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Title:
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Hearing held to consider the proposed initiative ordinance submitted by four of more Supervisors to the voters at the November 4, 2014, Election entitled "Ordinance amending the Business and Tax Regulations Code to impose a surtax on the transfer of certain residential real property within five years of the prior transfer of the property, to exempt certain transfers from the surtax, and to permit the Board of Supervisors to exempt from the surtax and the existing tax imposed under Article 12-C of the Business and Tax Regulations Code transfers of real property subject to certain affordability-based restrictions on the occupancy of the real property.
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