AB 2508: Property tax bills: debt and financial data of the county.
- Session Year: 2017-2018
- House: Assembly
- Latest Version Date: 2018-04-17
Existing property tax law requires the tax collector to mail or electronically transmit a county tax bill for every property on the secured roll. Existing property tax law requires each county tax bill to contain specified information.
This bill would additionally require each county tax bill to contain specified debt and financial data of the county. The bill would make implementation of this requirement contingent upon the appropriation of funds for these purposes in the annual Budget Act or other statute.
By imposing new duties upon local government officials with respect to information contained in the county tax bill, this bill would impose a state-mandated local program.The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.Existing property tax law requires the tax collector to mail or electronically transmit a county tax bill for every property on the secured roll. Existing property tax law requires each county tax bill to contain specified information.
This bill would additionally require each county tax bill to contain specified debt and financial data of the county.
By imposing new duties upon local government officials with respect to information contained in the county tax bill, this bill would impose a state-mandated local program.
The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.
This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.
Existing law authorizes specified local government entities to issue conduit revenue bonds. Existing law requires that if an audit of a conduit financing providers accounts and records is otherwise required by law, that audit must include specified information, and requires any audit of that nature to be made publicly available. Existing law requires a conduit financing provider to annually conduct an audit of its accounts and records and report the results of that audit to the Controller, subject to certain standards.This bill would make nonsubstantive changes to the provision described above relating to audits of the accounts and records of conduit financing providers.Existing law authorizes specified local government entities to issue conduit revenue bonds. Existing law requires that if an audit of a conduit financing providers accounts and records is otherwise required by law, that audit must include specified information, and requires any audit of that nature to be made publicly available. Existing law requires a conduit financing provider to annually conduct an audit of its accounts and records and report the results of that audit to the Controller, subject to certain standards.
This bill would make nonsubstantive changes to the provision described above relating to audits of the accounts and records of conduit financing providers.
The following information shall be included in each county tax bill, whether mailed or electronically transmitted, or in a separate statement accompanying the bill:
(a)The full value of locally assessed property, including assessments made for irrigation district purposes in accordance with Section 26625.1 of the Water Code.
(b)The tax rate required by Article XIIIA of the California Constitution.
(c)The rate or dollar amount of taxes levied in excess of the 1-percent limitation to pay for voter-approved indebtedness incurred before July 1, 1978, or bonded indebtedness for the acquisition or improvement of real property approved by two-thirds of the voters on or after June 4, 1986.
(d)The amount of any special taxes and special assessments levied.
(e)The amount of any tax rate reduction pursuant to Section 96.8, with the notation: Tax reduction by (name of jurisdiction).
(f)The amount of any exemptions. Exemptions reimbursable by the state shall be shown separately.
(g)The total taxes due and payable on the property covered by the bill.
(h)Instructions on tendering payment, including the name and mailing address of the tax collector.
(i)The billing of any special purpose parcel tax as required by paragraph (2) of subdivision (b) of Section 53087.4 of the Government Code, or any successor to that paragraph.
(j)Information specifying all of the following:
(1)That if the taxpayer disagrees with the assessed value as shown on the tax bill, the taxpayer has the right to an informal assessment review by contacting the assessors office.
(2)That if the taxpayer and the assessor are unable to agree on a proper assessed value pursuant to an informal assessment review, the taxpayer has the right to file an application for reduction in assessment for the following year with the county board of equalization or the assessment appeals board, as applicable, and the time period during which the application will be accepted.
(3)The address of the clerk of the county board of equalization or the assessment appeals board, as applicable, at which forms for an application for reduction in assessment may be obtained.
(4)That if an informal or formal assessment review is requested, relief from penalties shall apply only to the difference between the county assessors final determination of value and the value on the assessment roll for the fiscal year covered.
(k)All of the following debt and financial data of the county:
(1)The total debt.
(2)The annual operating expenses.
(3)The total unfunded pension liability.
(4)Payments made for retirement pensions earned in the current fiscal year.
(5)The total unfunded liability for health care benefits for retirees.
(6)Payments made for health care benefits for retirees earned in the current fiscal year.
(7)The total debt for pension obligation.
(8)Payments made for all other debt.
SEC. 2.If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.SEC. 2.Implementation of the changes to Section 2611.6 of the Revenue and Taxation Code, contained in Section 1 of this act, shall be contingent upon the appropriation of funds for these purposes in the annual Budget Act or in another statute.
The following information shall be included in each county tax bill, whether mailed or electronically transmitted, or in a separate statement accompanying the bill:
(a)The full value of locally assessed property, including assessments made for irrigation district purposes in accordance with Section 26625.1 of the Water Code.
(b)The tax rate required by Article XIIIA of the California Constitution.
