Bill Text: CA AB218 | 2011-2012 | Regular Session | Amended
Bill Title: Taxation: estate taxes and sales and use taxes.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2012-02-01 - Died pursuant to Art. IV, Sec. 10(c) of the Constitution. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB218 Detail]
Download: California-2011-AB218-Amended.html
BILL NUMBER: AB 218 AMENDED
BILL TEXT
AMENDED IN ASSEMBLY MAY 2, 2011
AMENDED IN ASSEMBLY FEBRUARY 28, 2011
INTRODUCED BY Assembly Member Wieckowski
( Principal coauthor: Assembly Member
Gatto )
( Coauthor: Assembly Member
Bonnie Lowenthal )
FEBRUARY 1, 2011
An act to amend Section 14302 of, to add Section 6377.1 to, to add
Part 9 (commencing with Section 15000) to Division 2 of, and to
repeal Section 13301 of, the Revenue and Taxation Code, relating to
taxation, and calling a special election to be consolidated with the
next statewide general election, to take effect immediately as an act
calling an election.
LEGISLATIVE COUNSEL'S DIGEST
AB 218, as amended, Wieckowski. Taxation: estate taxes and sales
and use taxes.
(1) Existing law, added by Proposition 6, an initiative measure
enacted by voters at the June 8, 1982, statewide primary election
(hereafter the initiative measure), prohibits the imposition of any
tax on or by reason of any transfer occurring by reason of death, but
imposes a California estate tax, commonly referred to as the "pick
up tax" equal to a certain portion of the maximum allowable amount of
credit for state death taxes allowable under the applicable federal
estate tax law. Due to changes in federal law, the pick up tax became
inoperative as of January 1, 2005. Existing law, for the 2010-
11 fiscal year, reduces an appropriation from
the General Fund to the Controller for subvention payments to
counties under the Williamson Act from $10,000,000 to
zero.
This bill would declare the Legislature's intent to propose an
amendment to the initiative measure to provide a state sales and use
tax exemption for purchases of manufacturing equipment used in the
manufacturing process and to use the revenue generated from imposing
a California estate tax to fully fund the Williamson Act
subventions and to supplant the reduction of General Fund
revenue resulting from the exemption for purchases of manufacturing
equipment.
The bill would propose to the voters of the state a repeal of the
provision of the initiative measure prohibiting the imposition of a
tax on or by reason of any transfer occurring by reason of death. The
proposed amendment to the initiative measure would impose an estate
tax upon the transfer of property of every decedent with an estate
valued at more than $1,000,000, in accordance with specified criteria
and procedures, during the timeframe for which the California pick
up tax provisions are inoperative. The proposed amendment would also
require the Controller to administer and collect the tax imposed, and
would require the personal representative of every estate subject to
the tax to file with the Controller a return and to pay the tax in
the form prescribed by the Controller. The proposed amendment would
make the personal representative of a decedent's estate personally
liable for payment of the estate tax, and would provide that any
personal representative failing to perform these duties shall forfeit
any right to payment for settling the estate. The tax imposed by the
proposed amendment would be a special lien upon the gross estate of
a decedent, extinguishable as specified. Pursuant to those
provisions, no tax would be imposed for any period for which a
federal estate tax is payable to the United States and federal tax
laws allow a credit for state death taxes in an amount that would
otherwise be imposed.
(2) Existing law establishes the Estate Tax Fund and continuously
appropriates the moneys in the fund to pay refunds for estate taxes
and generation skipping transfer taxes, as specified, with the
balance of the money in that fund being transferred to the
unappropriated surplus in the General Fund, upon order of the
Controller.
This bill would propose to the voters an amendment of the
initiative measure to reallocate the moneys in the Estate Tax Fund,
whereby those moneys would be continuously appropriated to pay
refunds for estate taxes, including those imposed upon estates valued
at $1,000,000 or more, and generation skipping transfer taxes. The
amendment to the initiative measure would further provide that
after payment of refunds, those moneys shall be
continuously appropriated, without regard to fiscal year, to make
subvention payments to counties under the Williamson Act, and
the remaining balance of the moneys in the fund shall be transferred
to the unappropriated surplus in the General Fund. The amendment
to the initiative measure would additionally propose to exempt from
the estate tax the value of specified agricultural real property and
agricultural personal property, if certain conditions are met.
