Bill Text: CA SB780 | 2021-2022 | Regular Session | Introduced
Bill Title: Local finance: public investment authorities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2021-09-28 - Chaptered by Secretary of State. Chapter 391, Statutes of 2021. [SB780 Detail]
Download: California-2021-SB780-Introduced.html
Introduced by Senator Cortese |
February 19, 2021 |
LEGISLATIVE COUNSEL'S DIGEST
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 53398.51.1 of the Government Code is amended to read:53398.51.1.
(a) The public financing authority shall have a membership consisting of one of the following, as appropriate:SEC. 2.
Section 53398.59 of the Government Code is amended to read:53398.59.
A legislative body of a city or county may designate one or more proposed enhanced infrastructure financing districts pursuant to this chapter. Proceedings for the establishment of a district shall be instituted by the adoption of a resolution of intention to establish the proposed district and shall do all of the following:SEC. 3.
Section 53398.63 of the Government Code is amended to read:53398.63.
After receipt of a copy of the resolution of intention to establish a district, the official designated pursuant to Section 53395.62 shall prepare a proposed infrastructure financing plan. The infrastructure financing plan shall be consistent with the generalSEC. 4.
Section 53398.64 of the Government Code is amended to read:53398.64.
(a) The infrastructure financing plan shall be sent to each owner of land within the proposed district and to each affected taxing entity together with any report required by the California Environmental Quality Act (Division 13 (commencing with Section 21000) of the Public Resources Code) that pertains to the proposed public facilities or the proposed development project for which the public facilities are needed, and shall be made available for public inspection. The report shall also be sent to the public financing authority, the planning commission, and the legislative body.SEC. 5.
Section 53398.66 of the Government Code is amended to read:53398.66.
(a) (1) The public financing authority shall consider adoption of the enhanced infrastructure financing plan at three public hearings that shall take place at least 30 days apart. In addition to the notice given to landowners and affected taxing entities pursuant to Sections 53398.60 and 53398.61, the public financing authority shall give notice of each public hearing in accordance with subdivision (i).SEC. 6.
Section 53398.68 of the Government Code is amended to read:53398.68.
(a) The public financing authority shall not enact a resolution proposing formation of a district and providing for the division of taxes of any affected taxing entity pursuant to Article 3 (commencing with Section 53398.75) unless a resolution approving the plan has been adopted by the governing body of each affected taxing entity which is proposed to be subject to division of taxes pursuant to Article 3 (commencing with Section 53398.75) and has been filed with the legislative body at or prior to the time of the hearing.SEC. 7.
Section 62001 of the Government Code is amended to read:62001.
(a) A community revitalization and investment authority is a public body, corporate and politic, with jurisdiction to carry out a community revitalization plan within a community revitalization and investment area. The authority shall be deemed to be the “agency” described in subdivision (b) of Section 16 of Article XVI of the California Constitution for purposes of receiving tax increment revenues. The authority shall have only those powers and duties specifically set forth in Section 62002.SEC. 8.
Section 62002 of the Government Code is amended to read:62002.
An authority may do all of the following:SEC. 9.
Section 62003 of the Government Code is amended to read:62003.
An authority shall adopt a community revitalization and investment plan that may include project areas and a provision for the receipt of tax increment funds generated within the area according to Section 62005, provided the plan includes each of the following elements:SEC. 10.
Section 62006 of the Government Code is amended to read:62006.
(a) The authority shall require the preparation of an annual independent financial audit paid for from revenues of the authority, and review the plan at least annually and make any amendments that are necessary and appropriate in accordance with the(e)Every 10 years, at the public hearing held pursuant to subdivision (b), the authority shall conduct a protest proceeding to consider whether the property owners and residents within the plan area wish to present oral or written protests against the authority. Notice of this protest proceeding shall be included in the written notice of the hearing on the annual report and shall inform the property owner and resident of his or her right to submit an oral or written protest before the close of the public hearing. The protest may state that the property owner or resident objects to the authority taking action to implement the plan on and after the date of the
election described in subdivision (f). The authority shall consider all written and oral protests received prior to the close of the public hearing.
(f)If there is a majority protest, the authority shall not take any further action to implement the plan on and after the date the existence of a majority protest is determined. If between 25 percent and 50 percent of the property owners and residents file protests, then the authority shall call an election of the property owners and residents in the area covered by the plan, and shall not initiate or authorize any new projects until the election is held. A majority protest exists if protests have been filed representing over 50 percent of the combined number of property owners and residents, at least 18 years of age or older, in the area.
(g)An election required pursuant to subdivision (f) shall be held within 90 days of the public hearing and may be held by mail-in ballot. The authority shall adopt, at a duly noticed public hearing, procedures for holding this election.
(h)If a majority of the property owners and residents vote against the plan, then the authority shall not take any further action to implement the plan on and after the date of the election held pursuant to subdivision (e). This section shall not prevent the authority from taking any and all actions and appropriating and expending funds, including, but not limited to, any and all payments on bonded or contractual
indebtedness, to carry out and complete projects for which expenditures of any kind had been made prior to the date of the election and any expenditures for obligations required by Part 2 (commencing with Section 62100) that were incurred prior to the date of the election.