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Title: 3 - Revenue and Finance

Chapter: 12 - Real Property Transfer Tax

Section: 84 - Certain conveyances to nonprofit entities

The tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or other writing by which the state of California, any political subdivision thereof, or agency or instru­mentality of either thereof, conveys to a nonprofit corporation realty the acquisition, construction, or improvement of which was financed or refinanced by obligations issued by the nonprofit corporation on behalf of a governmental unit, within the meaning of Section 1.103-1 (b) of Title 26 of the Code of Federal Regulations.

 

(Ord. 2000-010 § 17, 2000.)