(3) The Sales and Use Tax Law imposes a tax on retailers measured
by the gross receipts from the sale of tangible personal property
sold at retail in this state, or on the storage, use, or other
consumption in this state of tangible personal property purchased
from a retailer for storage, use, or other consumption in this state,
and provides various exemptions from the taxes imposed by that law.
The bill would propose an amendment to the initiative measure to
exempt from those sales and use taxes the gross receipts from the
sale of, and the storage, use, or other consumption of, tangible
personal property, as defined, purchased for use by a qualified
person, as defined, to be used in manufacturing, processing,
refining, fabricating, recycling of property, or other specified
processes, and tangible personal property purchased for use by a
contractor for specified purposes, as provided. This amendment would
specify that this exemption does not apply to local sales and use
taxes, transactions and use taxes, and specified state sales and use
taxes. The amendment would permit its provisions to be amended by a
bill passed by a 2/3 vote of the membership of both houses of the
Legislature and signed by the Governor.
(4) Existing law prohibits amendment of the initiative measure by
the Legislature unless the amendment is approved by the voters.
This bill would call a special election to be consolidated with
the next statewide general election. It would condition the amendment
of the initiative measure upon voter approval, and would require the
Secretary of State to submit the provisions of the bill that amend
the initiative statute to the voters for their approval at the next
consolidated statewide election.
This bill would declare that it is to take effect immediately as
an act calling an election.
Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. (a) It is the intent of the Legislature to propose an
amendment to Proposition 6, an initiative measure enacted by the
voters at the June 8, 1982, statewide primary election (hereafter the
initiative measure).
(b) It is the intent of the Legislature, in proposing this
amendment to the initiative measure, to provide a state sales and use
tax exemption for purchases of manufacturing equipment used in the
manufacturing process. It is further the intent of the Legislature,
in proposing this amendment, that the revenue generated from a
proposed estate tax be used, in whole or in part, to fully
fund the Williamson Act subventions and supplant the
reduction of General Fund revenue as a result of the exemption for
purchases of manufacturing equipment used in the manufacturing
process.
(c) This act shall be known and may be cited as the Job Retention
and Economic Recovery Act.
SEC. 2. Section 6377.1 is added to the Revenue and Taxation Code,
to read:
6377.1. (a) (1) There On and after six
months of the enactment of this section, there are exempted
from the taxes imposed by this part, the gross receipts from the sale
of, and the storage, use, or other consumption in this state of, all
of the following:
(A) Tangible personal property purchased for use by a qualified
person to be used primarily in any stage of the manufacturing,
processing, refining, fabricating, or recycling of property,
beginning at the point any raw materials are received by the
qualified person and introduced into the process and ending at the
point at which the manufacturing, processing, refining, fabricating,
or recycling has altered property to its completed form, including
packaging, if required.
(B) Tangible personal property purchased for use by a contractor
purchasing that property for use in the performance of a construction
contract for the qualified person who will use the property as an
integral part of the manufacturing, processing, refining,
fabricating, or recycling process, or as a storage facility for use
in connection with the manufacturing process.
(2) Subdivision (a) shall not apply to the gross receipts from the
sale of, and the storage, use, or other consumption of, tangible
personal property that is used primarily in administration, general
management, or marketing.
(b) For purposes of this section:
(1) "Fabricating" means to make, build, create, produce, or
assemble components or property to work in a new or different manner.
(2) "Manufacturing" means the activity of converting or
conditioning property by changing the form, composition, quality, or
character of the property for ultimate sale at retail or use in the
manufacturing of a product to be ultimately sold at retail.
Manufacturing includes any improvements to tangible personal property
that result in a greater service life or greater functionality than
that of the original property.
(3) "Primarily" means tangible personal property used 50 percent
or more of the time in an activity described in subdivision (a).
(4) "Process" means the period beginning at the point at which any
raw materials are received by the qualified person and introduced
into the manufacturing, processing, refining, fabricating, or
recycling activity of the qualified person and ending at the point at
which the manufacturing, processing, refining, fabricating, or
recycling activity of the qualified person has altered tangible
personal property to its completed form, including packaging, if
required. Raw materials shall be considered to have been introduced
into the process when the raw materials are stored on the same
premises where the qualified person's manufacturing, processing,
refining, or recycling activity is conducted. Raw materials that are
stored on premises other than where the qualified person's
manufacturing, processing, refining, fabricating, or recycling
activity is conducted, shall not be considered to have been
introduced into the manufacturing, processing, refining, fabricating,
or recycling process.
(5) "Processing" means the physical application of the materials
and labor necessary to modify or change the characteristics of
property.
