AB 2399: Real property tax: welfare exemption: community land trusts.

This bill amends the existing property tax law to include community land trusts within the welfare exemption. The welfare exemption provides a tax break for property used for specific purposes, such as religious, hospital, scientific, or charitable activities. Community land trusts are organizations that acquire and hold land for the benefit of a community, with the goal of providing affordable housing. By including community land trusts in the exemption, the bill aims to support the development and rehabilitation of affordable housing projects.