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2018 California Code
Revenue and Taxation Code - RTC
DIVISION 1 - PROPERTY TAXATION
PART 2 - ASSESSMENT
CHAPTER 1 - Taxation Base
ARTICLE 1 - Taxable and Exempt Property
Section 209.5.
Universal Citation: CA Rev & Tax Code § 209.5 (2018)
209.5.
All right, title or interest in or to any vessel of more than 50 tons burden or 100 tons displacement, and the materials and parts held by the builder of the vessel at the site of construction for the specific purpose of incorporation therein, shall be exempt from taxation except for state purposes, while the vessel is under construction within this State.
(Amended by Stats. 1959, Ch. 283.)
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