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HomeMy WebLinkAboutStaff Report 14262 City of Palo Alto (ID # 14262) City Council Staff Report Meeting Date: 5/2/2022 Report Type: Information Reports City of Palo Alto Page 1 Title: Sales Tax Digest Summary Calendar 2021 Q4 From: City Manager Lead Department: Administrative Services DISCUSSION This report transmits information regarding the City of Palo Alto’s sales tax receipts for the fourth quarter (October to December) of 2021. There are two attachments to this report that provide further level of information: • City of Palo Alto Sales Tax Digest Summary (Attachment A) • California Policy Update – March 2022 (Attachment B) The City’s sales tax cash receipts of $9 million for the fourth quarter (October to December 2021) is $1.6 million (18.4 percent) higher than the same quarter of the prior year (see Attachment A, Table 5). In contrast, the fourth quarter of 2021 compared to the same quarter of 2019 declined by $847,000(9.4 percent). An important reminder is that the state offered small business a second round of 90-day extensions to pay their fourth quarter of 2020 taxes, and some companies made little or no payments in Q4 of 2020 due to this program. While Palo Alto experienced a 18.4% cash increase for the Q4 2021 from Q4 2020 this comparison includes late payment decreases in the prior year related to the state 90-day extension program, so actual Q4 2021 economic activity did not increase to this extent. After adjustments made for the non-period related payments, the overall economic quarter-over-quarter sales tax activity from Q4 2020 to Q4 2021 increased by 16.7 percent. For the year ending in the fourth quarter of 2021, cash receipts (including county pools) for the City increased by 18.4 percent from the prior year. In comparison, statewide increased by 26.7 percent, Northern California increased by 23.7 percent, and Southern California by 29.0 percent. After adjustments for non-period related payments, the overall economic sales tax activity (local business excluding pools) in Palo Alto for 2021 increased by 17.0 percent, while it increased 15.6 percent for the state, increased 11.6 percent in Northern California and increased 18.3 percent in Southern California. City of Palo Alto Page 2 . The fourth quarter includes $1.8 million of sales tax receipts from the county pool. The City’s share of the county pool for this quarter is 5.9 percent, a slight increase from 5.6 percent in the fourth quarter of 2020. County pools are primarily from online purchases from out of state companies, remote sellers who ship merchandise to California/County destinations, and private vehicle sales that are not directly allocated to a jurisdiction. County pools are allocated to local jurisdictions based on each jurisdiction’s’ share of total sales taxes. Attachments: • Attachment A Palo Alto 2021Q4 Digest Summary • Attachment B California Policy Update City of Palo Alto Sales Tax Digest Summary Collections through February 2022 Sales October through December 2021 (2021Q4) www.avenuinsights.com (800) 800-8181 Page 1 California Overview For the year ending in fourth quarter of 2021, cash receipts increased 26.7% statewide, 23.7% in Northern California and 29.0% in Southern California. However, when adjusted for non-period related payments, the overall economic sales tax activity for the year ending in fourth quarter of 2021 increased by 15.6% statewide, 18.3% in Southern California, and up 11.6% in Northern California. City of Palo Alto For the year ending in the fourth quarter of 2021, sales tax cash receipts for the city increased by 18.4% from the prior year. However, when adjusted for non-period related payments, the overall economic sales tax activity in Palo Alto for the year ending in fourth quarter of 2021 increased by 17.0%. On a quarterly basis, sales tax cash receipts increased by 22.5% from Quarter 4 of 2020 to Quarter 4 of 2021. However, this increase includes late payment anomalies related to a state sales tax extension program (see note below). The period’s cash receipts include tax from business activity during the period, payments for prior periods and other cash adjustments. When adjusted for non-period related payments, the overall economic quarter over quarter sales tax activity (Q4 2020 to Q4 2021) in Palo Alto increased by 16.7%. Note: It is important to recognize that the state offered small businesses a second round of 90-day extensions to pay their fourth quarter of 2020 taxes (the first 90 day extension program was offered in Q1 2020), and some businesses had partial or no payments for the first and fourth quarters of 2020. As a result of these extension programs, some payments for Q4 2020 economic activity were paid in the first quarter of 2021. While Palo Alto experienced a 18.4% cash increase for the Q4 2021 (from Q4 2020), this comparison includes late payment decreases in the prior year related to the state 90-day extension program, so actual Q4 2021 economic activity did not increase to this extent. Regional Overview The first chart on page two shows adjusted economic benchmark year amounts, which means that it shows a full calendar year from the fourth quarter of 2020 through fourth quarter of 2021 compared to fourth quarter of 2019 through fourth quarter of 2020 (benchmark years are rolling annual comparisons through the current quarter). The decrease is different between the state and Palo Alto because the sales tax from businesses in Palo Alto were more impacted than those statewide. Attachment A City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 2 % of Total / % Change Palo Alto California Statewide S.F. Bay Area Sacramento Valley Central Valley South Coast Inland Empire North Coast General Retail 29.7 / 36.9 28.6 / 26.9 24.3 / 8.8 29.2 / 46.0 38.2 / 44.9 27.1 / 29.1 33.5 / 18.2 29.8 / 4.3 Food Products 14.8 / 29.5 19.6 / 17.6 19.9 / 4.3 15.3 / 18.5 14.0 / 21.5 21.6 / 28.4 17.9 / -6.6 16.5 / -20.8 Transportation 23.1 / 32.8 24.1 / 18.1 21.4 / 0.6 27.6 / 22.7 22.4 / 25.8 24.8 / 30.1 24.7 / -9.2 28.7 / 7.7 Business to Business 29.1 / -9.5 16.3 / 3.0 22.1 / -3.4 13.7 / 8.2 14.1 / 12.8 16.2 / 12.0 10.3 / -37.1 9.5 / 0.5 Misc/Other 25.7 / 37.0 25.1 / 17.2 22.6 / 0.1 28.7 / 22.7 23.1 / 25.4 25.9 / 29.7 25.3 / -12.7 29.5 / 8.1 Total 100.0 / 17.0 100 / 15.6 100.0 / 1.2 100.0 / 24.5 100.0 / 27.9 100.0 / 23.9 100.0 / -7.0 100.0 / -1.9 Palo Alto California Statewide S.F. Bay Area Sacramento Valley Central Valley South Coast Inland Empire North Coast Largest Segment Leasing Restaurants Restaurants Auto Sales - New Miscellaneous Retail Restaurants Miscellaneous Retail Auto Sales - New % of Total / % Change 19.3 / 22.8 13.3 / 25.5 13.3 / 12.9 11.9 / 19.5 14.0 / 187.2 15.1 / 36.6 15.3 / 95.2 12.2 / 9.9 2nd Largest Segment Auto Sales - New Auto Sales - New Auto Sales - New Miscellaneous Retail Department Stores Auto Sales - New Auto Sales - New Department Stores % of Total / % Change 19.2 / 31.5 11.8 / 18.6 11.1 / -3.3 10.8 / 144.8 11.0 / 11.9 12.8 / 32.5 11.5 / -1.3 11.6 / 0.1 3rd Largest Segment Restaurants Miscellaneous Retail Department Stores Restaurants Restaurants Department Stores Restaurants Restaurants % of Total / % Change 12.9 / 34.7 8.9 / 57.8 7.5 / 6.6 10.1 / 27.3 9.2 / 28.5 8.4 / 20.4 10.7 / -5.6 10.2 / -28.8 BENCHMARK YEAR 2021Q4 COMPARED TO BENCHMARK YEAR 2020Q4 CITY OF PALO ALTO ECONOMIC CATEGORY ANALYSIS FOR YEAR ENDED 4th Quarter 2021 ECONOMIC SEGMENT ANALYSIS FOR YEAR ENDED 4th Quarter 2021 $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 Quarterly Benchmark Year Regional Overview Chart (Economic) Gross Historical Sales Tax Cash Receipts by Benchmark Year and Quarter (Before Adjustments) Attachment A Chart 1 Chart 2 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 3 Leasing 19.3% Auto Sales -New 19.2% Restaurants 12.9% Department Stores 6.3%Office Equipment 5.2% Furniture/Appliance 4.9% All Other32.0% Net Pools & Adjustments 23.3% Anderson Honda Lucile Packard Children's Hospital Shreve & Co. Apple Stores Macy's Department Store Stanford Health Care Atila Biosystems Magnussen's Toyota Tesla Audi Palo Alto Neiman Marcus Tesla Lease Trust Bloomingdale's Nordstrom Department Store Tiffany & Company Hengehold Trucks Richemont Varian Medical Systems Hermes Rivian Automotive Volvo Cars Palo Alto HP