(Title and Section amended by Ord. No. 177,216, Eff. 2/8/06.)
Any person or entity that has a State of California (State) Sales and Use Tax Permit (Permit) shall be eligible to receive a rebate of 20% of the net use tax gain, as described below, received by the City from a purchase, lease, or any other transaction that is subject to use tax and in which the City of Los Angeles (City) is properly identified as the jurisdiction in which the property acquired under the permit is first functionally used, stored or consumed. A person or entity must file a claim for a use tax rebate with the Director of Finance (Director) within one year from the payment of the use tax to the State. The claim must contain documentation to substantiate the rebate. The Director may request from the claimant any other information necessary to substantiate the rebate claim.
The Director shall issue the rebate after verification that the City received the correct amount of funds from the State. The use tax rebate shall be 20% of the difference between the amount of use tax actually received by the City because the Permit was used and the amount of use tax the City would have received if the tax had been allocated to the Los Angles Countywide pool. The rebate shall be paid directly to the claimant but shall be increased or decreased in accordance with any adjustment made by the State to a prior use tax payment by the claimant.
The City reserves the right to amend or discontinue any provision of this program without voter approval. Any amendment shall be made by ordinance and shall be applicable to any transaction made subsequent to the effective date of any ordinance.