Cal. Government Code - GOV § 62540. Section 62540.
(a)
An authority may raise and allocate new revenue through both of the following funding mechanisms:
(1)
Special taxes, subject to voter approval, as provided in Article 1 (commencing with Section 62550) of Chapter 2, as follows:
(A)
A parcel tax, as provided in Section 62550.
(B)
A gross receipts business license tax, as provided in Section 62551.
(C)
A special business tax, as provided in Section 62551.1.
(D)
A special parcel tax, as provided in Section 62551.2.
(2)
A commercial linkage fee, as provided in Article 2 (commencing with Section 62570) of Chapter 2.
(b)
Any funding mechanism or combination of funding mechanisms authorized pursuant to subdivision (a) that requires voter approval pursuant to the California Constitution or this part may be placed on the ballot in all or a subset of the counties within the jurisdiction of the authority. A measure placed on the ballot in a subset of the authority counties shall apply only in those counties in which the measure was submitted to the voters.
(c)
Any funding mechanism or combination of funding mechanisms imposed pursuant to subdivision (a) shall include an expiration date.
(d)
A parcel of real
property shall not be subject to more than one parcel tax or special parcel tax imposed by an authority pursuant to subdivision (a) in a taxable year.
(e)
It is the intent of the Legislature that the funding measures authorized by this section distribute the responsibility for addressing the affordable housing needs of the region across commercial developers, businesses above a certain size, taxpayers, and across all property owners within the region.
(f)
Notwithstanding any other law, both of the following shall apply:
(1)
A homebuilder shall not be subject to a funding mechanism described in paragraph (1) of subdivision (a) at a tax rate that is greater than the lowest effective tax rate imposed by the funding mechanism on any other type of
business.
(2)
A homebuilder shall be entitled to an exemption from a funding mechanism described in paragraph (1) of subdivision (a) if it meets the criteria for the exemption applicable to members of another type of business such as business size or number of employees.
(g)
(1)
(A)
Except as provided in subparagraph (B), a homebuilder shall be exempt from a funding mechanism described in paragraph (1) of subdivision (a) with respect to any business activity, revenue, or property that is related to, used in, or derived from a residential or mixed-use project that was subject to an inclusionary housing policy.
(B)
If a homebuilder maintains ownership of rental property that qualifies for the exemption pursuant to subparagraph (A), then five years after the date of the final
inspection, or the date the certificate of occupancy was issued for the property, whichever is later, the homebuilder shall no longer be entitled to the exemption pursuant to subparagraph (A) with respect to that property.
(2)
Property owned or occupied by a person or entity other than a homebuilder that is part of a residential or mixed-use project that was subject to an inclusionary housing policy shall be exempt from any funding mechanism described in subparagraph (A) or (D) of paragraph (1) of subdivision (a) until five years after the date of the final inspection, or the date the certificate of occupancy was issued for the property, whichever is later.
(h)
“Homebuilder” means any entity or individual, including, but not limited to, a builder, developer, general contractor, or contractor that is principally in the business of developing land or building residential units.
Homebuilder shall include, but is not limited to, a parent or subsidiary entity, member, partner, joint venture partner, or similarly affiliated person or entity.
(i)
“Inclusionary housing policy” means a requirement, as a condition of development of residential units, that the development include a certain percentage of residential units affordable to, and occupied by, households with specified income limits. “Inclusionary housing policy” includes any alternative means of compliance that is provided for, including, but not limited to, in-lieu fees, land dedication, offsite construction, or acquisition and rehabilitation of existing units. “Inclusionary housing policy” includes an affordable housing impact fee.