{"code":"RTC","codeName":"Revenue and Taxation Code","section":"275.5","citation":"Rev. & Tax. Code, § 275.5","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1. PROPERTY TAXATION [50. - 5911.]","url":"https://blackletter.si/revenue-and-taxation-code/division-1"},{"name":"PART 2. ASSESSMENT [201. - 1367.]","url":"https://blackletter.si/revenue-and-taxation-code/division-1/part-2"},{"name":"CHAPTER 1. Taxation Base [201. - 287.]","url":"https://blackletter.si/revenue-and-taxation-code/division-1/part-2/chapter-1"},{"name":"ARTICLE 2.5. Late Exemption Claims [270. - 279.5.]","url":"https://blackletter.si/revenue-and-taxation-code/division-1/part-2/chapter-1/article-2.5"}],"history":"Amended by Stats. 1998, Ch. 695, Sec. 3.   Effective January 1, 1999.","effective":"1999-01-01","html":"<p>If a person claiming classification of a vessel as a documented vessel eligible for assessment under Section <a href=\"/rtc/227\">227</a> fails to file the affidavit required by Section <a href=\"/rtc/254\">254</a> by 5 p.m. on February 15 of the calendar year in which the fiscal year begins, but files that affidavit on or before the following August 1, the assessment shall be reduced in a sum equal to 80 percent of the reduction that would have been allowed had the affidavit been timely filed.</p>","text":"If a person claiming classification of a vessel as a documented vessel eligible for assessment under Section 227 fails to file the affidavit required by Section 254 by 5 p.m. on February 15 of the calendar year in which the fiscal year begins, but files that affidavit on or before the following August 1, the assessment shall be reduced in a sum equal to 80 percent of the reduction that would have been allowed had the affidavit been timely filed.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/late-exemption-claims-275-5","source":"California Legislative Information bulk export (pubinfo)"}