Proposed Split Roll Task Force Legislation
Monday Morning Report, May 7, 2012
AB 2014 by Assemblymember Ammiano proposes to establish a split roll task force. The ultimate goal of AB 2014 is to require more frequent reassessments of commercial property, including commercial property used for residential purposes (i.e., apartments, etc.) that is owned by legal entities. A bill is not required to establish a task force, as the Legislature has this authority. But Assemblymember Ammiano is sending a clear message with his bill that he is not giving up on unraveling the protections of Proposition 13.
Opposition coalition members have pointed out that the mere threat of studying a split roll property tax system brings considerable uncertainty for investors, and the state should not waste money studying something that will lead to job loss in California.
AB 2014 was amended to require the task force to convene its first meeting on or before April 1, 2013, and to submit a report containing specified information to the Legislature within seven months of the first task force meeting. The amendments also set the task force at 15 appointed members, including two Board of Equalization members, two county assessors, six public members, both the chair (or designee) of the Senate Governance and Finance Committee and the chair (or designee) of the Assembly Revenue and Taxation Committee, one staffer each from the Department of Finance, the State Controller's, and the State Treasurer. Potentially, the committee could consist of all Democrats.
The bill is set for hearing in the Assembly Revenue and Taxation Committee at 1:30 p.m. today. Opposition to this majority-vote bill is being led by CalTax.
