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.
Cal. Rev. & Tax. Code § 209.5
Taxable and Exempt Property
Applied in 1 court decision — leading case 90 Cal. App. 3d 662 - Kaiser Steel Corp. v. County of Solano (1979)
Most recently applied in 90 Cal. App. 3d 662 - Kaiser Steel Corp. v. County of Solano (March 1979)
Amended by Stats. 1959, Ch. 283.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.