Bill > SB1415

This bill expands the "welfare exemption," a property tax exemption for certain nonprofit organizations, to include residential rental properties used for moderate-income households. Currently, a partial exemption exists for properties serving lower-income households, calculated based on the proportion of units serving those households. This bill proposes to offer a similar partial exemption for properties serving both low- and moderate-income households, with the exemption amount determined by the percentage of units dedicated to these income groups. To qualify, property owners will need to provide specific certifications regarding the property's use. The bill also clarifies that the state will not reimburse local governments for any property tax revenue lost due to this expanded exemption, and it takes effect immediately as a tax levy.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1415