Revenue and Taxation Code section 24993

(a)

Section 7872 of the Internal Revenue Code, relating to the treatment of loans with below market interest rates, shall apply, except as otherwise provided.

(b)

Section 7872(h) of the Internal Revenue Code, relating to exception for loans to qualified continuing care facilities, shall apply to calendar years beginning on or after January 1, 2010, with respect to loans made before, on, or after that date.

Source: Section 24993, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=RTC§ionNum=24993.­ (updated Jan. 1, 2011; accessed Jul. 7, 2025).

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Verified:
Jul. 7, 2025

§ 24993's source at ca​.gov