AB 2641: Sales and use taxes: exclusion: pawnbrokers: transfer of vested property.

This bill amends the state sales and use tax law to indefinitely extend the exclusion of the transfer of vested property by a pawnbroker to a person who pledged it as security for a loan. The transfer of vested property is currently excluded from sales and use tax until January 1, 2027. The bill also requires additional information to be included in the tax expenditure, including specific goals, purposes, and objectives, as well as detailed performance indicators and data collection requirements. The state will no longer reimburse local agencies for sales and use tax revenues lost as a result of this exemption.