(6) "Qualified person" means either of the following:
(A) A person who is primarily engaged in those lines of business
described in Codes 3111 to 3399, inclusive, or 5112 of the North
American Industry Classification System (NAICS) published by the
United States Office of Management and Budget, 2007 edition.
(B) An affiliate of a person described in subparagraph (A)
provided that the affiliate is a member of the qualified person's
unitary group for which a combined report is required to be filed
under Article 1 (commencing with Section 25101) of Chapter 17 of Part
11.
(7) "Refining" means the process of converting a natural resource
to an intermediate or finished product.
(8) "Tangible personal property" includes, but is not limited to,
all of the following:
(A) Machinery and equipment, including component parts and
contrivances such as belts, shafts, moving parts, and operating
structures.
(B) Equipment or devices used or required to operate, control,
regulate, or maintain the machinery and equipment, including, without
limitation, computers, data processing equipment, and computer
software, together with all repair and replacement parts with a
useful life of one or more years, whether purchased separately or in
conjunction with a complete machine and regardless of whether the
machine or component parts are assembled by the qualified person or
another party. Any repair and replacement parts that the
qualified person treats as having a useful life of one ore more years
for state income or franchise tax purposes shall be presumed to have
a useful life of one or more years for purposes of this section.
(C) Property used in pollution control that meets standards
established by this state or any local or regional governmental
agency within this state.
(D) Special purpose buildings and foundations used as an integral
part of the manufacturing, processing, refining, or fabricating
process, or that constitute a research or storage facility used
during the manufacturing process. Buildings used solely for
warehousing purposes after completion of the manufacturing process
are not included.
(E) Fuels used or consumed in the manufacturing process.
(9) "Tangible personal property" does not include any of the
following:
(A) Consumables with a normal useful life of less than one year,
except as provided in subparagraph (E) of paragraph (8). For
purposes of this section, it shall be presumed that tangible personal
property that the person treats as having a normal useful life of
less than one year for state income or franchise tax purposes is
tangible personal property with a normal useful life of less than one
year.
(B) Furniture, inventory, and equipment used in the extraction
process, or equipment used to store finished products that have
completed the manufacturing process.
(c) No exemption shall be allowed under this section unless the
purchaser furnishes the retailer with an exemption certificate,
completed in accordance with any instructions or regulations as the
board may prescribe, and the retailer subsequently furnishes the
board with a copy of the exemption certificate. The exemption
certificate shall contain the sales price of the machinery or
equipment that is exempt pursuant to subdivision (a).
(d) (1) Notwithstanding any provision of the Bradley-Burns Uniform
Local Sales and Use Tax Law (Part 1.5 (commencing with Section
7200)) or the Transactions and Use Tax Law (Part 1.6 (commencing with
Section 7251)), the exemption established by this section shall not
apply with respect to any tax levied by a county, city, or district
pursuant to, or in accordance with, either of those laws.
(2) Notwithstanding subdivision (a), the exemption established by
this section shall not apply with respect to any tax levied pursuant
to Section 6051.2, 6051.5, 6201.2, or 6201.5
or 6201.2 , or pursuant to Section 35 of Article XIII of the
California Constitution.
(e) Notwithstanding subdivision (a), the exemption provided by
this section shall not apply to any sale or use of property that,
within three years from the date of purchase, is either removed from
California, converted from an exempt use under subdivision (a) to
some other use not qualifying for the exemption, or used in a manner
not qualifying for the exemption. The taxpayer that has received the
exemption under this section for purchasing qualifying personal
property shall notify the board if the property is either removed
from California, converted from an exempt use under subdivision (a)
within three years from the date of purchase, or used in a manner not
qualifying for the exemption.
(f) If a purchaser certifies in writing to the seller that the
property purchased without payment of the tax will be used in a
manner entitling the seller to regard the gross receipts from the
sale as exempt from the sales tax, and within three years from the
date of purchase, the purchaser (1) removes that property outside
California, (2) converts that property for use in a manner not
qualifying for the exemption, or (3) uses that property in a manner
not qualifying for the exemption, the purchaser shall be liable for
payment of sales tax, with applicable interest, as if the purchaser
were a retailer making a retail sale of the property at the time the
property is so removed, converted, or used, and the sales price of
the property to the purchaser shall be deemed the gross receipts from
that retail sale.
