California Revenue and Taxation Code

§ 97.3

RTC § 97.3 Effective Jun 29, 2020Div. 1 · Part 0.5 · Ch. 6 · Art. 3

Statute text

Notwithstanding any other provision of this chapter, the computations and allocations made by each county pursuant to Section 96.1 or its predecessor section, as modified by Section 97.2 or its predecessor section for the 1992–93 fiscal year, shall be modified for the 1993–94 fiscal year pursuant to subdivisions (a) to (c), inclusive, as follows:

(a)The amount of property tax revenue deemed allocated in the prior fiscal year to each county and city and county shall be reduced by an amount to be determined by the Director of Finance in accordance with the following:

(1)The total amount of the property tax reductions for counties and cities and counties determined pursuant to this section shall be one billion nine hundred ninety-eight million dollars ($1,998,000,000) in the 1993–94 fiscal year.

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Legislative history

Amended by Stats. 2020, Ch. 24, Sec. 85. (SB 98) Effective June 29, 2020.