California SB1415 amends real property tax laws to provide a welfare exemption for moderate-income housing.

California SB1415 amends the Revenue and Taxation Code to modify the welfare exemption for real property tax, specifically targeting moderate-income housing. The bill introduces a partial exemption for properties housing low- and moderate-income elderly and handicapped families, with the exemption amount based on the proportion of such households on the property. It also details conditions for continued eligibility, including income thresholds and occupancy requirements.

California SB1415 amends real property tax laws to provide a welfare exemption for moderate-income housing.

California SB1415 amends the Revenue and Taxation Code to modify the welfare exemption for real property tax, specifically targeting moderate-income housing. The bill introduces a partial exemption for properties housing low- and moderate-income elderly and handicapped families, with the exemption amount based on the proportion of such households on the property. It also details conditions for continued eligibility, including income thresholds and occupancy requirements.