(g) This section applies to leases of tangible personal property
classified as "continuing sales" and "continuing purchases" in
accordance with Sections 6006.1 and 6010.1. The exemption established
by this section shall apply to the rentals payable pursuant to such
a lease, if the lessee is a qualified person and the property is used
in an activity described in subdivision (a).
SEC. 3. Section 13301 of the Revenue and Taxation Code is
repealed.
SEC. 4. Section 14302 of the Revenue and Taxation Code is amended
to read:
14302. The moneys in the Estate Tax Fund shall be distributed as
follows:
(a) The moneys are continuously appropriated, without regard to
fiscal year, to pay the refunds authorized by this part, Part 9
(commencing with Section 15000), and Part 9.5 (commencing with
Section 16700).
(b) After payment of refunds pursuant to subdivision (a), the
moneys are continuously appropriated, without regard to fiscal year,
to make subvention payments to counties under the Williamson Act
pursuant to Section 16140 of the Government Code in proportion to the
losses incurred by those counties by reason of the reduction of
assessed property taxes.
(b)
(c) The remaining balance of the moneys in the fund
shall, on order of the Controller, be transferred to the
unappropriated surplus in the General Fund.
SEC. 5. Part 9 (commencing with Section 15000) is added to
Division 2 of the Revenue and Taxation Code, to read:
PART 9. ESTATE TAX
15000. Except where the context otherwise requires, the following
definitions govern the construction of this part:
(a) "Decedent" means any person whose death gives rise to a
transfer.
(b) "Estate" means the real or personal property or interest
therein included in the gross estate of a decedent and includes all
of the following:
(1) All intangible personal property included in the gross estate
of a resident decedent within or without the state or subject to the
jurisdiction thereof.
(2) All intangible personal property in California included in the
gross estate of a nonresident decedent of the United States,
including all stock of a corporation organized under the laws of
California or which has its principal place of business or does the
major part of its business in California or of a federal corporation
or national bank which has its principal place of business or does
the major part of its business in California, excluding, however,
savings accounts in savings and loan associations operating under the
authority of the Division of Savings and Loan or the Federal Home
Loan Bank board and bank deposits, unless those deposits are held and
used in connection with a business conducted or operated, in whole
or in part, in California.
(c) "Estate tax" or "tax" means the tax imposed under this part.
(d) "Federal estate tax" means the tax imposed under the Internal
Revenue Code (26 U.S.C. Sec. 2001 et seq.), as amended.
(e) "Gross estate" means "gross estate" as defined in Section
2051 2031 of the Internal Revenue Code
as amended.
(f) "Personal representative" means any executor or administrator
of the decedent whose death gives rise to a transfer and, with
respect to property that is included in the gross estate for federal
estate tax purposes and which is not in the possession or control of
the personal representative, any person in possession of such
property.
(g) "State," except where the context otherwise indicates, means
this state or any other state of the United States or the District of
Columbia.
(h) "Transfer" means the inclusion of any property or other
interest included in the estate or gross estate of the decedent.
15001. (a) Notwithstanding any other law, an estate tax is hereby
imposed upon the transfer of the property of every decedent who was
a resident of this state at the time of death, in accordance with
subdivision (b).
(b) An estate valued at more than one million dollars ($1,000,000)
shall be taxed in accordance with the following:
Estate's Value is: Tax Rate is:
Over $1,000,000 but not
over
$1,540,000................. $38,800 plus 7.2% of
excess over $1,000,000
Over $1,540,000 but not
over
$2,040,000................. $70,800 plus 8.0% of
excess over $1,540,000
Over $2,040,000 but not
over
$2,540,000................. $106,800 plus 8.8% of
excess over $2,040,000
Over $2,540,000 but not
over
$146,800 plus 9.6% of
$3,040,000................. excess over
$2,540,000
Over $3,040,000 but not
over
$190,800 plus 10.4%
$3,540,000................. of excess over
$3,040,000
Over $3,540,000 but not
over
$238,800 plus 11.2%
$4,040,000................. of excess over
$3,540,000
Over $4,040,000 but not
over
$5,040,000................. $290,800 plus 12% of
excess over $4,040,000
Over $5,040,000 but not
over
$402,800 plus 12.8%
$6,040,000................. of excess over
$5,040,000
Over $6,040,000 but not
over
$522,800 plus 13.6%
$7,040,000................. of excess over
$6,040,000
Over $7,040,000 but not
over
$650,800 plus 14.4%
$8,040,000................. of excess over
$7,040,000
Over $8,040,000 but not
over
$786,800 plus 15.2%
$9,040,000................. of excess over
$8,040,000
Over $9,040,000 but not
over
$10,040,000................ $930,800 plus 16% of
excess over $9,040,000
$1,082,000 plus 16.8%
Over $10,040,000 .......... of excess over
$10,040,000
15002. (a) The estate of every decedent who was a resident of
this state at the time of death shall be allowed a credit against the
tax otherwise due under this part for the aggregate amount of all
estate, inheritance, legacy , and succession taxes
actually paid to any other state with respect to any property owned
by that decedent or subject to those taxes as part of or in
connection with the estate and for which a credit for those taxes
paid to any other state is allowable under the federal estate tax
laws. decedent that are taxable under that state law.
