§ 24949.3. — 24949.3. (Amended by Stats. 2005, Ch. 691, Sec. 75.)

California § 24949.3.

• 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

For purposes of Sections 24943 through 24946, if, because of drought, flood, other weather-related conditions, or soil contamination or other environmental contamination, it is not feasible for the taxpayer to reinvest the proceeds from compulsorily or involuntarily converted livestock in property similar or related in use to the livestock so converted, other property (including real property in the case of soil contamination or other environmental contamination) used for farming purposes shall be treated as property similar or related in service or use to
the livestock so converted.

Legislative History

Amended by Stats. 2005, Ch. 691, Sec. 75. Effective October 7, 2005.