California AB1516 amends real property taxation laws to include public schools in tax relief for certain exemptions.

California AB1516 amends the Revenue and Taxation Code to include public schools in the list of entities eligible for the cancellation or refund of taxes, penalties, or interest on property acquired after the lien date but before the first day of the fiscal year. The bill also modifies the definition of "newly constructed" to exclude active solar energy systems. It specifies that an initial purchaser of a building with an active solar energy system can file a claim for exemption within three years of purchase.

California AB1516 amends real property taxation laws to include public schools in tax relief for certain exemptions.

California AB1516 amends the Revenue and Taxation Code to include public schools in the list of entities eligible for the cancellation or refund of taxes, penalties, or interest on property acquired after the lien date but before the first day of the fiscal year. The bill also modifies the definition of "newly constructed" to exclude active solar energy systems. It specifies that an initial purchaser of a building with an active solar energy system can file a claim for exemption within three years of purchase.