Enterprise Services Shell Service Stations Wilkes Bashford Louis Vuitton Net Cash Receipts for Benchmark Year fourth Quarter 2021: $30,029,813 *Benchmark year (BMY) is the sum of the current and 3 previous quarters (2021Q4 BMY is sum of 2021 Q4, 2021 Q3, 2021 Q2, 2021 Q1) TOP 25 SALES/USE TAX CONTRIBUTORS The following list identifies Palo Alto’s Top 25 Sales/Use Tax contributors. The list is in alphabetical order and represents the year ended fourth quarter of 2021. The Top 25 Sales/Use Tax contributors generate 61.5% of Palo Alto’s total sales and use tax revenue. Attachment A Chart 3 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 4 $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 Benchmark Year 2021Q4 Benchmark Year 2020Q4 Sales Tax from Largest Non-Confidential Sales Tax Segments (Economic) Attachment A Chart 4 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 5 Economic Category % 2021Q4 2021Q3 2021Q2 2021Q1 2020Q4 2020Q3 2020Q2 2020Q1 2019Q4 2019Q3 2019Q2 Business To Business 21.9% 1,969,438 1,762,093 1,652,745 1,765,043 2,060,217 2,022,479 1,851,601 2,000,210 2,375,333 1,942,593 1,958,591 Miscellaneous/Other 18.7% 1,682,102 1,702,838 1,620,383 1,467,407 1,679,573 1,322,172 997,005 1,227,541 1,693,416 1,516,049 1,784,443 General Retail 25.3% 2,273,543 1,798,257 1,803,297 1,262,756 1,746,602 1,300,645 660,300 1,450,820 2,579,412 2,416,101 1,993,425 Food Products 12.0% 1,075,263 970,873 897,222 619,501 668,640 650,152 439,540 990,266 1,256,287 1,205,242 1,268,595 Subtotal Economic (Local Business)77.8% 7,000,346 6,234,061 5,973,646 5,114,708 6,155,031 5,295,448 3,948,447 5,668,837 7,904,447 7,079,986 7,005,054 Net Pools & Adjustments 22.2% 1,995,234 539,929 1,496,795 1,675,094 1,186,152 1,227,876 1,877,921 -2,287 1,937,461 1,477,413 1,741,608 Total Cash Receipts 100.0% 8,995,580 6,773,990 7,470,441 6,789,802 7,341,183 6,523,324 5,826,368 5,666,550 9,841,908 8,557,399 8,746,661 Economic Segment % 2021Q4 2021Q3 2021Q2 2021Q1 2020Q4 2020Q3 2020Q2 2020Q1 2019Q4 2019Q3 2019Q2 Miscellaneous/Other 44.0% 3,962,070 3,837,648 3,654,707 3,499,781 4,170,752 3,682,918 3,181,367 3,551,274 4,677,431 4,315,212 4,044,495 Restaurants 10.5% 941,683 857,066 785,086 527,203 552,176 545,728 342,533 867,027 1,105,719 1,073,522 1,123,322 Miscellaneous Retail 7.5% 676,701 407,467 456,685 327,729 479,041 326,777 108,953 280,493 499,697 384,397 392,196 Apparel Stores 6.0% 537,479 400,589 395,779 264,322 358,744 263,940 72,307 305,737 552,735 469,447 486,790 Department Stores 5.8% 525,295 388,703 384,763 237,473 315,453 186,316 29,842 245,948 552,822 431,717 453,675 Service Stations 2.1% 190,601 181,448 152,565 116,258 111,241 108,840 70,063 146,291 181,082 175,309 185,969 Food Markets 1.2% 106,315 87,521 89,669 71,321 89,396 81,580 77,803 102,026 118,952 104,192 113,363 Business Services 0.7% 60,203 73,620 54,393 70,621 78,228 99,348 65,579 170,042 216,011 126,190 205,245 Subtotal Economic (Local Business)77.8% 7,000,346 6,234,061 5,973,646 5,114,708 6,155,031 5,295,448 3,948,447 5,668,837 7,904,447 7,079,986 7,005,054 Net Pools & Adjustments 22.2% 1,995,234 539,929 1,496,795 1,675,094 1,186,152 1,227,876 1,877,921 -2,287 1,937,461 1,477,413 1,741,608 Total Cash Receipts 100.0% 8,995,580 6,773,990 7,470,441 6,789,802 7,341,183 6,523,324 5,826,368 5,666,550 9,841,908 8,557,399 8,746,661 Historical Analysis by Calendar Quarter The chart above shows the categories and segments in quarterly economic basis amounts. The total amount is the net cash receipts, and it was obtained by adding up the categories/segments with the “Net Pools & Adjustments” amount. Attachment A Chart 5 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 6 Economic Category % 2021Q4 2020Q4 2019Q4 2018Q4 2017Q4 2016Q4 2015Q4 2014Q4 2013Q4 2012Q4 Business To Business 23.7% 7,106,104 7,856,159 8,526,006 6,923,106 5,765,696 5,070,128 4,815,757 3,722,965 3,860,324 4,094,594 Miscellaneous/Other 21.4% 6,431,929 4,914,744 6,140,733 7,467,434 6,334,580 6,173,525 5,725,186 5,268,303 8,630,087 5,034,947 General Retail 24.0% 7,210,111 5,169,979 8,876,515 8,468,481 8,279,644 8,572,836 8,150,481 8,447,737 8,266,524 8,188,718 Food Products 12.0% 3,606,771 2,785,355 4,916,628 4,825,435 4,677,914 4,623,126 4,476,455 4,262,090 3,903,424 3,542,289 Subtotal Economic (Local Business)81.1% 24,354,915 20,726,236 28,459,882 27,684,456 25,057,834 24,439,616 23,167,878 21,701,095 24,660,359 20,860,548 Net Pools & Adjustments 18.9% 5,674,899 4,631,189 6,401,242 5,764,525 4,920,201 4,009,186 3,911,397 3,894,943 3,839,994 2,821,870 Total 100.0% 30,029,813 25,357,425 34,861,123 33,448,981 29,978,035 28,448,802 27,079,275 25,596,038 28,500,353 23,682,418 Economic Segment % 2021Q4 2020Q4 2019Q4 2018Q4 2017Q4 2016Q4 2015Q4 2014Q4 2013Q4 2012Q4 Miscellaneous/Other 49.6% 14,881,551 14,191,982 16,821,950 15,811,518 13,632,374 12,398,850 11,601,816 9,694,930 13,123,466 9,641,105 Restaurants 10.5% 3,149,808 2,337,988 4,352,825 4,232,792 4,068,940 4,022,203 3,890,586 3,788,514 3,438,420 3,085,263 Miscellaneous Retail 6.4% 1,936,333 1,203,367 1,610,503 1,671,521 1,682,467 2,314,331 1,630,021 2,084,833 1,950,685 1,851,707 Apparel Stores 5.3% 1,603,818 1,000,674 1,917,444 1,987,726 1,740,612 1,659,450 1,657,179 1,761,563 1,746,495 1,736,395 Department Stores 5.1% 1,536,282 777,559 1,795,157 1,980,748 2,066,909 2,143,430 2,366,679 2,364,487 2,449,809 2,461,177 Service Stations 2.1% 640,872 436,435 701,520 697,083 613,070 551,153 644,027 768,489 760,188 758,848 Food Markets 1.2% 360,162 357,092 443,454 468,909 504,604 506,996 504,759 417,894 414,074 410,246 Business Services 0.8% 246,088 421,139 817,028 834,159 748,857 843,203 872,811 820,385 777,222 915,807 Subtotal Economic (Local Business)81.1% 24,354,915 20,726,236 28,459,882 27,684,456 25,057,834 24,439,616 23,167,878 21,701,095 24,660,359 20,860,548 Net Pools & Adjustments 18.9% 5,674,899 4,631,189 6,401,242 5,764,525 4,920,201 4,009,186 3,911,397 3,894,943 3,839,994 2,821,870 Total 100.0% 30,029,813 25,357,425 34,861,123 33,448,981 29,978,035 28,448,802 27,079,275 25,596,038 28,500,353 23,682,418 Historical Analysis by Calendar BMY from 2012Q4 to 2021Q4 The chart above shows the categories and segments in benchmark year economic basis amounts. The total amount is the net cash receipts, and it was obtained by adding up the categories/segments with the “Net Pools & Adjustments” amount. Benchmark year (BMY) is the sum of the current and 3 previous quarters (2021Q4 BMY is sum of 2021 Q4, 2021 Q3, 2021 Q2, 2021 Q1). Attachment A Chart 6 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 7 Ge n e r a l R e t a i l Fo o d P r o d u c t s Tr a n s p o r t a t i o n Bu s i n e s s t o B u s i n e s s Mi s c / O t h e r 20 2 1 / 4 T o t a l 20 2 0 / 4 T o t a l % C h g La r g e s t G a i n Se c o n d L a r g e s t Ga i n La r g e s t D e c l i n e Se c o n d L a r g e s t De c l i n e Campbell 17.4% 41.1% 34.1% -42.6% 0.0% 2,475,208 2,258,331 9.6%Restaurants Service Stations Office Equipment I.T. Infrastructure Cupertino 20.4% 50.7% 67.9% 9.3% -15.5% 16,786,565 15,122,688 11.0%Office Equipment Restaurants Recreation Products Bldg.Matls-Retail Gilroy 15.6% 20.6% 57.5% 41.6% -2.4% 4,585,528 3,690,137 24.3%Auto Sales - New Service Stations Miscellaneous Other Bldg.Matls-Retail Los Altos 20.0% 30.4% 55.8% -21.1% -2.4% 652,575 513,339 27.1%Restaurants Service Stations Business Services Green Energy Los Gatos 20.5% 26.6% 2.1% 23.3% -23.7% 1,426,837 1,268,664 12.5%Restaurants Miscellaneous Retail Auto Sales - New Miscellaneous Other Milpitas 43.8% 57.2% 13.0% 3.1% 19.3% 5,714,904 4,718,661 21.1%Restaurants Miscellaneous Retail Office Equipment Business Services Morgan Hill 8.9% 54.5% 51.6% 33.3% 16.6% 2,714,872 2,004,489 35.4%Auto Sales - New Food Markets Auto Parts/Repair Food Processing Eqp Mountain View 22.0% 32.4% 40.3% 75.6% 38.1% 5,280,198 3,878,053 36.2%Business Services Restaurants Office Equipment Biotechnology Palo Alto 29.7% 59.8% 5.0% 3.9% -17.5% 7,094,430 6,081,447 16.7%Restaurants Department Stores Drug Stores Bldg.Matls-Whsle San Jose 26.2% 30.7% 20.2% 10.7% 5.5% 44,283,573 37,145,196 19.2%Restaurants Service Stations Auto Sales - Used Biotechnology Santa Clara 34.3% 59.7% 23.3% 4.2% 33.4% 12,940,458 10,780,628 20.0%Restaurants I.T. Infrastructure Electronic Equipment Business Services County of Santa Clara 55.3% 36.6% -26.6% -18.0% 