California Revenue and Taxation Code

§ 97.68

RTC § 97.68 Effective Jan 1, 2023Div. 1 · Part 0.5 · Ch. 6 · Art. 3

Statute text

Notwithstanding any other provision of law, in allocating ad valorem property tax revenue allocations for each fiscal year during the fiscal adjustment period, all of the following apply:

(a)(1) The total amount of ad valorem property tax revenue otherwise required to be allocated to a county’s Educational Revenue Augmentation Fund shall be reduced by the countywide adjustment amount.

(2)The countywide adjustment amount shall be deposited in a Sales and Use Tax Compensation Fund that shall be established in the treasury of each county.

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Legislative history

Amended by Stats. 2022, Ch. 451, Sec. 1. (SB 1494) Effective January 1, 2023.