SB 789 (Menjivar D) Taxation: information returns: vacant commercial real property.

Current Text: Amended: 4/21/2025 
Last Amend: 4/21/2025
Status: 4/23/2025-VOTE: Do pass as amended, but first amend, and re-refer to the Committee on
[Appropriations] (PASS)
Location: 4/23/2025-S. APPR.
Summary: Except as provided, the California Constitution requires that all property be taxed in
proportion to its full value and assessed at the same percentage of fair market value. The
Documentary Transfer Tax Act authorizes the imposition of a tax by a county or city, as provided, with
respect to specified instruments that transfer specified interests in real property. Current law
establishes the California Department of Tax and Fee Administration for the purpose of administering
various taxes. This bill would require a person, as defined, that owns commercial property, as defined,
in this state to register with the department, as provided. The bill would require every person owning
commercial real property in this state to file an information return each year by a date determined by
the department, as provided. The bill would require the information return to include specified
information, including, among other requirements, whether any buildings or portions of buildings were
vacant in the previous calendar year. The bill would authorize extensions of the time for a person to file
an information return under specified circumstances, including for good cause. The bill would impose a
civil penalty in an unspecified amount on any person who fails or refuses to timely furnish a return
required by its provisions, as provided. The bill, upon appropriation, would require that a civil penalty
collected under its provisions be used to repay any amounts received as a loan from the General Fund,
as provided.