5.2% 1,168,818 1,045,519 11.8%Restaurants Miscellaneous Retail Misc. Vehicle Sales Heavy Industry Saratoga 16.3% 43.0% 56.6% 116.8% -28.4% 277,988 200,270 38.8%Restaurants Service Stations Miscellaneous Other Electronic Equipment Sunnyvale 35.1% 29.2% 22.6% 25.4% 15.0% 6,788,170 5,378,752 26.2%Restaurants Office Equipment Leasing Biotechnology Quarterly Analysis by Sales Tax Category: Change from 2020Q4 to 2021Q4 (Economic) Unlike the chart on page one which showed a ‘benchmark year’ through fourth quarter of 2021, the chart above shows a comparison of one quarter only – fourth quarter of 2021 to fourth quarter of 2020. This chart is for local ‘brick and mortar’ businesses and it excludes county pools and adjustments. Attachment A Chart 7 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 8 California Avenue % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL FOOD PRODUCTS 87.4% 51,217 27,335 45.4%34.8% GENERAL RETAIL -12.8% 24,189 27,740 21.4%35.3% ALL OTHER 59.3% 37,498 23,533 33.2%29.9% TOTAL 43.6% 112,904 78,609 100.0% 100.0% El Camino Real and Midtown % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL FOOD PRODUCTS 61.6% 146,683 90,789 42.7%29.3% GENERAL RETAIL 20.9% 38,322 31,707 11.2%10.2% ALL OTHER -15.4% 158,265 187,075 46.1%60.4% TOTAL 10.9% 343,271 309,572 100.0% 100.0% Greater Downtown % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL FOOD PRODUCTS 77.9% 407,900 229,271 54.1%46.2% GENERAL RETAIL 37.8% 275,072 199,613 36.5%40.2% BUSINESS TO BUSINESS 3.0% 46,121 44,767 6.1%9.0% CONSTRUCTION -1.8% 13,261 13,500 1.8%2.7% MISCELLANEOUS 25.5% 8,381 6,678 1.1%1.3% TRANSPORTATION 7.4% 3,023 2,816 0.4%0.6% TOTAL 51.8% 753,760 496,646 100.0% 100.0% Stanford Shopping Center % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL GENERAL RETAIL 44.7% 1,435,981 992,726 75.6%73.8% FOOD PRODUCTS 48.1% 149,572 100,969 7.9%7.5% ALL OTHER 25.2% 314,530 251,128 16.6%18.7% TOTAL 41.3% 1,900,084 1,344,823 100.0% 100.0% City of Palo Alto Geo Areas & Citywide Chart Data: Change from 2020Q4 to 2021Q4 (Economic) Attachment A Chart 8 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 9 Town And Country Shopping Center % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL GENERAL RETAIL 33.8% 70,291 52,524 42.3%43.0% ALL OTHER 37.5% 95,801 69,668 57.7%57.0% TOTAL 35.9% 166,092 122,192 100.0% 100.0% All Other Geos combined with Balance of Jurisdiction % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL GENERAL RETAIL 24.5% 1,908,315 1,533,120 31.8%29.1% BUSINESS TO BUSINESS 6.9% 1,894,775 1,772,504 31.6%33.6% TRANSPORTATION 4.2% 1,201,475 1,153,061 20.0%21.9% FOOD PRODUCTS 61.7% 892,135 551,836 14.9%10.5% MISCELLANEOUS -49.8% 61,760 123,140 1.0%2.3% CONSTRUCTION -71.1% 40,926 141,676 0.7%2.7% TOTAL 13.7% 5,999,386 5,275,335 100.0% 100.0% All Geo Area Totals Comparison 21Q4 & 20Q4 % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL Balance of Jurisdiction -6.8% 2,723,276 2,923,494 45.4%55.4% Stanford Shopping Center 41.3% 1,900,084 1,344,823 31.7%25.5% Greater Downtown 51.8% 753,760 496,646 12.6%9.4% El Camino Real and Midtown 10.9% 343,271 309,572 5.7%5.9% Town And Country Shopping Center 35.9% 166,092 122,192 2.8%2.3% California Avenue 43.6% 112,904 78,609 1.9%1.5% TOTAL 13.7% 5,999,386 5,275,335 100.0% 100.0% Palo Alto citywide QE 21Q4 & 20Q4 % CHANGE QoQ 2021Q4 QE 2020Q4 QE 21Q4 % OF TOTAL 20Q4 % OF TOTAL GENERAL RETAIL 29.7% 2,273,543 1,752,309 32.0%28.8% BUSINESS TO BUSINESS 3.9% 2,051,897 1,975,171 28.9%32.5% TRANSPORTATION 5.0% 1,431,846 1,363,578 20.2%22.4% FOOD PRODUCTS 59.8% 1,075,263 672,939 15.2%11.1% MISCELLANEOUS 27.0% 216,384 170,361 3.1%2.8% CONSTRUCTION -69.1% 45,498 147,089 0.6%2.4% TOTAL 16.7% 7,094,430 6,081,447 100.0% 100.0% City of Palo Alto Geo Areas & Citywide Chart Data: Change from 2020Q4 to 2021Q4 (Economic) Cont. Attachment A Chart 9 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 10 FOOD PRODUCTS, 87.4% CHANGE, $51,217 , 45.4% TOTAL GENERAL RETAIL, -12.8% CHANGE, $24,189 , 21.4% TOTAL ALL OTHER, 59.3% CHANGE, $37,498 , 33.2% TOTAL California Avenue 2021Q4 SALES TAX AMOUNTS FOOD PRODUCTS, $27,335 , 34.8%TOTAL GENERAL RETAIL, $27,740 , 35.3%TOTAL ALL OTHER, $23,533 , 29.9%TOTAL California Avenue 2020Q4 SALES TAX AMOUNTS FOOD PRODUCTS, 61.6%CHANGE, $146,683 , 42.7%TOTAL GENERAL RETAIL, 20.9% CHANGE, $38,322 , 11.2%TOTAL ALL OTHER, -15.4% CHANGE, $158,265 , 46.1%TOTAL El Camino Real and Midtown 2021Q4 SALES TAX AMOUNTS FOOD PRODUCTS, $90,789 , 29.3%TOTAL GENERAL RETAIL, $31,707, 10.2%TOTAL ALL OTHER, $187,075, 60.4%TOTAL El Camino Real and Midtown 2020Q4SALES TAX AMOUNTS City of Palo Alto Geo Area Pie Charts Attachment A Chart 10 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 11 FOOD PRODUCTS, 77.9%CHANGE, $407,900 , 54.1%TOTAL GENERAL RETAIL, 37.8% CHANGE, $275,072 , 36.5%TOTAL BUSINESS TO BUSINESS, 3.0% CHANGE, $46,121 , 6.1%TOTAL CONSTRUCTION, -1.8% CHANGE, $13,261 , 1.8%TOTAL MISCELLANEOUS, 25.5% CHANGE, $8,381 , 1.1%TOTAL TRANSPORTATION, 7.4% CHANGE, $3,023 , 0.4%TOTAL Greater Downtown 2021Q4SALES TAX AMOUNTS FOOD PRODUCTS, $229,271 , 46.2%TOTAL GENERAL RETAIL, $199,613 , 40.2%TOTAL BUSINESS TO BUSINESS, $44,767 , 9.0%TOTAL CONSTRUCTION, $13,500 , 2.7%TOTAL MISCELLANEOUS, $6,678 , 1.3%TOTAL TRANSPORTATION, $2,816 , 0.6%TOTAL Greater Downtown 2020Q4SALES TAX AMOUNTS GENERAL RETAIL$992,726 , 73.8%TOTAL FOOD PRODUCTS, $100,969 , 7.5%TOTAL ALL OTHER, $251,128 , 18.7%TOTAL Stanford Shopping Center 2020Q4 SALES TAX AMOUNTS GENERAL RETAIL, 44.7% CHANGE, $1,435,981 , 75.6%TOTAL FOOD PRODUCTS, 48.1% CHANGE, $149,572 , 7.9%TOTAL ALL OTHER, 25.2% CHANGE, $314,530 , 16.6%TOTAL Stanford Shopping Center 2021Q4 SALES TAX AMOUNTS City of Palo Alto Geo Areas Pie Charts Attachment A Chart 11 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 12 GENERAL RETAIL, 33.8%CHANGE, $70,291 , 42.3%TOTAL ALL OTHER, 37.5% CHANGE, $95,801 , 57.7%TOTAL Town And Country Shopping Center 2021Q4SALES TAX AMOUNTS GENERAL RETAIL, $52,524 , 43.0%TOTAL ALL OTHER, $69,668 , 57.0%TOTAL Town And Country Shopping Center2020Q4 SALES TAX AMOUNTS GENERAL RETAIL, 24.5%CHANGE, $1,908,315 , 31.8%TOTAL BUSINESS TO BUSINESS, 6.9% CHANGE, $1,894,775, 31.6% TOTAL TRANSPORTATION, 4.2% CHANGE, $1,201,475, 20.0% TOTAL FOOD PRODUCTS, 61.7% CHANGE, $892,135 , 14.9%TOTAL MISCELLANEOUS, -49.8% CHANGE, $61,760 , 1.0%TOTAL CONSTRUCTION, -71.1% CHANGE, $40,926 , 0.7%TOTAL All Other Geos combined with Balance of Jurisdiction 2021Q4 SALES TAX AMOUNTS GENERAL RETAIL, $1,533,120 , 29.1%TOTAL BUSINESS TO BUSINESS, $1,772,504, 33.6% TOTAL TRANSPORTATION, $1,153,061, 21.9% TOTAL FOOD PRODUCTS, $551,836 , 10.5%TOTAL MISCELLANEOUS, $123,140 , 2.3%TOTAL CONSTRUCTION, $141,676 , 2.7%TOTAL All Other Geos combined with Balance of Jurisdiction 2020Q4SALES TAX AMOUNTS City of Palo Alto Geo Area Pie Charts Attachment A Chart 12 City of Palo Alto www.avenuinsights.com (800) 800-8181 Page 13 Balance of Jurisdiction, -6.8%CHANGE, $2,723,276 , 45.4%TOTAL Stanford Shopping Center, 41.3% CHANGE, $1,900,084 , 31.7%TOTAL Greater Downtown, 51.8% CHANGE, $753,760 , 12.6%TOTAL El Camino Real and Midtown, 10.9% CHANGE, $343,271 , 5.7%TOTAL Town And Country Shopping Center, 35.9% CHANGE, $166,092 , 2.8%TOTAL California Avenue, 43.6% CHANGE, $112,904 , 1.9%TOTAL All Geo Area Totals 2021Q4 SALES TAX AMOUNTS Balance of Jurisdiction, $2,923,494 , 55.4%TOTAL Stanford Shopping Center, $1,344,823 , 25.5%TOTAL Greater Downtown, $496,646 , 9.4%TOTAL El Camino Real and Midtown, $309,572 , 5.9%TOTAL Town And Country Shopping Center, $122,192 , 2.3%TOTAL California Avenue, $78,609 , 1.5%TOTAL All Geo Area Totals 2020Q4 SALES TAX AMOUNTS GENERAL RETAIL, 29.7%CHANGE, $2,273,543 , 32.0%TOTAL BUSINESS TO BUSINESS, 3.9% CHANGE, $2,051,897 , 28.9%TOTAL TRANSPORTATION, 5.0% CHANGE, $1,431,846 , 20.2%TOTAL FOOD PRODUCTS, 59.8% CHANGE, $1,075,263 , 15.2%TOTAL MISCELLANEOUS, 27.0% CHANGE, $216,384 , 3.1%TOTAL CONSTRUCTION, -69.1% CHANGE, $45,498 , 0.6%TOTAL Palo Alto citywide 2021Q4 SALES TAX AMOUNTS GENERAL RETAIL, $1,752,309 , 28.8%TOTAL BUSINESS TO BUSINESS, $1,975,171 ,32.5%TOTAL TRANSPORTATION, $1,363,578 , 22.4%TOTAL FOOD PRODUCTS, $672,939 , 11.1%TOTAL MISCELLANEOUS, $170,361 , 2.8%TOTAL CONSTRUCTION, $147,089 , 2.4%TOTAL Palo Alto citywide 2020Q4 SALES TAX AMOUNTS City of Palo Alto Geo Area & Citywide Pie Charts Attachment A Chart 13 