(c)The rate or dollar amount of taxes levied in excess of the 1-percent limitation to pay for voter-approved indebtedness incurred before July 1, 1978, or bonded indebtedness for the acquisition or improvement of real property approved by two-thirds of the voters on or after June 4, 1986.
(d)The amount of any special taxes and special assessments levied.
(e)The amount of any tax rate reduction pursuant to Section 96.8, with the notation: Tax reduction by (name of jurisdiction).
(f)The amount of any exemptions. Exemptions reimbursable by the state shall be shown separately.
(g)The total taxes due and payable on the property covered by the bill.
(h)Instructions on tendering payment, including the name and mailing address of the tax collector.
(i)The billing of any special purpose parcel tax as required by paragraph (2) of subdivision (b) of Section 53087.4 of the Government Code, or any successor to that paragraph.
(j)Information specifying all of the following:
(1)That if the taxpayer disagrees with the assessed value as shown on the tax bill, the taxpayer has the right to an informal assessment review by contacting the assessors office.
(2)That if the taxpayer and the assessor are unable to agree on a proper assessed value pursuant to an informal assessment review, the taxpayer has the right to file an application for reduction in assessment for the following year with the county board of equalization or the assessment appeals board, as applicable, and the time period during which the application will be accepted.
(3)The address of the clerk of the county board of equalization or the assessment appeals board, as applicable, at which forms for an application for reduction in assessment may be obtained.
(4)That if an informal or formal assessment review is requested, relief from penalties shall apply only to the difference between the county assessors final determination of value and the value on the assessment roll for the fiscal year covered.
(k)All of the following debt and financial data of the county:
(1)The total debt.
(2)The annual operating expenses.
(3)The total unfunded pension liability.
(4)Payments made for retirement pensions earned in the current fiscal year.
(5)The total unfunded liability for health care benefits for retirees.
(6)Payments made for health care benefits for retirees earned in the current fiscal year.
(7)The total debt for pension obligation.
(8)Payments made for all other debt.
SEC. 2.If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.
SECTION 1.Section 5872 of the Government Code is amended to read:5872.(a)When an audit of a conduit financing providers accounts and records is required by law, in addition to any other requirements, the audit shall include all of the following:(1)A disclosure of fees imposed on borrowers by, or on behalf of, the conduit financing provider.(2)A disclosure of expenditures related to those fees made by, or on behalf of, the conduit financing provider.(3)The dollar amount and nature of these fees and expenses.(4)A disclosure of the amount of bonds authorized but unsold at the end of the time period covered by the audit.(5)A disclosure of the amount of debt the conduit financing provider has issued during the period covered by the audit and the amount of debt still outstanding at the end of the time period covered by the audit.(b)An audit of a conduit financing providers accounts and records shall be made publicly available pursuant to the California Public Records Act (Article 1 (commencing with Section 6250) of Chapter 3.5 of Division 7).(c)Notwithstanding any other reporting periods permitted pursuant to subdivision (f) of Section 6505, Section 26909, or any other provision of law, a conduit financing provider shall annually conduct an audit of its accounts and records and report the results of that audit to the Controller. The minimum requirements of the annual audit and report shall be prescribed by the Controller and conform to generally accepted auditing standards.(a)When an audit of a conduit financing providers accounts and records is required by law, in addition to any other requirements, the audit shall include all of the following:
(1)A disclosure of fees imposed on borrowers by, or on behalf of, the conduit financing provider.
(2)A disclosure of expenditures related to those fees made by by, or on behalf of of, the conduit financing provider.
(3)The dollar amount and nature of these fees and expenses.
(4)A disclosure of the amount of bonds authorized but unsold at the end of the time period covered by the audit.
(5)A disclosure of the amount of debt the conduit financing provider has issued during the period covered by the audit and the amount of debt still outstanding at the end of the time period covered by the audit.
(b)An audit of a conduit financing providers accounts and records shall be made publicly available pursuant to the California Public Records Act (Article 1 (commencing with Section 6250) of Chapter 3.5 of Division 7).
(c)Notwithstanding any other reporting periods permitted pursuant to subdivision (f) of Section 6505, Section 26909, or any other provision of law, a conduit financing provider shall annually conduct an audit of its accounts and records and report the results of that audit to the Controller. The minimum requirements of the annual audit and report shall be prescribed by the Controller and conform to generally accepted auditing standards.
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Date
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Status
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| Apr 23, 2018 | In committee: Set, first hearing. Hearing canceled at the request of author. |
| Apr 18, 2018 | Re-referred to Com. on L. GOV. |
| Apr 17, 2018 | From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended. |
| Apr 2, 2018 | Re-referred to Com. on L. GOV. |
| Mar 22, 2018 | Referred to Com. on L. GOV. |
| Feb 15, 2018 | From printer. May be heard in committee March 17. |
| Feb 14, 2018 | Read first time. To print. |
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