Amended IN Senate April 25, 2024 Amended IN Senate April 16, 2024 Amended IN Senate March 05, 2024 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 964Introduced by Senator SeyartoJanuary 23, 2024An act to add Section 3777 to the Revenue and Taxation Code, relating to taxation.LEGISLATIVE COUNSEL'S DIGESTSB 964, as amended, Seyarto. Property tax: tax-defaulted property sales.Existing law generally authorizes a county tax collector to sell tax-defaulted property 5 years or more, or 3 years or more, as applicable, after that property has become tax defaulted, to any person, regardless of any prior or existing lien on, claim to, or interest in, the property, as specified. Existing law also generally authorizes the sale to certain entities of a property that has been tax defaulted for 5 years or more, or 3 years or more, as applicable, in an applicable county, including by authorizing the state, county, any revenue district the taxes of which on the property are collected by county officers, or a redevelopment agency created pursuant to the California Community Redevelopment Law, to purchase the property or any part thereof, as prescribed. Existing law also authorizes a nonprofit organization to purchase, with the approval of the board of supervisors of the county in which it is located, a residential or vacant property that has been tax-defaulted tax defaulted for 5 years or more, or 3 years or more if the property is subject to a nuisance abatement lien, as prescribed. Existing law requires the sales price of a property sold pursuant to the provisions described or referenced above to include certain amounts, including all defaulted taxes and assessments and all associated penalties and costs.This bill would prohibit authorize a property or property interest from being to be offered for sale under the provisions described above authorizing a sale to certain entities if that property or property interest that has not been offered for sale under the provisions described above authorizing a sale to any person unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt, as specified.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. Section 3777 is added to the Revenue and Taxation Code, immediately following Section 3776, to read:3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.
Amended IN Senate April 25, 2024 Amended IN Senate April 16, 2024 Amended IN Senate March 05, 2024 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 964Introduced by Senator SeyartoJanuary 23, 2024An act to add Section 3777 to the Revenue and Taxation Code, relating to taxation.LEGISLATIVE COUNSEL'S DIGESTSB 964, as amended, Seyarto. Property tax: tax-defaulted property sales.Existing law generally authorizes a county tax collector to sell tax-defaulted property 5 years or more, or 3 years or more, as applicable, after that property has become tax defaulted, to any person, regardless of any prior or existing lien on, claim to, or interest in, the property, as specified. Existing law also generally authorizes the sale to certain entities of a property that has been tax defaulted for 5 years or more, or 3 years or more, as applicable, in an applicable county, including by authorizing the state, county, any revenue district the taxes of which on the property are collected by county officers, or a redevelopment agency created pursuant to the California Community Redevelopment Law, to purchase the property or any part thereof, as prescribed. Existing law also authorizes a nonprofit organization to purchase, with the approval of the board of supervisors of the county in which it is located, a residential or vacant property that has been tax-defaulted tax defaulted for 5 years or more, or 3 years or more if the property is subject to a nuisance abatement lien, as prescribed. Existing law requires the sales price of a property sold pursuant to the provisions described or referenced above to include certain amounts, including all defaulted taxes and assessments and all associated penalties and costs.This bill would prohibit authorize a property or property interest from being to be offered for sale under the provisions described above authorizing a sale to certain entities if that property or property interest that has not been offered for sale under the provisions described above authorizing a sale to any person unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt, as specified.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
Amended IN Senate April 25, 2024 Amended IN Senate April 16, 2024 Amended IN Senate March 05, 2024
Amended IN Senate April 25, 2024
Amended IN Senate April 16, 2024
Amended IN Senate March 05, 2024
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Senate Bill
No. 964
Introduced by Senator SeyartoJanuary 23, 2024
Introduced by Senator Seyarto
January 23, 2024
An act to add Section 3777 to the Revenue and Taxation Code, relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 964, as amended, Seyarto. Property tax: tax-defaulted property sales.
Existing law generally authorizes a county tax collector to sell tax-defaulted property 5 years or more, or 3 years or more, as applicable, after that property has become tax defaulted, to any person, regardless of any prior or existing lien on, claim to, or interest in, the property, as specified. Existing law also generally authorizes the sale to certain entities of a property that has been tax defaulted for 5 years or more, or 3 years or more, as applicable, in an applicable county, including by authorizing the state, county, any revenue district the taxes of which on the property are collected by county officers, or a redevelopment agency created pursuant to the California Community Redevelopment Law, to purchase the property or any part thereof, as prescribed. Existing law also authorizes a nonprofit organization to purchase, with the approval of the board of supervisors of the county in which it is located, a residential or vacant property that has been tax-defaulted tax defaulted for 5 years or more, or 3 years or more if the property is subject to a nuisance abatement lien, as prescribed. Existing law requires the sales price of a property sold pursuant to the provisions described or referenced above to include certain amounts, including all defaulted taxes and assessments and all associated penalties and costs.This bill would prohibit authorize a property or property interest from being to be offered for sale under the provisions described above authorizing a sale to certain entities if that property or property interest that has not been offered for sale under the provisions described above authorizing a sale to any person unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt, as specified.
Existing law generally authorizes a county tax collector to sell tax-defaulted property 5 years or more, or 3 years or more, as applicable, after that property has become tax defaulted, to any person, regardless of any prior or existing lien on, claim to, or interest in, the property, as specified. Existing law also generally authorizes the sale to certain entities of a property that has been tax defaulted for 5 years or more, or 3 years or more, as applicable, in an applicable county, including by authorizing the state, county, any revenue district the taxes of which on the property are collected by county officers, or a redevelopment agency created pursuant to the California Community Redevelopment Law, to purchase the property or any part thereof, as prescribed. Existing law also authorizes a nonprofit organization to purchase, with the approval of the board of supervisors of the county in which it is located, a residential or vacant property that has been tax-defaulted tax defaulted for 5 years or more, or 3 years or more if the property is subject to a nuisance abatement lien, as prescribed. Existing law requires the sales price of a property sold pursuant to the provisions described or referenced above to include certain amounts, including all defaulted taxes and assessments and all associated penalties and costs.
This bill would prohibit authorize a property or property interest from being to be offered for sale under the provisions described above authorizing a sale to certain entities if that property or property interest that has not been offered for sale under the provisions described above authorizing a sale to any person unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt, as specified.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 3777 is added to the Revenue and Taxation Code, immediately following Section 3776, to read:3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 3777 is added to the Revenue and Taxation Code, immediately following Section 3776, to read:3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.
SECTION 1. Section 3777 is added to the Revenue and Taxation Code, immediately following Section 3776, to read:
### SECTION 1.
3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.
3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.
3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.
3777. (a) Property or a property interest shall not may be offered for sale under the provisions of this chapter if that property or property interest that has not been offered for sale under the provisions of Chapter 7 (commencing with Section 3691) unless if the State Board of Equalization conducts a property valuation that shows that the property or property interest is worth less than the amount of the defaulted debt.
(b) (1) A taxing authority intending to offer to sell property or a property interest under the provisions of this chapter in compliance with subdivision (a) shall notify the State Board of Equalization of that intent.
(2) Within 45 days of receiving a notification pursuant to paragraph (1), the State Board of Equalization shall provide the taxing authority with a valuation of the property or property interest.
(c) When considering whether to approve a sale of property or a property interest offered for sale under the provisions of this chapter without being offered for sale under the provisions of Chapter 7 (commencing with Section 3691), the Controller shall determine whether the State Board of Equalization property valuation shows that the property or property interest is worth less than the amount of the defaulted debt.