California § 63032 - Neither the bank nor a special purpose trust authorized by the bank is required t
Full text of California Public Contract Code - PCC § 63032 — Neither the bank nor a special purpose trust authorized by the bank is required t, with citation guidance and answers to common questions.
§ 63032. Neither the bank nor a special purpose trust authorized by the bank is required t
(a) Neither the bank nor a special purpose trust authorized by the bank is required to pay any property taxes or assessments upon, or with respect to, any project or any property acquired by, or for, the bank under this division, or upon the income therefrom, so long as the bank, on behalf of the state, holds title to the project or to the property contained in the project. (b) The exemption of the bank or of a special purpose trust from taxation of any property shall cease when title to the property is transferred from the bank to any taxable person or entity. This section does not exempt any taxable person or entity from taxation, including, but not limited to, taxation upon a possessory interest, with respect to any project, or the property of facilities contained in any project that may otherwise be applicable to the person.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 63032
What does Public Contract Code - PCC § 63032 cover?
Section 63032 ("Neither the bank nor a special purpose trust authorized by the bank is required t") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 63032?
A common citation format is "Public Contract Code - PCC § 63032" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 63032 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.