Resolution Chapter 100, Statutes of 1984 (SCR 19), requires the Legislative Analyst to study the feasibility of transferring the administration of the homeowners' exemption to the state Franchise Tax Board. Chapter I of this report discusses the present administrative procedure, and our estimates of the cost incurred by county governments on a statewide basis. In Chapter II, we examine several alternative ways of implementing the transfer of administrative duties, and discuss the fiscal and other implications of the most feasible alternative in detail.