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Governor Signs Santa Cruz County Tax Relief Bill for the 2011 March Storm
August 27, 2012
(SACRAMENTO, CA) – Today, Governor Brown signed Assembly Bill (AB) 2332 authored by Assemblymember Bill Monning (D-Carmel) to provide some relief to Santa Cruz County residents who sustained property damage or loss as a result of the severe March 2011 Storm.
Between March 15 and 27, 2011, California was struck by a devastating storm, destroying and damaging public facilities and private property throughout the state. Santa Cruz County sustained $15 million in damages, 30 percent of the statewide total. While Governor Brown issued an Emergency Proclamation in April 2011 that requested the federal government declare the event a major disaster, the federal government denied California’s request.
“I am extremely pleased the Governor signed AB 2332. Now some Santa Cruz County residents who sustained damage due to the March storm of last year will be able to obtain some financial relief,” stated Assemblymember Monning. “This is the very least the state can do as the community continues to recover from the storm’s after-effects.”
One of the primary benefits of AB 2332 is the ability for the individuals to file an amended return going as far back as the 2010 tax return deducting the loss attributable to the disaster by October 15, 2012. For additional details on the process for filing or to determine if you are eligible for disaster loss treatment, individuals can reference Franchise Tax Board (FTB) Publication 1034, Internal Revenue Service (IRS) Publication 547, or consult with their tax adviser.
Assemblymember Monning was first elected to represent the 27th Assembly District in 2008 and re-elected in 2010. The 27th Assembly District includes portions of Monterey, Santa Clara and Santa Cruz Counties. Prior to his election to the Assembly, Assemblymember Monning was a professor at the Monterey College of Law and a Professor of International Negotiation and Conflict Resolution at the Monterey Institute of International Studies.
Contact: Ryan Guillen, (916) 319-2027