AB 1112: Tax Equity Allocation.

The bill aims to amend the property tax law in California, specifically regarding tax equity allocation. It would remove property tax revenues exchanged between the city of Rancho Mirage and a community services district from the reductions to the actual amount distributed to qualifying cities. This change would alter the pro rata shares in which ad valorem property tax revenues are allocated among local agencies in a county, requiring the approval of 2/3 of the membership of each house of the legislature for passage. The bill also establishes procedures for reimbursement if the commission on state mandates determines that the bill contains costs mandated by the state.