | ||
| 291 | + | 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 ____ 30 years to a qualified purchaser shall not be recognized. | |
| 292 | + | ||
| 293 | + | (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 confirmed by the Department of Housing and Community Development in accordance with this section. | |
| 294 | + | ||
| 295 | + | (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. | |
| 296 | + | ||
| 297 | + | ||
| 173 | 298 | ||
| 174 | 299 | (B) The exclusion provided by this section shall only be allowed to a taxpayer that provides proof of an independent appraisal of the qualified mobilehome park to the Department of Housing and Community Development. | |
| 175 | 300 | ||
| 176 | - | ||
| 177 | - | ||
| 178 | 301 | (3) A qualified purchaser shall comply with both of the following requirements: | |
| 179 | 302 | ||
| 180 | - | (A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least 30 years. | |
| 303 | + | (A) The purchaser agrees to own and operate a qualified mobilehome park and records a deed restriction to maintain affordable rents for at least ____ 30 years. | |
| 181 | 304 | ||
| 182 | 305 | (B) The purchaser applies to and is approved by the Department of Housing and Community Development pursuant to subdivision (c). | |
| 183 | 306 | ||
| 184 | 307 | (b) For purposes of this section: | |
| 185 | 308 | ||
| 186 | 309 | (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. | |
| 187 | 310 | ||
| 188 | 311 | (2) Qualified purchaser means any of the following: | |
| 189 | 312 | ||
| 190 | 313 | (A) A local public entity, as defined in Section 50079 of the Health and Safety Code, including a tribally designated housing entity. | |
| 191 | 314 | ||
| 192 | 315 | (B) A qualified nonprofit housing sponsor, as defined in subdivision (k) of Section 50781 of the Health and Safety Code. | |
| 193 | 316 | ||
| 194 | - | (C) A resident organh the taxpayer sold the qualified mobilehome park.(3) Certify the sale of a qualified mobilehome park by a taxpayer to a qualified purchaser.(4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a).(5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive.(6) Provide the Franchise Tax Board, upon request of the Franchise Tax Board, with a copy of the certifications in paragraphs (2) to (4), inclusive, and all of the following information:(A) The taxpayers name and social security number or taxpayer identification number.(B) The address of the qualified mobilehome park.(C) The qualified purchasers name and social security number or taxpayer identification number.(d) The Department of Housing and Community Development may adopt any regulations necessary or appropriate to implement this section. Regulations promulgated adopted 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.(e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request. (e)(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.(f)(g) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 317 | + | (C) A resident organization, as defined in subdivision (l) of Section 50781 of the Health and Safety Code. | |
| 318 | + | ||
| 319 | + | (D) A tribally designated housing entity, as defined in Section 50104.6.5 of the Health and Safety Code. | |
| 320 | + | ||
| 321 | + | (c) The Department of Housing and Community Development shall do all of the following: | |
| 322 | + | ||
| 323 | + | (1)Certify and allocate exclusions to taxpayers pursuant to subdivision (d) on a first-come-first-served basis. | |
| 195 | 324 | ||
| 196 | 325 | ||
| 197 | 326 | ||
| 198 | - | ( | |
| 327 | + | (2) | |
| 199 | 328 | ||
| 200 | - | (4) Certify the qualified purchaser has recorded a deed restriction pursuant to subparagraph (A) of paragraph (3) of subdivision (a). | |
| 201 | 329 | ||
| 202 | - | (5) Provide the taxpayer with a copy of the certifications in paragraphs (2) to (4), inclusive. | |
| 203 | 330 | ||
| 204 | - | ( | |
| 331 | + | (1) 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. | |
| 205 | 332 | ||
| 206 | - | (A | |
| 333 | + | (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. | |
| 207 | 334 | ||
| 208 | - | (B) The address of the qualified mobilehome park. | |
| 209 | 335 | ||
| 210 | - | (C) The qualified purchasers name and social security number or taxpayer identification number. | |
| 211 | 336 | ||
| 212 | - | ( | |
| 337 | + | (4) | |
| 213 | 338 | ||
| 214 | - | (e) The taxpayer shall provide the certifications issued pursuant to paragraph (5) of subdivision (c) to the Franchise Tax Board upon request. | |
| 339 | + | ||
| 340 | + | ||
| 341 | + | (2) Confirm the information provided in an application for approval as a qualified purchaser. | |
| 342 | + | ||
| 343 | + | (5) | |
| 344 | + | ||
| 345 | + | ||
| 346 | + | ||
| 347 | + | (3) Designate as a qualified purchaser any applicant that the department determines meets the criteria specified in this section. | |
| 348 | + | ||
| 349 | + | (6)Certify | |
| 350 | + | ||
| 351 | + | ||
| 352 | + | ||
| 353 | + | (4) Confirm the amount of exclusion to a taxpayer based on the independent appraisal and the information provided in the application for the qualified purchaser to which the taxpayer sold the qualified mobilehome park. | |
| 354 | + | ||
| 355 | + | (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. | |
| 356 | + | ||
| 357 | + | ||
| 215 | 358 | ||
| 216 | 359 | (e) | |
| 217 | 360 | ||
| 218 | 361 | ||
| 219 | 362 | ||
| 220 | - | (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. | |
| 221 | - | ||
| 222 | - | (2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code. | |
| 363 | + | (d) 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. | |
| 223 | 364 | ||
| 224 | 365 | (f) | |
| 225 | 366 | ||
| 226 | 367 | ||
| 227 | 368 | ||
| 228 | - | ( | |
| 369 | + | (e) (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. | |
| 229 | 370 | ||
| 230 | - | ||
| 371 | + | (2) The report required to be submitted by this subdivision shall be submitted in compliance with Section 9795 of the Government Code. | |
| 231 | 372 | ||
| 232 | - | ||
| 373 | + | (g) | |
| 233 | 374 | ||
| 234 | - | SEC. 4. No reimbursement is required by this act pursuant to Section 6 of Article XIIIB of the California Constitution because the only costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIIIB of the California Constitution. | |
| 235 | 375 | ||
| 236 | - | ### SEC. 4. | |
| 237 | 376 | ||
| 238 | - | ||
| 377 | + | (f) This section shall remain in effect only until December 1, 2025, and as of that date is repealed. | |
| 239 | 378 | ||
| 240 | - | SEC. 4 | |
| 379 | + | SEC. 6.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. | |
| 241 | 380 | ||
| 242 | - | SEC. 4 | |
| 381 | + | SEC. 6.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. | |
| 243 | 382 | ||
| 244 | - | ### SEC. 4.SEC. 5. | |
| 383 | + | SEC. 6.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. | |
| 384 | + | ||
| 385 | + | ### SEC. 6.SEC. 4. |