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com March 2021 We are pleased to provide our March 2022 California Policy Update. This issue includes updates on , the Taxpayer Protection and Government Accountability Act (currently being circulated for signatures for potential inclusion on the November 2022 Statewide ballot), and legislation by topic area that is currently going through the legislative process. Please feel free to contact me with any questions. Fran Mancia, Vice President of Government Relations Fran.Mancia@AvenuInsights.com On March 8, Governor Gavin Newsom delivered his annual State of the State Address, going through a Although distinct from his 2022-23 budget presentation, there was not much new information shared, and the speech felt akin to a pep talk or comparative analysis of California versus the nation with California coming out on top. Highlights from the Governor s State of the State Address by topic: Climate: He began with in electric vehicle sales and manufacturing, and tapping into lithium reserves in the Imperial Valley. Employment: $12 billion tax rebate last year, raising the minimum wage, increasing paid sick leave, expanding paid family leave, investing in childcare, and providing healthcare to all regardless of immigration status. COVID-19: Although lockdowns and mask mandates were difficult, California had lower death rates than any other large state. He noted that his SMARTER Plan will assist the state through future variants and seasonal surges. Homelessness: Governor billions of dollars to combat homelessness and created a comprehensive strategy moving forward. This encampment resolution grants and CARE Court will continue the efforts to move individuals from homelessness to housing. Crime: The 2022-23 budget proposal includes $179 million to reduce crime through local law theft rings, reducing the number of illegal firearms in circulation, and investing in crime reduction programs. Education: Amongst the accomplishments Governor Newsom listed were universal transitional kindergarten, before and after school programs, expanded summer school, universal school meals, child savings accounts, and free community college. California Policy Update March 2022 Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com Taxpayer Protection and Government Accountability Act Taxpayer Protection and Government Accountability Act, a constitutional initiative that would limit the ability for state and local governments to impose taxes, fees, and other charges will qualify for the November 2022 ballot. Currently, the campaign finance website is reflecting a donation from the Howard Jarvis Taxpayers Association of $75,000. The measure received an official title and summary fiscal analysis To qualify for the ballot, 997,139 valid signatures are due by June 6, 2022. Proposed California legislation by topic: Administration AB 1944 (Lee) Local government: open and public meetings Status: Referred to Assembly Committee on Local Government Summary: Current law, the Ralph M. Brown Act, requires, with specified exceptions, that all meetings of a legislative body of a local agency, as those terms are defined, be open and public and that all persons be permitted to attend and participate. Current law, until January 1, 2024, authorizes a local agency to use teleconferencing without complying with those specified teleconferencing requirements in specified circumstances when a declared state of emergency is in effect, or in other situations related to public health. This bill would specify that if a member of a legislative body elects to teleconference from a location that is not public, the address does not need to be identified in the notice and agenda or be accessible to the public when the legislative body has elected to allow members to participate via teleconferencing. SB 379 (Wiener) Residential solar energy systems: permitting Status: Read third time. Passed. (Ayes 31. Noes 1.) Ordered to the Assembly. Summary: Current law requires a city or county to approve administratively applications to install solar energy systems through the issuance of a building permit or similar nondiscretionary permit. Current law requires every city, county, or city and county to develop a streamlined permitting process for the installation of small residential rooftop solar energy systems, as that term is defined. Current law prescribes and limits permit fees that a city or county may charge for a residential and commercial solar energy system. Current law creates the State Energy Resources Conservation and Development Commission (Energy Commission) in the Natural Resources Agency and prescribes its duties, which include administering programs for the installation of solar energy systems. This bill would require every city, county, or city and county to implement an online, automated permitting platform that verifies code compliance and issues permits in real time for a solar energy system, as defined, that is no larger than 38.4 kilowatts alternating current nameplate rating and an energy storage system, as defined, paired with a solar energy system that is no larger than 38.4 kilowatts alternating current nameplate rating. Broadband AB 1934 (Rodriguez) Fairgrounds: broadband Status: Awaiting referral to committee Summary: Would state the intent of the Legislature to later enact legislation relating to broadband internet access at fairgrounds used, or designated for use, in emergency response operations. Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com Cannabis AB 2792 (Rubio, Blanca) Cannabis: excise tax: cultivation tax Status: Awaiting referral to committee Summary: MAUCRSA, for purposes of the California Cannabis Equity Act, requires the Department of Cannabis Control to develop and implement a program to provide waivers and deferrals for application fees, licensing fees, and renewal fees required by MAUCRSA, as specified. This bill, from July 1, 2022, to July 1, 2025, inclusive, would prohibit the department from including any mark-up amount in the reduce the rate of the cannabis excise tax imposed on purchasers in a non- The bill, from July 1, 2022, to July 1, 2025, inclusive, would suspend the imposition of the excise tax upon purchasers of cannabis or cannabis products sold in this state by licensees eligible for a fee waiver or deferral pursuant to the program established by the Department of Cannabis Control under the California Cannabis Equity Act. SB 1074 (McGuire) Cannabis: excise tax: cultivation tax Status: Awaiting referral to committee Summary: Current law requires the California Department of Tax and Fee Administration to administer and collect the taxes. Existing law requires revenues from those taxes to be deposited into the California Cannabis Tax Fund, and continuously appropriates that tax fund for specified purposes. This bill would discontinue, beginning on July 1, 2022, the imposition of the cultivation tax. The bill would increase, from July 1, 2025, until July 1, 2026, the excise tax by an additional percentage that the Department of Finance estimates will generate half the amount of revenue that would have been collected pursuant to the cultivation tax, and would, beginning July 1, 2026, instead increase the excise tax by an additional percentage estimated by the department to generate the full amount of revenue that would have been collected pursuant to the cultivation tax. This bill contains other related provisions and other existing laws. SB 1281 (Bradford) Cannabis taxes Status: Awaiting referral to committee Summary: Current law, the Control, Regulate and Tax Adult Use of Marijuana Act (AUMA), an initiative measure, as additionally amended by statute, imposes a weight-based cultivation tax on harvested cannabis that enters the commercial market and a separate excise tax on purchasers of cannabis or cannabis products sold in this state at the rate of 15% of the average market price of any retail sale by a cannabis retailer, as specif mean the average retail price determined by the wholesale cost of the cannabis or cannabis products sold or transferred to a cannabis retailer, plus a mark-up, as determined by the California Department of Tax and Fee Administration on a biannual basis in 6-month intervals. Current law requires the distributor to collect the excise tax from the cannabis retailer and to remit the tax to the department. Current law requires revenues from the cultivation and excise taxes to be deposited into the California Cannabis Tax Fund, and continuously appropriates that tax fund for specified purposes. This bill would discontinue the imposition of the cultivation tax, would reduce the excise tax to 5%, and would remove the mark-up from requirement that the distributor collect the excise tax from the cannabis retailer and would instead require the cannabis retailer to remit the excise tax to the department. The bill would make these provisions effective beginning January 1, 2023. This bill contains other related provisions and other existing laws. Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com SB 1293 (Bradford) Cannabis: taxation Status: Awaiting referral to committee Summary: The Control, Regulate and Tax Adult Use of Marijuana Act (AUMA), an initiative measure approved as Proposition 64 at the November 8, 2016, statewide general election, authorizes a person who obtains a state license under AUMA to engage in commercial adult-use cannabis activity pursuant to that license and applicable local ordinances. This bill would state the intent of the Legislature to help equity licensees obtain a personal income or corporate tax credit that would be equal, or in some proportion, to the normal business expenses that they would otherwise have been able to write off on their federal taxes, but for federal law. The bill would make related legislative findings and declarations. This bill contains other existing laws. Economic Development AB 151 (Committee on Budget) Economic development Status: Referred to the Senate Budget and Fiscal Review Committee Summary: Would revise and recast the California Innovation Hub Program by, among other things, renaming the program as the "California Inclusive Innovation Hub Program," renaming an Innovation Hub as an "Inclusive Innovation Hub," "iHub Squared," or "iHub2," renaming the Innovation Accelerator Account as the "Inclusive Innovation Accelerator Account," and replacing GO-Biz as the government entity directly supervising the program with the Office of the Small Business Advocate (office) within GO-Biz. The bill would also provide that the office limit the iHub2s within the state to stimulating partnerships, economic development, and job creation for underserved geographic areas, industry sectors, and business owners. AB 1864 (Gipson) Small business Status: Awaiting referral to committee Summary: Current law creates w Office of Small Business Advocate, which is led by the Small Business Advocate, who serves as the principal advocate in the state on behalf of small businesses. This bill would state the to enact legislation that would further support small businesses and local governments by incentivizing local hire, which would also retain critical revenue to assist our communities through the pandemic and onward. The bill would state related findings and declarations of the Legislature. AB 2035 (Villapudua) Taxation: credits: California New Employment Credit Status: Referred to the Assembly Committee on Revenue and Taxation Summary: The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including, for taxable years beginning on or after January 1, 2014, and before January 1, 2026, a credit to a qualified taxpayer that hires a qualified full-time employee within a designated census tract or economic development area and that receives a tentative credit reservation for that qualified full-time employee. For the purposes of that credit, a qualified full-time employee is defined as an individual who meets certain requirements and satisfies at least one of two specified conditions relating to the number of hours the employee works and is paid. For purposes of that credit, certain employers that are primarily engaged in certain services, including food services, are excluded from claiming the credit. This bill would expand the definition of qualified taxpayer by permitting a taxpayer that is primarily engaged in certain services, including food services, to claim the credit. For purposes of meeting the definition of qualified full-time employee, the bill would permit, for these qualified taxpayers, an employee to be paid qualified wages by the qualified taxpayer for services not less than an average of 25 hours per week. The bill would also, among other things, define "high unemployment" for purposes of designated pilot areas. Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com AB 2200 (Arambula) Online Jobs and Economic Support Resource Grant Program Status: Referred to the Assembly Committee on Jobs, Economic Development, and the Economy Summary: The Economic Revitalization Act requires GO- economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. This bill would establish the Online Jobs and Economic Support Resource Grant Program within GO-Biz to support inclusive, cross-jurisdictional, and innovative online platforms that support job and earning opportunities and economic recovery with a strong focus on underserved and economically challenged communities. Finance SB 852 (Dodd) Climate resilience districts: formation: funding mechanisms Status: Referred to the Senate Committee on Governance & Finance Summary: Current law authorizes certain local agencies to form a community revitalization authority (authority) within a community revitalization and investment area, as defined, to carry out provisions of the Community Redevelopment Law in that area for purposes related to, among other things, infrastructure, affordable housing, and economic revitalization. Current law provides for the financing of these activities by, among other things, the issuance of bonds serviced by property tax increment revenues, and requires the authority to adopt a community revitalization and investment plan for the community revitalization and investment area that includes elements describing and governing revitalization activities. This bill would authorize a city, county, city and county, special district, or a combination of any of those entities to form a climate resilience district for the purposes of raising and allocating funding for eligible projects and the operating expenses of eligible projects. The bill would of wildfire, drought, and the risk of flooding, as specified. Franchises AB 676 (Holden) Franchises Status: Awaiting referral to committee in the Senate Summary: The California Franchise Relations Act sets forth certain requirements related to the termination, nonrenewal, and transfer of franchises between a franchisor, subfranchisor, and franchisee, as those terms are defined. Current law provides that the act applies to any franchise when either the franchisee is domiciled in this state or the franchised business is or has been operated in this state. This bill would additionally require that any provision of a franchise agreement requiring the franchisee to waive the provisions of this chapter shall be deemed contrary to public policy and shall be void and unenforceable. Housing AB 1748 (Seyarto) Exempt surplus land: regional housing need Status: Referred to the Committees on Assembly Local Government and Housing and Community Development Summary: Current law prescribes requirements for the disposal of surplus land by a local agency. Current law defines "surplus land" for these purposed to mean land owned in fee simple by any local agency for requirements for disposal of surplus land for "exempt surplus land," except as provided. Current law categorizes as "exempt surplus land," surplus land that a local agency is transferring to another local, l would add to the definition of "exempt surplus Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com land," surplus land that is zoned for a density of up to 30 residential units and is owned by a city or county that demonstrates adequate progress in meeting its share of regional housing need in its annual report, as specified, has constructed an adequate number of housing units to meet its share of regional housing need in the immediately preceding or current housing element cycle, as specified, or is designated as prohousing by the department. AB 2179 (Grayson) Development fees and charges: deferral Status: Referred to the Committees on Assembly Local