California Revenue and Taxation Code

§ 231

RTC § 231 Effective Jan 1, 2004Div. 1 · Part 2 · Ch. 1 · Art. 1

Statute text

(a)Property that is owned by a nonprofit corporation and leased to, and used exclusively by, government for its interest and benefit shall be exempt from taxation within the meaning of “charitable purposes” in subdivision (b) of Section 4 and Section 5 of Article XIII of the California Constitution if:

(1)All of the provisions of Section 214 are complied with, except paragraph (6) of subdivision (a). For purposes of paragraph (6) of subdivision (a) of Section 214, irrevocable dedication to charitable purpose shall be deemed to exist if the lease provides that the property shall be transferred in fee to the entity of government leasing the same upon the sooner of either the liquidation, dissolution, or abandonment of the owner or at the time the last rental payment is made under the provisions of the lease.

(2)All of the provisions of Section 254.5 relating to owners are complied with, commencing during calendar year 1969.

…

Legislative history

Amended by Stats. 2003, Ch. 471, Sec. 12. Effective January 1, 2004.