This week, after a long run-up to an anticipated battle on Split Roll Property Tax, the bill dealing with the “Change of Ownership” issue, introduced by the author that proclaimed he was seeking to “nuke Prop 13,” AB 2014 (Ammiano; D-San Francisco), was suddenly “pulled” from the committee hearing docket and not presented.
The bill sought to set up a “Task Force” to purportedly review change of ownership issue. This task force however, neglected to name anyone from the commercial real estate industry to participate and did not provide any funding to complete the task.
The Assembly Revenue and Taxation Committee reports that the bill has missed an important deadline and will not move forward this year. However, as in the past, we are expecting advocates to try to move the issue forward in budget negotiations and a much bigger effort is looming as part of a statewide ballot measure.
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