(b) The credit allowed under this section for taxes paid to any
other state shall be limited to that amount that does not reduce the
tax due under this part to an amount less than the credit
allowable by federal estate tax laws for estate, inheritance, legacy
and succession taxes paid to any state proportionate
share of California computed tax to the total estate. The full 100
percent state tax amount is multiplied by a fraction:
(1) The numerator of which is the value of that part of the
decedent's taxable gross estate for
federal estate tax purposes consisting of real and tangible personal
property located in this state plus all intangible personal property.
(2) The denominator of which is the value of the decedent's
taxable gross estate for federal estate
tax purposes , excluding real and tangible personal
property not located in any state. .
15003. (a) A tax is imposed upon the transfer of the estate of
every decedent who at the time of death was a nonresident of this
state and owned real or tangible personal property situated in this
state that would have been taxable under the provisions of Chapter 11
of the Internal Revenue Code as it was in effect as of January 1,
2001, and other provisions of the federal estate tax laws with
respect to the duty to file a return and the calculation of the
taxable estate in effect on the earlier of the date of the decedent's
death or the date immediately preceding the effective date of the
repeal of the federal estate tax.
(b) The amount of the tax shall be computed in the same manner as
provided in Section 15001, the result of which is then multiplied by
a fraction:
(1) The numerator of which is the value of that part of the
decedent's taxable estate determined pursuant to this section
consisting of real and tangible personal property located in this
state.
(2) The denominator of which is the value of the decedent's entire
taxable estate determined pursuant to this section, excluding real
and tangible personal property not located in any state.
15004. (a) The Controller shall administer and collect the tax
imposed by this part.
(b) The personal representative of every estate subject to the tax
imposed by this part shall file with the Controller an estate tax
return and the a federal Internal Revenue
Service Form 706, regardless of the federal filing requirement. The
calculation of the taxable estate in effect on the decedent's
death shall be included with the California return . The
personal representative shall pay the tax and file the estate tax
return in the form prescribed by the Controller.
(c) The Controller may prescribe those forms and reporting
requirements as are necessary to implement the tax, including, but
not limited to, information regarding the total amount of tax due,
the place for filing any return, declaration, statement, or other
document required pursuant to this part and for the payment of the
tax.
(d) The estate tax returns required by this chapter shall be filed
within nine months after the date of the decedent's death.
15005. (a) The personal representative shall pay to the
Controller the full amount of the estate tax when due, out of any
moneys belonging to the estate in the personal representative's
control.
(b) The personal representative shall have the same powers and
duties with respect to the raising of funds for the payment of the
estate tax as conferred upon an executor pursuant to Sections 2205,
2206, 2207A, and 2207B of the Internal Revenue Code and pursuant to
the laws of this state in the case of raising funds for the payment
of a decedent's debts generally. Any provision in a decedent's will
(or revocable trust) in which a decedent effectively waives a right
of recovery under a section of the Internal Revenue Code referred to
in the preceding sentence shall be deemed a waiver of the
corresponding right of recovery under this section, unless the will
or revocable trust specifically states otherwise.
(c) The personal representative of a decedent's estate, or any
part thereof, which is taxable under this part is personally liable
for the payment of the estate tax. In addition to personal liability
for payment of the estate tax, any personal representative failing to
perform the duties under this part shall forfeit any right to any
payment for settling the estate of the decedent.
15006. (a) The tax imposed by this part shall be a special lien
upon the gross estate of a resident decedent and upon the real and
tangible personal property of a nonresident decedent situated in this
state at the time of the decedent's death for 10 years from the
date of death. Any property for which a marital or
charitable deduction was allowed for federal estate tax purposes
shall be exempt from the lien provided by this subdivision.
date of death or the date of filing, whichever is later.
