SB336 proposes a partial tax exemption for real property used for moderate-income housing in California.

SB336 amends the Revenue and Taxation Code to provide a partial tax exemption for real property used for moderate-income housing. This exemption applies to properties owned and operated by religious, hospital, scientific, or charitable funds, foundations, limited liability companies, or corporations. The exemption is equal to the percentage of the property's value that corresponds to the percentage of units serving lower-income households.

SB336 proposes a partial tax exemption for real property used for moderate-income housing in California.

SB336 amends the Revenue and Taxation Code to provide a partial tax exemption for real property used for moderate-income housing. This exemption applies to properties owned and operated by religious, hospital, scientific, or charitable funds, foundations, limited liability companies, or corporations. The exemption is equal to the percentage of the property's value that corresponds to the percentage of units serving lower-income households.