Government and Housing and Community Development Summary: Current law prohibits a local agency that imposes fees or charges on a residential development for the construction of public improvements or facilities from requiring the payment of those fees or charges until the date of the final inspection or the date the certificate of occupancy is issued, whichever occurs first, except that the payment may be required sooner under specified circumstances. This bill would similarly prohibit a noncompliant local agency, as defined, that imposes any fees or charges on a qualified development, as defined, from requiring the payment of those fees or charges until 20 years from the date of the final inspection, or the date the certificate of occupancy is issued, whichever occurs first. AB 2357 (Ting) Surplus land Status: Referred to the Committees on Assembly Local Government and Housing and Community Development Summary: Current law requires the Department of Housing and Community Development to maintain on its internet website, an up-to-date listing of all notices of availability throughout the state. This bill would also require the department to maintain on its internet website a listing of all entities, including housing sponsors, that have notified the department of their interest in surplus land for the purpose of developing low- and moderate-income housing. AB 2428 (Ramos) Mitigation Fee Act: fees for improvements: timeline for expenditure Status: Referred to the Committees on Assembly Local Government and Housing and Community Development Summary: The Mitigation Fee Act, requires a local agency that establishes, increases, or imposes a fee as a condition of approval of a development project to, among other things, determine a reasonable Mitigation Fee Act also imposes additional requirements for fees imposed to provide for an improvement to be constructed to serve a development project, or which is a fee for public improvements, as specified, including that the fees be deposited in a separate capital facilities account or fund. This bill would require a local agency that requires a qualified applicant, as described, to deposit fees for improvements, as described, into an escrow account as a condition for receiving a conditional use permit or equivalent development permit to expend the fees within 5 years of the deposit. SB 1373 (Kamlager) Surplus land disposal Status: Referred to the Senate Committee on Governance & Finance Summary: Current law prescribes requirements for the disposal of surplus land by a local agency, as defined. Current law provides that certain dispositions of real property by local agencies are subject to surplus land disposal procedures as they existed on December 31, 2019, without regard to specified amendments that took effect on January 1, 2020, if those dispositions comply with specified requirements and the disposition is completed not later than December 31, 2022. Current law extends the date that the disposition must be completed by to December 31, 2024, for specified properties, including properties related to the Metro North Hollywood Joint Development Project. Current law further extends the dates Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com by which the disposition of property must be completed, as specified. This bill extends the date by which the disposition of property must be completed to December 31, 2024, if the property is located in a local agency with a population of over 2,000,000 persons and the local agency has either an option agreement redevelopment agency, or an exclusive negotiation agreement with a private entity to develop the subject property for economic development or housing purposes. Privacy & Security AB 1711 (Seyarto) Privacy: breach Status: Referred to the Assembly Committee on Privacy and Consumer Protection Summary: Current law requires an agency or a person or business that conducts business in California that owns or licenses computerized data that includes personal information to disclose a breach of security of the system following discovery or notification of the breach in the security data to certain residents of website when a person or business operating a system on behalf of the agency is required to issue a security breach notification for that system pursuant to the above-described provisions, as specified. Property Tax AB 1206 (Bennett) Property taxation: affordable housing: welfare exemption Status: Awaiting referral to committee in the Senate Summary: Current property tax law, in accordance with the California Constitution, provides for a "welfare exemption" for property used exclusively for religious, hospital, scientific, or charitable purposes and that is owned or operated by certain types of nonprofit entities, if certain qualifying criteria are met. For the 2018 19 fiscal year through the 2027 28 fiscal year, in the case of an owner of property receiving a low-income housing tax credit under specified federal law, current property tax law requires that a unit continue to be treated as occupied by a lower income household for these purposes if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 140% of area median income, adjusted for family size. This bill, for the 2022 23 fiscal year through the 2027 28 fiscal year, would require that a unit continue to be treated as occupied by a lower income household, as described above, if the owner is a community land trust whose land is leased to low-income households, subject to a contract that complies with specified requirements. AB 1707 (Boerner Horvath) Property tax postponement: Senior Citizens and Disabled Citizens Property Tax Postponement Fund Status: Referred to the Assembly Committee on Revenue & Taxation Summary: Current law authorizes the Controller, upon approval of a claim for the postponement of ad valorem property taxes, to directly pay a county tax collector for the property taxes owed by the claimant, as provided. Existing law establishes the Senior Citizens and Disabled Citizens Property Tax Postponement Fund and continuously appropriates moneys in the fund to the Controller for specified purposes, including disbursements relating to the postponement of property taxes pursuant to the Property Tax Postponement Law. Current law requires the Controller to, on June 30, 2018, and on June 30 each year thereafter, transfer any moneys in the fund in excess of $15,000,000 to the General Fund. The bill would require money to be transferred, on June 30, 2023, and on June 30 each year thereafter, from the General Fund to the Senior Citizens and Disabled Citizens Property Tax Postponement Fund when the balance in the latter fund is less than $15,000,000. The bill would require the amount of money transferred each year to be equal to the sum needed to bring the balance of the Senior Citizens and Disabled Citizens Property Tax Postponement Fund to $15,000,000. Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com AB 1839 (Choi) Property tax: tax-defaulted property sales Status: Referred to the Assembly Committee on Revenue & Taxation Summary: Current law governs the sale to certain entities of a property that has been tax defaulted for 5 years or more, or 3 years or more, as applicable, in an applicable county, including by authorizing the state, county, any revenue district the taxes of which on the property are collected by county officers, or a redevelopment agency created pursuant to the California Community Redevelopment Law, to purchase the property or any part thereof, as prescribed. Current law also authorizes a nonprofit organization to purchase, with the approval of the board of supervisors of the county in which it is located, a residential or vacant property that has been tax-defaulted for 5 years or more, or 3 years or more if the property is subject to a nuisance abatement lien, as prescribed. Current law requires the sales price of a property sold pursuant to the provisions described or referenced above to include certain amounts, including all defaulted taxes and assessments and all associated penalties and costs. This bill would require the sales price of a property sold pursuant to those provisions to additionally include, only if the property is exempt from property taxation, an amount sufficient to fairly compensate, for the equity lost, any person