(b) Notwithstanding subdivision (a), the special lien shall be
extinguished under either of the following circumstances:
(1) As to the part of the gross estate sold for the payment of
charges against the estate and expenses of its administration.
(2) Upon determination by the board that the estate tax return has
been filed and the correct tax has been paid, or that no estate tax
return or tax was due.
15007. If a transfer is subject to subdivision (a) of Section
15006, the Controller, the attorney for the personal representative
of the estate, or a California probate referee, upon satisfactory
proof that no inheritance tax is due that would be a lien on the
property transferred by reason of the death of the transferor, may
release all or any portion of the property from any lien imposed by
this part to which the property might otherwise be subject. A
certificate by the Controller, the attorney for the personal
representative of the estate, or a California probate referee to the
effect that any property or interest in that property has been
released from any lien imposed by this part shall be conclusive
evidence as to any bona fide purchaser, encumbrancer, or lessee of
that property, that the property described in the certificate has
been released.
15007. 15008. A tax shall not be
imposed by this part for any period for which a federal estate tax is
payable to the United States and federal tax laws allow a credit for
state death taxes in an amount equal to or greater than the tax that
would otherwise be imposed by this part. During any period that a
tax is not imposed by this part, a tax shall be imposed in accordance
with Part 8 (commencing with Section 13302).
15009. (a) There are exempted from the taxes imposed by this part
the total value of all agricultural real property and agricultural
personal property, if the agricultural real property and agricultural
personal property have an aggregate value that exceeds 50 percent of
the total value of the estate.
(b) If 35 percent or more of the aggregate value of the estate
consists of agricultural real property and agricultural personal
property, the taxes imposed by this part may be paid by installment
plan over 14 years and nine months, with interest due only for the
first five years.
(c) To qualify for an exemption pursuant to subdivision (a) or an
installment plan pursuant to subdivision (c), the agricultural real
property shall be maintained in agricultural production for a minimum
of 10 years after the decedent's death. If the agricultural real
property is not used for agricultural production during that time, or
if the agricultural real property is sold to a nonfamily member of
the decedent, that agricultural real property shall be subject to the
estate tax. If a portion of the agricultural real property is sold
to a nonfamily member of the decedent, only that portion of the
agricultural real property and agricultural personal property that is
sold shall be subject to the estate tax.
(d) For purposes of this section, the following definitions apply:
(1) "Agricultural real property" means property consisting of
lands and buildings, and anything affixed to the land, used in the
commercial production of agricultural commodities. "Agricultural real
property" includes, but is not limited to, barns, coolers, hullers,
packing sheds, offices, warehouses, and other buildings owned by an
individual engaged in a line of business described in Code 11 of the
North American Industrial Classification System (NAICS) published by
the United States Office of Management and Budget, 2007 Edition.
(2) "Agricultural personal property" means property that is not
affixed to or associated with the land and that is owned by an
individual engaged in a line of business described in Code 11 of the
North American Industrial Classification System (NAICS) published by
the United States Office of Management and Budget, 2007 Edition.
"Agricultural personal property" includes, but is not limited to,
farm equipment, machinery, office furniture and equipment, cars, and
trucks purchased and used by an individual or business in the
commercial production of agricultural commodities.
15008. 15010. All moneys collected
under this part shall be deposited in the State Treasury for the
credit of the Estate Tax Fund established by Section 14301.
15009. 15011. This part shall be
administered and implemented in accordance with Part 8 (commencing
with Section 13302) to the extent not in conflict with this part.
SEC. 6. Sections 1 to 5, inclusive, of this act may be amended by
a bill passed by a 2/3 vote of the membership of both houses of the
Legislature and signed by the Governor.
SEC. 7. (a) As an amendment of an initiative statute,
Sections 1 to 6, inclusive, of this act shall become effective only
upon approval by the voters at a statewide election.
(b) A special election is hereby called, to be held throughout the
state on the date of the next statewide election, for approval by
the voters of Sections 1 to 6, inclusive, of this act. The special
election shall be consolidated with the statewide election to be
held. The consolidated elections shall be held and conducted in all
aspects as if there were only one election, and only one form of
ballot shall be used.
(c) Notwithstanding Section 9040 of the Elections Code, or any
other law, the Secretary of State shall, pursuant to subdivision (c)
of Section 10 of Article II of the Constitution, submit Sections 1 to
6, inclusive, of this act to the voters for their approval at the
consolidated statewide election.
SEC. 8. This act calls an election within the meaning of Article
IV of the Constitution and shall go into immediate effect.
