1      BEFORE THE CALIFORNIA STATE BOARD OF EQUALIZATION

            2                    1 CIVIC CENTER PLAZA

            3                     IRVINE, CALIFORNIA

            4    

            5    

            6    

            7    

            8                    REPORTER'S TRANSCRIPT

            9                        JULY 14, 2016

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           11    

           12    

           13    

           14    

           15                           ITEM F

           16                       PUBLIC HEARING

           17    F1 PROPOSED AMENDMENTS TO PROPERTY TAX RULE 462.040, 

           18            CHANGE IN OWNERSHIP - JOINT TENANCIES

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           20    

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           22    

           23             

           24    

           25             

           26             

           27                      REPORTED BY:  Kathleen Skidgel 

           28                                     CSR NO. 9039




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            1                        P R E S E N T

            2             

            3    For the Board               
                 of Equalization:           Fiona Ma, CPA
            4                               Chairwoman
                 
            5                               Diane L. Harkey
                                            Vice Chair
            6    
                                            Jerome E. Horton
            7                               Member
                 
            8                               Sen. George Runner (Ret.)
                                            Member                  
            9                               (NOT PRESENT)
                 
           10                               Yvette Stowers 
                                            Appearing for Betty T. 
           11                               Yee, State Controller 
                                            (per Government Code 
           12                               Section 7.9)
                 
           13                               Joann Richmond 
                                            Chief 
           14                               Board Proceedings      
                                            Division
           15    
                 For Board of
           16    Equalization Staff:        Sonya Yim
                                            Tax Counsel III
           17                               Legal Department
                 
           18                               Richard Moon
                                            Tax Counsel IV
           19                               Legal Department
                 
           20    

           21                          ---oOo---

           22    

           23    

           24    

           25    

           26    

           27    

           28    




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            1                               1 CIVIC CENTER PLAZA   

            2                               IRVINE, CALIFORNIA

            3                               JULY 14, 2016

            4                          ---oOo--- 

            5             MS. MA:  Our first item, our first hearing, 

            6    is not here at this moment.  So we will continue 

            7    with the agenda.  And when the taxpayer arrives, 

            8    they will get together with the interpreter.  And 

            9    when they are ready, then Ms. Richmond will let us 

           10    know.  

           11             So we will continue with the agenda.  And I 

           12    believe the next one would be -- 

           13             Well, Ms. Richmond, why don't you call the 

           14    next agenda item then.  

           15             MS. RICHMOND:  So our first item for this 

           16    morning would be Item F, our public hearing; F1 

           17    Proposed Amendments to Property Tax Rule 462.040, 

           18    Change in Ownership, Joint Tenancies.  

           19             MS. YIM:  Good morning.  

           20             MS. MA:  Thank you.  Please commence your 

           21    presentation by introducing yourself for the 

           22    record.  

           23             MS. YIM:  Yes.  Good morning, Chairwoman Ma 

           24    and Members of the Board.  I'm Sonya Yim from the 

           25    Legal Department, and next to me is Richard Moon, 

           26    who is also from the Legal Department.  We are here 

           27    to recommend and request that the Board vote to 

           28    adopt the proposed amendments to Property Tax Rule 




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            1    462.040 regarding change in ownership for joint 

            2    tenancies.  

            3             The proposed amendments make the rule 

            4    consistent with current law regarding the types of 

            5    transfers that create original transfer or status 

            6    for joint tenants, as well as the change in 

            7    ownership consequences for transfers that terminate 

            8    interests in joint tenancies, and they clarify the 

            9    rule's current examples in this regard.  

           10             The proposed amendments make the rule 

           11    consistent with current law regarding the exclusion 

           12    from change in ownership for transfers between 

           13    co-tenants as well.  The proposed amendments also 

           14    reorganize the rule's current provisions and 

           15    examples by topic and provide descriptive 

           16    subheadings.  

           17             MS. MA:  Okay.  Seeing no members of the 

           18    public with comments, Members, any -- 

           19             MR. HORTON:  Move adoption of the 

           20    amendments, Madam Chair.  

           21             MS. HARKEY:  Second.  

           22             MS. STOWERS:  Second.  

           23             MS. MA:  Okay.  Mr. Horton moves staff 

           24    recommendation, seconded by Ms. Harkey.  

           25             Without objection, motion carries.  

           26             Thank you.  

           27             MS. YIM:  Thank you.  

           28                          ---oOo---




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            1                   REPORTER'S CERTIFICATE

            2    

            3    State of California    )

            4                           )  ss

            5    County of Sacramento   )

            6    

            7             I, Kathleen Skidgel, Hearing Reporter for 

            8    the California State Board of Equalization certify 

            9    that on July 14, 2016 I recorded verbatim, in 

           10    shorthand, to the best of my ability, the 

           11    proceedings in the above-entitled hearing; that I 

           12    transcribed the shorthand writing into typewriting; 

           13    and that the preceding pages 1 through 4 constitute 

           14    a complete and accurate transcription of the 

           15    shorthand writing.

           16    

           17    Dated:  July 18, 2016

           18    

           19    

           20                           ____________________________

           21                           KATHLEEN SKIDGEL, CSR #9039

           22                           Hearing Reporter

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