California Revenue and Taxation Code 98.2 – For the 2011-12 fiscal year, and each fiscal year thereafter, the …
For the 2011-12 fiscal year, and each fiscal year thereafter, the computations provided for in Sections 98 and 98.1 shall be performed in a manner which recognizes that passthrough payments formerly required under the Community Redevelopment Law (Part 1 (commencing with Section 33000) of Division 24 of the Health and Safety Code) are continuing to be made under the authority of Part 1.85 (commencing with Section 34170) of Division 24 of the Health and Safety Code and those payments shall be recognized in the TEA calculations as though they were made under the Community Redevelopment Law. Additionally, the computations provided for in Sections 98 and 98.1 shall be performed in a manner that recognizes payments to a Redevelopment Property Tax Trust Fund, established pursuant to § 34170.5 of the Health and Safety Code as if they were payments to a redevelopment agency as provided in subdivision (b) of § 33670 of the Health and Safety Code.
(Added by Stats. 2011, 1st Ex. Sess., Ch. 5, Sec. 9. (AB 26 1x) Effective June 29, 2011.)
Terms Used In California Revenue and Taxation Code 98.2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.