Title:
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Subject: Resolution In Support Of AB 1771 Ward
From: Councilmember Kalb
Recommendation: Adopt A Resolution In Support Of State Assembly Bill 1771 (Ward) The California Housing Speculation Act Which Would For Taxable Years Beginning On Or After January 1, 2023 Impose An Additional 25% Tax On That Portion Of A Qualified Taxpayer’s Net Capital Gain From The Sale Or Exchange Of Residential Property, As Defined And Reducing Those Taxes Depending On How Many Years Have Passed Since The Initial Purchase
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