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  • Archive for May 19th, 2014

    May 19

    CALIFORNIA COMMERCIAL REAL ESTATE SUMMIT – JUNE 10 & 11

    Posted by Crystal Whitfield | No Comments

    Ever want to come to Sacramento and talk to legislators about the impact that state legislation and regulations have on your business?  Now is your chance!

    The California Commercial Real Estate Summit (CCRES) will be held in Sacramento on June 10 and 11, 2014.  This event is the one time of year that industry leaders from all sectors of the commercial, industrial, and retail real estate industry converge on California’s Capitol to meet with policymakers.  The summit gives you an opportunity to meet other industry leaders from across the nation, high-level staff from Governor Brown’s Administration, and California State Legislators.

    There is still time to register!  Click here for more information.  Sponsorship opportunities are also available.  Email Melissa Stevens for more information or for help with registration.

    The goal of the California Commercial Real Estate Summit is to increase public policy and political awareness of state issues impacting commercial, industrial, and retail real estate, and to foster collaborative efforts among business leaders from all sectors of California and their representatives in the State Legislature.

    May 19

    CALIFORNIANS TO STOP HIGHER PROPERTY TAXES

    Posted by Crystal Whitfield | No Comments

    As you know, CBPA is a founding members of a coalition that has banded together to provide education and information about the problems related with eviscerating Proposition 13.  The group is named Californians to Stop Higher Property Taxes.  On your behalf, our coalition provides a website with lots of good resources for news and information related to attempts to increase your property taxes, including academic studies that show the negative impacts a split roll would have on California’s economy.  Click here to visit the CSHPT website.

     

    May 19

    DOES THIS FIX SPLIT ROLL THREAT?

    Posted by Crystal Whitfield | No Comments

    In a word, “NO!”

    This year in the Legislature we are facing unprecedented attacks on Proposition 13 coming from the parcel tax angle.  Upwards of nine Constitutional Amendments are seeking to lower voter thresholds on your properties from 2/3s to 55%.

    Additionally, one of the most serious threats to implementing a split roll tax (via non-uniform parcel taxes), SB 1021 (Wolk; D-Davis), has passed the Senate and is being considered by the Assembly.  That bill needs only a majority vote to pass and the partisan make-up of the Assembly is unfavorable in terms of elected officials potentially sympathetic to undermining these protections, unless we work hard to educate about the benefits of a uniform system.

    We must focus our efforts on these serious threats.

    May 19

    LA TIMES COVERAGE OF CHANGE OF OWNERSHIP DEAL

    Posted by Crystal Whitfield | No Comments

    Howard Jarvis group won’t oppose bill to close Prop. 13 loophole is how the L.A. Times headlined their story about the deal struck with Assemblymember Bocanegra.  Click here to read the full story.  However, here is a fun excerpt outlining some of the committee hearing:

    Lenny Goldberg, leader of the California Tax Reform Assn., praised the measure as a “step forward” and noted the irony of being on the same side as his frequent foes.

    “I get a little nervous sitting here with Rex Hime,” president of the California Business Properties Assn., Goldberg deadpanned. “He and I have been at it for many, many years.”

    Hime, in a quick rejoinder, said he gets “a little tongue-tied sitting next to Lenny.”

    Hime later said he believed that the unlikely coalition of supporters would stick together “unless one side or the other gets greedy.”

     

    May 19

    AGREEMENT REACHED ON “CHANGE OF OWNERSHIP” BILL

    Posted by Crystal Whitfield | No Comments

    This week a potentially historic agreement was reached in the Assembly Revenue and Taxation Committee between some major figures in the business community and the main group that has been seeking to re-work the “Change of Ownership,” rules under Proposition 13 was announced, during a hearing of AB 2372 (Ammiano; D-San Francisco), a bill we have been opposing.

    Over the years, some complicated property purchase deals have given the appearance of an attempt to skirt Prop. 13’s change of ownership rules, whether they were doing that or not.  These “examples” have then become cause celebre and used as the main weapon to galvanize anti-Prop. 13 groups to undermine the law as a whole.  This agreement is meant to update some of the laws implementing statutes to address that appearance of “gaming” the system.

    Currently, a property is reassessed when it is sold and/or changes ownership. However, if none of the purchasers acquires more than a 50% interest reassessment may not necessarily be triggered.   AB 2372 will be amended to clarify that as long as 90% of a property is sold, a reassessment would be triggered, regardless of whether any individual buys more than 50% of the property.  Safeguards are being negotiated now to clarify that the change of ownership clarification does not apply to normal turnover of stock for publicly traded companies.

    As an organization, we have always staunchly defended Proposition 13 and will continue to do so.  However, part of an effective defense of the law recognizes that some of the original implementation language may need to be updated to assure the goals of Prop. 13 are being met.  We believe this is one of those cases.

    Click here for a press release from the author and from the chair of Assembly Revenue and Taxation Committee.