Senate Governance and Finance Committee

The Senate Governance and Finance Committee rejected a measure May 10 that would repeal the provisions of Proposition 19 that increase property taxes after intergenerational transfers of real property. Proposition 19, approved by the voters in 2020, expanded the ability of seniors and disabled homeowners to transfer the base-year value of their homes to replacement properties. The initiative also limited the reassessment exemption for intergenerational transfers of property, resulting in many properties being reassessed at market value when inherited by…

Legislation that would reduce local tax election transparency was approved April 12 by the Senate Governance and Finance Committee and sent the CalTax-opposed bill (SB 532, Wiener) to the Senate Elections and Constitutional Amendments Committee. The bill would remove the requirement that local governments provide voters with crucial tax rate information on the ballot. Under SB 532, local governments that place tax or bond measures with more than one rate on the ballot would not have to comply with existing…

The Senate Governance and Finance Committee voted unanimously June 29 to approve AB 1951 (Grayson), a bill co-sponsored by CalTax and the California Manufacturers and Technology Association (CMTA) to provide a full sales and use tax exemption for manufacturing and research-and-development equipment purchases up to $200 million.