Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2012
Revenue and Taxation Code
Part 2. Assessment
CHAPTER 1. Taxation Base
Article 1. Taxable and Exempt Property
203.1. Personalty used by student bookstores. Personal property owned or used by a nonprofit corporation operating a student bookstore affiliated with an educational institution, as defined in Section 203, is, for purposes of this section, deemed property belonging to such educational institution and shall be exempt from taxation.
History.—Added by Stats. 1979, Ch. 588, in effect January 1, 1980.
Note.—Section 2 of Stats. 1979, Ch. 588, provided that the Controller shall report to the Legislature on the amount of the claims made by county auditors under Section 16113 of the Government Code for compensation for property tax revenues lost by reason of the exemption of property by Section 1 of this act. Such report shall be made on or before the first day of October next following the operative date of this act, in order that the Legislature may appropriate funds for the subventions required by Section 2229 of the Revenue and Taxation Code.