Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Division 2. Other Taxes

Part 18.5. Timber Yield Tax

Chapter 10. Disposition of Proceeds

Section 38905.1

38905.1. Allocations by Controller; Timber Tax Fund. (a) Com-mencing with the 1983–84 fiscal year, the Controller shall, pursuant to subdivision (c) of Section 38904, on November 30 and May 31 of each fiscal year, transmit to county treasurers the balance that existed in the Timber Tax Fund on the preceding November 10 or May 10, respectively, in accordance with the following allocation schedule:

(1) For the 1983–84 fiscal year, 50 percent of the balance in Timber Tax Fund shall be transmitted to county treasurers based on the annual yield tax revenue guarantee certified for each county pursuant to subdivision (c) or (e) of Section 27423 of the Government Code. The remaining 50 percent of the balance in the fund shall be transmitted to county treasurers in the same proportion that the balance to be transmitted was generated from each county, as certified by the State Board of Equalization.

(2) For the 1984–85 fiscal year and each fiscal year thereafter, 100 percent of the balance in the fund shall be transmitted to county treasurers in the same proportion that the balance to be transmitted was generated from each county, as certified by the State Board of Equalization.

(b) Upon receipt of funds pursuant to subdivision (a), the county auditor shall within 10 days distribute the funds among the jurisdictions (as defined in Section 95) within the county in the same proportion that each jurisdiction's minimum revenue guarantee, determined pursuant to Section 27423 of the Government Code, bears to the total of all those amounts for all jurisdictions within the county.

(c) It is the intent of the Legislature that the provisions of subdivision (a) shall provide a final and conclusive disposition of the problem of allocating yield tax revenues among counties entitled to those revenues.

History.—Added by Stats. 1982, Ch. 1058, in effect January 1, 1983. Stats. 1984, Ch. 678, in effect January 1, 1985, substituted "as" for "or" after "county," in subsection (2) of subdivision (a). Stats. 1996, Ch. 248, in effect January 1, 1997, substituted "the balance that existed in the Timber Tax Fund on the preceding November 10 or May 10, respectively," for "the balance in the Timber Tax Fund on those dates," after "to county treasurers" in the first sentence of subdivision (a).

Note.—Section 10 of Stats. 1982, Ch. 1058, provided that with regard to community college funding from timber tax revenues, it is the intent of the Legislature that the community college funding provisions for the 1983–84 fiscal year and each fiscal year thereafter shall include the following provisions:

(a) The base fiscal year revenues for each district shall include the amount of timber yield tax minimum revenue guarantee, as certified pursuant to Section 27423 of the Government Code.

(b) For purposes of determining the amount of the state's general apportionment, the amount of timber yield tax revenue shall be considered local revenue and subtracted, along with property tax revenues and motor vehicle license fees, from the total revenues of the district.