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BOE Publishes Drafts Proposed Rules for Low-Income Properties

Monday, April 4, 2005 - 7:30AM

Last year, the California State Board of Equalization (BOE) announced a project to adopt new property tax rules to implement statutory law pertaining to welfare exemption rules as they apply to low-income housing properties. Last week, the BOE published drafts of the following proposed rules: Rule 140, Requirements of Managing General Partner of Limited Partnership for Welfare Exemption for Low-Income Housing Properties; Rule 141, Requirements for Supplemental Clearance Certificate for Limited Partnership for Welfare Exemption For Low-Income Housing Properties; Rule 142, Welfare Exemption Requirements for Low-Income Housing Properties; and Rule 143, Requirements for Irrevocable Dedication Clause and Dissolution Clause for Welfare Exemption. Interested parties may submit comments, in the form of alternative language, on the drafts of the proposed rules by April 20, 2005, to Ladeena Ford at [email protected]. 

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