AB 736 (Wicks D) The Affordable Housing Bond Act of 2026.
|
(González, Mark D) Transfer taxes: limitation. |
|||
|
|
Position: Watch Introduced: 2/18/2025 |
||
|
|
Last Amend: 6/22/2026 |
||
|
|
Status: 6/22/2026-Read third time and amended. Ordered to second reading. Re-referred to Com. on RLS. pursuant to Senate Rule 29.10 (c). Re-referred to Com. on L. GOV. Joint Rule 62(a) suspended. (Ayes 26. Noes 7.) |
||
|
|
Location: 6/22/2026-S. L. GOV. |
||
|
|
Summary: The Documentary Transfer Tax Act authorizes the imposition of a tax by a county or city and county, as provided, with respect to specified instruments that transfer specified interests in real property. This bill would, beginning January 1, 2027, prohibit a local jurisdiction, defined to include a city, including a charter city, county, or city and county, from collecting a transfer tax, as defined, levied on the sale or transfer of a real property interest conveyed if the combined transfer tax rate levied by the local jurisdiction exceeds 1.5% of the consideration paid for or value of the real property interest conveyed, except as otherwise provided. The bill would also prohibit a local jurisdiction from levying a transfer tax on the first sale of single-family housing property occurring within 5 years of one or more housing units on the real property being destroyed or made uninhabitable by a natural disaster, as defined. |
||