pages: FinanceAndManagementCommittee/2007-10-23.pdf, 3
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FinanceAndManagementCommittee | 2007-10-23 | *Finance & Management Meeting Minutes October 23, 2007 Committee 4 Subject: Business Tax Ordinance Amendment From: Finance and Management Agency Recommendation: Adopt An Ordinance Amending Chapter 5.04 Of The Oakland Municipal Code In Order To Correct And Clarify Various Provisions Of The Business Tax Ordinance, To Establish A Late Filing Fee, To Remove Provisions From The Business Tax Ordinance That Are Obsolete Or Repealed By Operation Of Law Or Court Action, To Exempt Owners Of Low Income Housing Tax-Credit Financed Affordable Housing Developments From The Business Tax, To Grant The Director Of Finance Exclusive Discretionary Authority To Waive Penalties, And To Codify Certain Previously Adopted Business Tax Regulations And Policies Relating To Business Reporting And Other Business Tax Procedural Matters 07-0664 Play Video A motion was made by Member Brunner, seconded by Member Nadel, that this matter be *Approve as Amended the Recommendation of Staff, and Forward to the Concurrent Meeting of the Oakland Redevelopment Agency/City Council, due back on November 6, 2007 as a Non-Consent item. The motion carried by the following vote: Votes: Councilmember Aye: Member De La Fuente, Member Brunner, Chair Quan and Member Nadel The Committee amended the Ordinance at Section 5.04.630 part B to state "provided that the property is owned and operated by a partnership in which the managing partner is an eligible nonprofit corporation or limited liability company provided that the property qualifies for the property tax exemption pursuant to Section 214(g) of the California revenue and Taxation Code. To the extent that a portion of the property is eligible for the Section 214(g) exemption, the property shall be exempt from the Business Tax in the same proportion as the Section 214(g) exemption. The owner must submit an application and statement to the Business Tax Section setting forth evidence establishing its qualifications for this exemption, including a copy of the Section 214(g) exemption" The following individual(s) spoke and did not indicate a position on this item: - Sanjiv Handa - Kate McKean - David Doloaite City of Oakland Page 3 Printed on 11/16/07 | 3 | FinanceAndManagementCommittee/2007-10-23.pdf |