AB 1971: Property tax: exclusion from reassessment: home hardening retrofitting improvements.

The bill aims to clarify the definition of "newly constructed" in relation to seismic retrofitting improvements under California law. It seeks to exclude home hardening retrofitting improvements from reassessment as new construction, provided they do not add square footage, change the property's use, or include substantial rehabilitation. This change aims to help homeowners avoid reassessment of their property values after making seismic retrofitting improvements, which can be costly. The bill requires the state board of equalization to adopt rules and regulations to implement this change.