Stephen R. Hofer, Esq. will address the Aviation Committee of the Valley Industrial Commerce Association (VICA) at their luncheon meeting on February 14, 2008. The meeting will be hosted by Jim Dunn at his Airtel Plaza Hotel in Van Nuys. Hofer will speak on developments in California aircraft taxation and, in particular, the new fractional property tax law. “With California’s state budget once again in fiscal shambles, the State Legislature is looking for new ways to extract additional tax revenue from aircraft owners and operators,” says Hofer. The Legislature’s recent adoption of Senate Bill 87 imposes the nation’s first-ever property tax on fractionally owned aircraft and may be just the first of several taxation schemes aimed at California’s business aviation community.