§ 20544. — 20544. (Amended (as amended by Stats. 2001, Ch. 156) by Stats. 2001, Ch. 266, Sec. 3.)

California § 20544.

• Jurisdiction: California
• Code RTC: Revenue and Taxation Code - RTC
• Div. 2.: DIVISION 2. OTHER TAXES
• Part 10.5.: PART 10.5. SENIOR CITIZENS PROPERTY TAX ASSISTANCE AND POSTPONEMENT LAW
• Ch. 1.: CHAPTER 1. Senior Citizens Homeowners and Renters Property Tax Assistance Law
• Art. 2.: ARTICLE 2. Computations

Text

(a)
(1)
The amount of assistance for a claimant renting his or her residence shall be based on the claimant’s household income for the time period set forth in Section 20503.
(2)
For claims filed with respect to the 2001 calendar year, and each calendar year thereafter, the percentage of assistance for which each claimant renting his or her residence shall be eligible shall be based on the following scale:
The percentage of the
If the total household
The statutory
statutory property
tax
income (as defined in this
property tax
equivalent used to
part) is not more than:
equivalent is:
provide assistance is:
$8,812
$250
139%
9,400
250
136
9,987
250
133
10,575
250
131
11,163
250
128
11,750
250
125
12,337
250
122
12,925
250
119
13,513
250
116
14,101
250
113
14,688
250
110
15,275
250
106
15,863
250
100
16,451
250
94
17,038
250
88
17,626
250
83
18,213
250
77
18,800
250
71
19,389
250
65
19,976
250
59
20,564
250
54
21,151
250
49
21,738
250
45
22,327
250
41
22,914
250
36
23,500
250
32
24,088
250
29
24,675
250
26
25,263
250
23
25,851
250
20
26,438
250
17
27,908
250
15
29,376
250
12
30,846
250
10
32,314
250
9
33,783
250
7
35,251
250
6
(b)
With respect to assistance that is provided by the Franchise Tax Board pursuant to this chapter for the 2002 calendar year and each year thereafter, the household income figures that apply to assistance provided
by the Franchise Tax Board during that period shall be the household income figures that applied to assistance provided by the Franchise Tax Board in the same period in the immediately preceding year, multiplied by an inflation factor calculated as follows:
(1)
On or before February 1 of each year, the Department of Industrial Relations shall transmit to the Franchise Tax Board the percentage change in the California Consumer Price Index for all items from June of the second preceding calendar year to June of the immediately preceding calendar year.
(2)
The Franchise Tax Board shall add 100 percent to the percentage change figure that is furnished pursuant to paragraph (1) and divide the result by 100.
(3)
The Franchise Tax Board shall multiply the immediately preceding household income figure by the inflation
adjustment factor determined in paragraph (2), and round off the resulting product to the nearest one dollar ($1).

Legislative History

Amended (as amended by Stats. 2001, Ch. 156) by Stats. 2001, Ch. 266, Sec. 3. Effective September 10, 2001.