Grand theft: property value threshold.

Existing law generally provides that grand theft is theft when the money, labor, or real or personal property taken is of a value exceeding $400. This bill would increase the value threshold for committing grand theft from $400 to $950. By revising an element of an existing crime, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.