{"code":"RTC","codeName":"Revenue and Taxation Code","section":"24947","citation":"Rev. & Tax. Code, § 24947","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 11. CORPORATION TAX LAW [23001. - 25141.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11"},{"name":"CHAPTER 15. Gain or Loss on Disposition of Property [24901. - 24998.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-15"},{"name":"ARTICLE 3. Nontaxable Exchanges [24941. - 24955.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-15/article-3"}],"history":"Repealed and added by Stats. 1997, Ch. 611, Sec. 98.   Effective October 3, 1997.","effective":"1997-10-03","html":"<p>(a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise provided.</p><p>(b) Section 1033(b)(1) of the Internal Revenue Code is modified by substituting “subdivision (a) of Section <a href=\"/rtc/24943\">24943</a>” in lieu of “subsection (a)(1).”</p><p>(c) Section 1033(b)(2) of the Internal Revenue Code is modified by substituting “subdivision (b) of Section <a href=\"/rtc/24943\">24943</a>” in lieu of “subsection (a)(2).”</p><p>(d) Section 1033(b)(3) of the Internal Revenue Code is modified by substituting “subdivision (b) of Section <a href=\"/rtc/24943\">24943</a>” in lieu of “subsection (a)(2)(E).”</p>","text":"(a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise provided. (b) Section 1033(b)(1) of the Internal Revenue Code is modified by substituting “subdivision (a) of Section 24943” in lieu of “subsection (a)(1).” (c) Section 1033(b)(2) of the Internal Revenue Code is modified by substituting “subdivision (b) of Section 24943” in lieu of “subsection (a)(2).” (d) Section 1033(b)(3) of the Internal Revenue Code is modified by substituting “subdivision (b) of Section 24943” in lieu of “subsection (a)(2)(E).”","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/nontaxable-exchanges-24947","source":"California Legislative Information bulk export (pubinfo)"}