SB 863: Taxation.

The bill aims to amend various tax laws in California. It requires remittances to be deemed received on the date they are received by the county treasurer-tax collector, unless specified otherwise. The bill also allows tax collectors to reduce the minimum price for selling tax-defaulted property where the minimum necessary to redeem is decreased due to the removal or reduction of defaulted taxes resulting from a special assessment or direct charge. Additionally, the bill changes the requirements for ordinances adopted under the transactions and use tax law, allowing them to become operative on the first day of a calendar quarter or prior to that, but only after an election on the ordinance proposing the tax. The bill also updates the allocation of motion picture credits and the certified studio credit, prohibiting credits generated by disregarded single member limited liability companie…