with title of record to all or any portion of the property before the recordation of the tax deed to the purchaser. AB 1933 (Friedman) Property taxation: welfare exemption: nonprofit corporation: low- and moderate-income families Status: Referred to the Assembly Committees on Revenue & Taxation and Housing and Community Development Summary: Current property tax law, in accordance with the California Constitution, provides for a "welfare exemption" for property used exclusively for religious, hospital, scientific, or charitable purposes and that is owned or operated by certain types of nonprofit entities, if certain qualifying criteria are met. Current property tax law states that property is within that welfare exemption if the property is owned and operated by a nonprofit corporation, otherwise qualifying for the welfare exemption, that is organized and operated for the specific and primary purpose of building and rehabilitating single or multifamily residences for sale at cost to low-income families, with financing in the form of a zero interest rate loan and without regard to religion, race, national origin, or the sex of the head of household. This bill would also provide that property is fully exempt from property taxation and is also within that welfare exemption if that property is owned and operated by a nonprofit corporation, as described, that is organized and operated for the specific and primary purpose of building and rehabilitating single or multifamily residential units and the units meet specified requirements. AB 2258 (Wood) Property Assessed Clean Energy program: wildfire safety improvements Status: Referred to the Assembly Committees on Local Government and Banking & Finance Summary: Would authorize a public agency that has established a PACE program, as specified, to enter into voluntary contractual assessments with property owners to finance the installation of wildfire safety improvements, as defined, that are permanently fixed to real property and would provide that wildfire resiliency and safety improvements that contribute to the defensible space Zones 1 and 2 of a property, as specified, are wildfire safety improvements for purposes of those provisions. AB 2651 (Petrie-Norris) Property taxes: welfare exemption: community land trust Status: Referred to the Assembly Committee on Revenue & Taxation Summary: Current law provides that property is within the welfare exemption if that property is owned by a community land trust, as defined, otherwise qualifying for the welfare exemption, and specified conditions are met, including that the property is being or will be developed or rehabilitated as housing, as specified. Current law requires the exemption to apply for 5 lien dates, as provided. Current law requires the community land trust to be liable for property tax for the years for which the property was exempt if Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com the property was not developed or rehabilitated, or if the development or rehabilitation is not in the course of construction, within a specified timeframe, depending on when the community land trust acquired the property. Current law requires the community land trust to notify the assessor if property owned by the community land trust is not in the course of construction by these dates. Existing law repeals these provisions on January 1, 2025. This bill would extend the operation of these provisions until January 1, 2030. Sales and Use Taxes AB 1623 (Ramos) Personal income taxes: exclusion: uniformed services retirement pay: survivor benefit plan payments Status: Referred to the Assembly Committee on Revenue & Taxation Summary: The Personal Income year, but excludes certain items of income from the computation of tax, including an exclusion for combat-related special compensation. This bill, for taxable years beginning on or after January 1, 2023, and before January 1, 2033, would exclude from gross income retirement pay received by a taxpayer from the federal government for service performed in the uniformed services, as defined, during the taxable year. The bill, for taxable years beginning on or after January 1, 2023, and before January 1, 2023, would also exclude from gross income annuity payments received by a qualified taxpayer, as defined, pursuant to a United States Department of Defense Survivor Benefit Plan during the taxable year. The bill would make related findings and declarations. This bill contains other related provisions and other existing laws. AB 1702 (Levine) Sales and Use Tax Law: exemptions: COVID-19 prevention and response goods Status: Referred to the Assembly Committee on Revenue & Taxation Summary: Current sales and use tax laws impose taxes 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 those laws. This bill would exempt from those taxes, until January 1, 2025, the gross receipts from the sale of, and the storage, use, or other consumption of, COVID-19 prevention and response goods, as defined. AB 1951 (Grayson) Sales and use tax: exemptions: manufacturing Status: Referred to the Assembly Committee on Revenue & Taxation Summary: Current sales and use tax laws impose taxes 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. The Sales and Use Tax Law provides various exemptions from those taxes, including a partial exemption from those taxes, on and after July 1, 2014, and before July 1, 2030, for the gross receipts from the sale of, and the storage, use, or other consumption of, qualified tangible personal property purchased by a qualified person for purchases not exceeding $200,000,000, for use primarily in manufacturing, processing, refining, fabricating, or recycling of tangible personal property, as specified; qualified tangible personal property purchased for use by a qualified person to be used primarily in research and development, as provided; qualified tangible personal property purchased for use by a qualified person to be used primarily to maintain, repair, measure, or test any qualified tangible personal property, as provided; and qualified tangible personal property purchased by a contractor purchasing that property for use in the performance of a construction contract for the qualified person, that will use that property as an integral part of specified processes. Current law, on and after January 1, 2018, and before July 1, 2030, additionally exempts from those taxes the sale of, and the storage, use, or other consumption of, qualified tangible personal property purchased for use by a qualified person to be used primarily in the generation or Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com production, as defined, or storage and distribution, as defined, of electric power. Current law does not apply this exemption to an apportioning trade or business, as specified. Existing law provides that qualified tangible personal property does not include consumables with a useful life of less than one year. This bill would recast and restate these provisions to clarify the application of the exemption provided and update certain definitions to correspond to current federal guidelines. AB 2622 (Mullin) Sales and use taxes: exemptions: California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project: transit buses. Status: Referred to the Assembly Committee on Revenue & Taxation Summary: Current state sales and use tax laws impose 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. The Sales and Use Tax Law provides various exemptions from those taxes, including, until January 1, 2024, an exemption from those taxes with respect to the sale in this state of, and the storage, use, or other consumption in this state of, specified zero-emission technology transit buses sold to specified public agencies that are eligible for specified incentives from the State Air Resources Board. This bill would extend the exemption for specified zero-emission technology transit buses until January 1, 2034. AB 2835 (Fong) Sales and use taxes: exemptions: nonprofit blood centers Status: Awaiting referral to committee Summary: The Sales and Use Tax Law provides various exemptions from that tax. This bill would exempt, on and after January 1, 2023, from sales and use tax the sale of tangible personal property to, or the use of tangible personal property by, a nonprofit organization