Some businesses have exploited a property transfer loophole in Proposition 13 implementing statutes created by the California Legislature that define what constitutes a change in property ownership. To take advantage of this loophole, businesses only have to make sure that no partnership exceeds the 50% mark in control in order to avoid a reassessment. The Legislature could close this loophole with a 2/3 vote. In 2018, the California Board of Equalization estimated that closing this loophole would raise up to $269 million annually in new tax revenue.