Alston & Bird Tax Blog

Samantha Bautista

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About Samantha Bautista

Samantha Bautista is an associate in the State & Local Tax Group in Alston & Bird’s Los Angeles office. She focuses her practice on assisting clients with state and local tax and regulation matters, as well as issues involving gift/prepaid card law and unclaimed property law.

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California Updates Unclaimed Property Law to Recognize Electronic Recurring Bank Account Activity

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On September 22, California Governor Jerry Brown signed AB 2258 into law, which revises California’s Unclaimed Property Law (UPL) to expressly recognize that certain electronic recurring transactions constitute “owner-generated activity” that would prevent accounts held by a banking or financial organization from being considered presumed abandoned.  As described by the bill’s author, AB 2258 effectuates a “simple modernization of the statute,” which will “eliminate unnecessary escheatment notices to be sent from the bank to the account holder that require the account holder to affirm [...]Read more

Closing California’s Perceived Prop 13 Corporate Loophole

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SB 259, a bill that includes language to close the perceived loophole in the portion of Proposition 13 which governs “changes of ownership” in entities that own real property located in California, has been returned to the Secretary of the Senate and will not be moving forward. California’s Proposition 13 (“Prop 13”) was famously passed in the 1970’s in an effort to protect property owners from dramatic rises in their annual property tax bills.  It limits the ad valorem taxes on real property to 1% of the full cash value of the property at acquisition, with a 2% annual cap on assessment [...]Read more