California Revenue and Taxation Code

§ 230

RTC § 230 Effective Sep 24, 2000Div. 1 · Part 2 · Ch. 1 · Art. 1

Statute text

(a)With regard to taxes that attach as a lien on or after January 1, 2001, wooden vessels of historical significance, and all personal property thereon used in their operation, are exempt from taxation. This exemption applies if all of the following conditions are satisfied:

(1)The owner and operator is a nonprofit organization that has qualified for exemption under either Section 23701d of this code or under Section 501(c)(3) of the Internal Revenue Code.

(2)No part of the net earnings of the owner inures to the benefit of any private shareholder or individual.

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Legislative history

Added by Stats. 2000, Ch. 601, Sec. 2. Effective September 24, 2000.