§ 24941.5. — 24941.5. (Repealed and added by Stats. 2019, Ch. 39, Sec. 35.)

California § 24941.5.

• Jurisdiction: California
• Code RTC: Revenue and Taxation Code - RTC
• Div. 2.: DIVISION 2. OTHER TAXES
• Part 11.: PART 11. CORPORATION TAX LAW
• Ch. 15.: CHAPTER 15. Gain or Loss on Disposition of Property
• Art. 3.: ARTICLE 3. Nontaxable Exchanges

Text

(a)
The amendments made by Section 13303(a) and (b) of the Tax Cuts and Jobs Act (Public Law 115-97) to Section 1031 of the Internal Revenue Code, relating to Exchange of real property held for productive use or investment, shall apply, subject to subdivision (b).
(b)
(1)
This section shall apply to exchanges completed after
January 10, 2019.
(2)
This section shall not apply to an exchange where the property to be disposed of by the taxpayer in the exchange is disposed of by that taxpayer on or before January 10, 2019, or where the property to be received by the taxpayer in the exchange is received by that taxpayer on or before January 10, 2019.

Legislative History

Repealed and added by Stats. 2019, Ch. 39, Sec. 35. (AB 91) Effective July 1, 2019.