SB 293: Real property tax: transfer of base year value: generational transfers: wildfire.

The bill aims to amend sections 63.1 and 63.2 of the Revenue and Taxation Code, relating to taxation. It makes the following changes: The bill allows for a 3-year window to file for exclusions on generational transfers of property, such as family homes or farms, in the case of wildfires. This exception applies to claims filed before January 1, 2031. Additionally, the bill expands the timeframe for filing for homeowners' and disabled veterans' exemptions to be treated as timely, provided specified requirements are met. This exception also applies to claims filed before January 1, 2031. The bill also requires the state to reimburse local agencies and school districts for certain costs mandated by the state.