AB 475

Bill Subjects

Abstract

The Community Redevelopment Law limits the effectiveness of every redevelopment plan adopted on or before December 31, 1993, to 40 years from the adoption of the redevelopment plan or January 1, 2009, whichever is later, after which the agency has no authority to act pursuant to the redevelopment plan except to pay previously incurred indebtedness, to comply with provisions governing compliance with an agency's affordable housing obligations, and to enforce existing covenants, contracts, or other obligations. After 10 years from the termination of the effectiveness of the redevelopment plan pursuant to this provision, a redevelopment agency is prohibited from paying indebtedness or receiving tax-increment revenues, except as specified. This bill would make technical, nonsubstantive changes to this provision.