that recruits blood donors, and is a member of an organization promoting blood banking services, as specified. ACA 5 (Voepel) Motor vehicles: fuel taxes, sales and use taxes, and fees: expenditure restrictions Status: Referred to the Assembly Committee on Transportation Summary: The California Constitution restricts the expenditure of revenues from taxes imposed by the state on fuels used in motor vehicles upon public streets and highways to street and highway and certain mass transit purposes. These restrictions do not apply to revenues from taxes or fees imposed under the Sales and Use Tax Law or the Vehicle License Fee Law. This measure would explicitly restrict the expenditure of all interest earned and other increment derived from the investment of those tax revenues and any proceeds from the lease or sale of real property acquired using those tax revenues only for the purposes described above. SB 542 (Limón) Sales and use taxes: exemption: medium- or heavy-duty zero-emission trucks Status: Awaiting referral to committee in the Assembly Summary: Current sales and use tax laws impose taxes on retailers measured by 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, measured by sales price. The Sales and Use Tax Law provides various exemptions from those taxes. This bill would provide an exemption from those taxes with respect to the sale in this state of, and the storage, use, or other consumption in this state of, a qualified motor vehicle. The bill would define "qualified motor vehicle" as a specified zero-emission truck. The bill would disallow the exemption for sales or uses made on or after January 1, 2025, if the purchaser also received other specified benefits. Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com SB 771 (Becker) Sales and Use Tax Law: zero emissions vehicle exemption Status: Awaiting referral to committee in the Assembly Summary: Current state sales and use tax laws impose 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. The Sales and Use Tax Law provides various exemptions from those taxes. This bill, on or after January 1, 2022, would provide an exemption from those taxes with respect to the sale in this state of, and the storage, use, or other consumption in this state of, a qualified motor vehicle, as defined, sold to a qualified buyer, as defined. The bill would provide that this exemption does not apply to specified state sales and use taxes from which the proceeds are deposited into the Local Revenue Fund, the Local Revenue Fund 2011, or the Local Public Safety Fund. SB 1041 (Atkins) Sales and use taxes: general exemptions Status: Awaiting referral to committee in the Senate Summary: The Sales and Use Tax Law provides various exemptions from those taxes, including an exemption for the sale of, or the storage, use, or consumption of, tangible personal property sold by a thrift store located on a military installation and operated by a designated entity, as defined, that, in partnership with the United States Department of Defense, provides financial, educational, and other assistance to members of the Armed Forces of the United States, eligible family members, and survivors that are in need. Existing law provides that this exemption will remain in effect only until January 1, SB 1312 (Ochoa Bogh) Marketplace facilitators: passenger vehicle rental companies: tax and fee liability relief Status: Referred to the Senate Governance & Finance Committee Summary: Current law, the Fee Collection Procedures Law, provides for the administration and collection of various fee programs and was originally administered by the State Board of Equalization. In 2017, the California Department of Tax and Fee Administration was established, and current law transferred many of the tax and fee administration duties, powers, and responsibilities of the board to the department. This bill would also relieve a marketplace facilitator of liability for the taxes or fees on a retail sale if the marketplace facilitator demonstrates to the satisfaction of the department that the marketplace seller is an unrelated passenger vehicle rental company and is registered to remit sales and use tax to the department. Short-Term Rentals AB 2328 (Flora) Local ordinances: home experience sharing Status: Referred to the Assembly Committees on Local Government and Judiciary Summary: Current law defines "hosting platform" as a marketplace that is created for the primary purpose of facilitating the rental of a residential unit, as specified. This bill would prohibit a city or county from prohibiting or effectively prohibiting the use of property as a home experience sharing unit. The bill would define "home experience sharing unit" as a privately owned, noncommercial property or residential dwelling unit that is rented partially for a fee for a period of fewer than 18 continuous hours and that does not provide sleeping accommodations to transients. The bill would authorize a city or county to reasonably regulate home experience sharing units to protect the pub Attachment B 1264 Hawks Flight Court #270, El Dorado Hills CA 95762 | 559-288-7296 | www.avenuinsights.com Taxation AB 1626 (Nguyen) Motor Vehicle Fuel Tax Law: limitation on adjustment Status: Awaiting referral to committee Summary: Existing law, the Motor Vehicle Fuel Tax Law, administered by the California Department of Tax and Fee Administration, imposes a tax upon each gallon of motor vehicle fuel removed from a refinery or terminal rack in this state, entered into this state, or sold in this state, at a specified rate per gallon. Existing law requires the department to annually adjust the tax imposed by increasing the rates based on the California Consumer Price Index, as specified. This bill would limit the above-described annual adjustment to a maximum of 2% for rate adjustments made on or after July 1, 2023. AB 1638 (Kiley) Motor Vehicle Fuel Tax Law: suspension of tax Status: Awaiting referral to committee Summary: Would suspend the imposition of the tax on motor vehicle fuels for 6 months. The bill would direct the Controller to transfer a specified amount from the General Fund to the Motor Vehicle Fuel Account in the Transportation Tax Fund. By transferring General Fund moneys to a continuously appropriated account, this bill would make an appropriation. AB 1708 (Kiley) Law enforcement: sharing data Status: Referred to the Assembly Revenue & Taxation Committee Summary: Current law prohibits a law enforcement official from cooperating with immigration authorities where individuals were arrested, detained, or convicted of misdemeanors that were previously felonies or were previously crimes punishable as either misdemeanors or felonies, as specified. Current law prohibits immigration status in regard to access to educational or rehabilitative programming or credit-earning restrictions on state and local law enforcement agencies. AB 1729 (Voepel) Personal income taxes: gross income: exclusion: student loan assistance Status: Referred to the Assembly Revenue & Taxation Committee Summary: The Personal Income Tax Law excludes from the gross income of an employee amounts paid or incurred by an employer for educational assistance to the employee, as specified, up to $5,250 during a calendar year. This bill would exclude from the gross income of an employee amounts, not exceeding an aggregate amount of $5,250 per year, that are paid or incurred by an employer on or after January 1, 2021, and before January 1, 2026, for the payment of principal or interest on a qualified education loan, as defined, incurred by the employee. SB 49 (Umberg) Income taxes: credits: California Fair Fees Tax Credit Status: Awaiting referral to committee Summary: The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2021, and before January 1, 2026, to a taxpayer that meets certain criteria, including that the taxpayer temporarily ceased business operations for at least 30 consecutive days during the taxable year in response to an emergency order, as defined. The amount of credit would vary based on the number of consecutive days the qualified taxpayer has ceased business operations during the taxable year, with a maximum amount of $6,000 if the qualified taxpayer has temporarily ceased business operations for at least 180 consecutive days, as provided. Attachment B