Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2017
Property Tax Annotations
A B C D E F G H I L M N O P R S T U V W
W
880.0000 WELFARE EXEMPTION
(a) IN GENERAL
Annotation 880.0166
880.0166 Managing General Partner. Revenue and Taxation Code section 214(g)(1) provides exemption from property taxes for property used to provide low-income housing and related facilities owned and operated by limited partnerships in which the managing general partner is an eligible nonprofit corporation. To be a managing general partner, the nonprofit corporation should possess the authority to exercise some substantial management duties over some aspect of the partnership business on a day to day basis. This authority may be shared to some extent with other general partners in the limited partnership. C 2/17/2000.