California Revenue and Taxation Code

§ 6366.3

RTC § 6366.3 Effective Sep 28, 1987Div. 2 · Part 1 · Ch. 4 · Art. 1

Statute text

(a)There are exempted from the taxes imposed by this part the gross receipts from the sale of and the storage, use or other consumption in this state of tangible personal property purchased by the state or any local government entity as part of a public art collection which shall be considered a museum pursuant to paragraph (4) of subdivision (d) or a nonprofit museum regularly open to the public which is operated by or for a local or state government entity, or operated by a nonprofit organization which has qualified for exemption pursuant to Section 23701d, provided:

(1)The property is purchased to replace property which has been physically destroyed by fire, flood, earthquake, or other calamity;

(2)The property is purchased and used exclusively for display purposes within such museum; and

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Legislative history

Amended by Stats. 1987, Ch. 1266, Sec. 2. Effective September 28, 1987. Operative January 1, 1988, by Sec. 4 of Ch. 1266.