A resolution to propose to the people of the State of California an amendment to the Constitution of the State, by amending Section 3 of Article XIII thereof, and by amending Section 2 of Article XIIIA thereof, relating to taxation.

(1) The California Constitution requires that all property be taxed unless otherwise provided by the California Constitution or the laws of the United States. The California Constitution exempts, among other things, fruit and nut trees for 4 years after the season in which they were planted in orchard form. This measure would exempt from property taxation pistachio trees for 6 years after the season in which they were planted in orchard form. (2) The California Constitution generally limits ad valorem taxes on real property to 1% of the full cash value of that property. For purposes of this limitation, "full cash value" is defined as the assessor's valuation of real property as shown on the 1975–76 tax bill under "full cash value" or, thereafter, the appraised value of that real property when purchased, newly constructed, or a change in ownership has occurred. The California Constitution authorizes the Legislature to provide that persons over the age of 55 and persons who are severely disabled may transfer the base year value, as defined, of property to a replacement dwelling. This measure would expand the authorization for base year value transfers provided to persons over the age of 55 years to include each individual member of a married couple who is over the age of 55 years, but only with respect to a replacement property purchased or newly constructed on or after the effective date of this measure and only with respect to an individual member of a married couple who has not transferred a base year value prior to that same effective date. This measure would additionally authorize the Legislature to provide for transfer of base year value of property to a replacement dwelling for persons who are the parent or legal guardian of a severely disabled child and reside with that child.