CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 734Introduced by Senator RubioFebruary 17, 2023 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGESTSB 734, as introduced, Rubio. Property tax: possessory interests.Existing law requires that all property subject to tax be assessed at its full value, and includes certain possessory interests among those property interests subject to tax. Existing law defines a taxable possessory interest to be a possession of, claim to, or right to the possession of land or improvements that is independent, durable, and exclusive of rights held by others in the property, except as provided. Existing law authorizes the state or any local public entity of government, when entering into a written contract with a private party whereby a possessory interest subject to property taxation may be created, to include, or cause to be included, in that contract, a statement that the property interest may be subject to property taxation if created, and that the party in whom the possessory interest is vested may be subject to the payment of property taxes levied on the interest. This bill would state the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 734Introduced by Senator RubioFebruary 17, 2023 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGESTSB 734, as introduced, Rubio. Property tax: possessory interests.Existing law requires that all property subject to tax be assessed at its full value, and includes certain possessory interests among those property interests subject to tax. Existing law defines a taxable possessory interest to be a possession of, claim to, or right to the possession of land or improvements that is independent, durable, and exclusive of rights held by others in the property, except as provided. Existing law authorizes the state or any local public entity of government, when entering into a written contract with a private party whereby a possessory interest subject to property taxation may be created, to include, or cause to be included, in that contract, a statement that the property interest may be subject to property taxation if created, and that the party in whom the possessory interest is vested may be subject to the payment of property taxes levied on the interest. This bill would state the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Senate Bill
No. 734
Introduced by Senator RubioFebruary 17, 2023
Introduced by Senator Rubio
February 17, 2023
An act relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 734, as introduced, Rubio. Property tax: possessory interests.
Existing law requires that all property subject to tax be assessed at its full value, and includes certain possessory interests among those property interests subject to tax. Existing law defines a taxable possessory interest to be a possession of, claim to, or right to the possession of land or improvements that is independent, durable, and exclusive of rights held by others in the property, except as provided. Existing law authorizes the state or any local public entity of government, when entering into a written contract with a private party whereby a possessory interest subject to property taxation may be created, to include, or cause to be included, in that contract, a statement that the property interest may be subject to property taxation if created, and that the party in whom the possessory interest is vested may be subject to the payment of property taxes levied on the interest. This bill would state the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
Existing law requires that all property subject to tax be assessed at its full value, and includes certain possessory interests among those property interests subject to tax. Existing law defines a taxable possessory interest to be a possession of, claim to, or right to the possession of land or improvements that is independent, durable, and exclusive of rights held by others in the property, except as provided. Existing law authorizes the state or any local public entity of government, when entering into a written contract with a private party whereby a possessory interest subject to property taxation may be created, to include, or cause to be included, in that contract, a statement that the property interest may be subject to property taxation if created, and that the party in whom the possessory interest is vested may be subject to the payment of property taxes levied on the interest.
This bill would state the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. It is the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
SECTION 1. It is the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
SECTION 1. It is the intent of the Legislature to enact legislation that would clarify existing law related to the taxation of possessory interests held by low-income tenants in a publicly owned housing project.
### SECTION 1.