Laws, Regulations & Annotations

W

880.0000 WELFARE EXEMPTION

(a) IN GENERAL

Annotation 880.0115

880.0115 Irrevocable Dedication and Dissolution Clauses. A statement of irrevocable dedication to charitable and/or public, or charitable and/or public benefit purposes is nonqualifying for purposes of the welfare exemption. Revenue and Taxation Code section 214.01 requires property to be irrevocably dedicated to only religious, charitable, scientific or hospital purposes. Similarly, a dissolution clause that authorizes distribution of a nonprofit organization's assets to charitable and/or public, or charitable and/or public benefit purposes is too broad, as not all public or public benefit purposes are charitable. C 12/13/2002.