Bill > AB2399

This bill makes a nonsubstantive change to existing property tax law that provides a "welfare exemption" for property owned by a community land trust, which is an organization that owns land and leases it long-term to individuals or organizations for housing development. The welfare exemption allows certain nonprofit organizations to be exempt from property taxes if their property is used for religious, hospital, scientific, or charitable purposes and meets specific criteria. For community land trusts, this exemption applies if the property is being developed or rehabilitated as housing for owner-occupiers or as rental housing, and if certain restrictions are in place to ensure affordability. The bill's amendment clarifies the definition of terms used within this exemption, ensuring consistent application of the law.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2399