California Revenue and Taxation Code

§ 23701t

RTC § 23701t Effective Jan 1, 2004Div. 2 · Part 11 · Ch. 4 · Art. 1

Statute text

(a)A homeowners’ association organized and operated to provide for the acquisition, construction, management, maintenance, and care of residential association property if all of the following apply:

(1)Sixty percent or more of the gross income of the organization for the taxable year consists solely of amounts received as membership dues, fees, and assessments from either of the following:

(A)Tenant-stockholders or owners of residential units, residences, or lots.

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Legislative history

Amended by Stats. 2003, Ch. 62, Sec. 291. Effective January 1, 2004.