Lois Wolk
- Democratic
Author
(1) Existing law authorizes a legislative body, as defined, to create an infrastructure financing district, adopt an infrastructure financing plan, and issue bonds, for which only the district is liable, to finance specified public facilities, upon voter approval. Existing law authorizes an infrastructure financing district to fund infrastructure projects through tax increment financing, pursuant to the infrastructure financing plan and agreement of affected taxing entities, as defined. This bill would revise and recast the provisions governing infrastructure financing districts. The bill would eliminate the requirement of voter approval for creation of the district and for bond issuance and authorize the legislative body to create the district, subject to specified procedures. The bill would instead authorize a newly created public financing authority, consisting of 5 members, 3 of whom are members of the city council or board of supervisors that established the district, and 2 of whom are members of the public, to adopt the infrastructure financing plan, subject to approval by the legislative body, and issue bonds by majority vote of the authority by resolution. The bill would authorize a public financing authority to enter into joint powers agreements with affected taxing entities with regard to nontaxing authority or powers only. The bill would authorize a district to finance specified actions and projects and prohibit the district from providing financial assistance to a vehicle dealer or big box retailer, as defined. The bill would create a public accountability committee, as specified, to review the actions of the public financing authority. (2) Existing law requires that an infrastructure financing plan created by a legislative body include a date on which the district will cease to exist, which shall not be more than 30 years from the date on which the ordinance forming the district is adopted. This bill instead would specify that the date on which the district would cease to exist would not be more than 40 years from the date on which the public financing authority adopted the resolution adopting the infrastructure financing plan. The bill would also impose additional reporting requirements after the adoption of an infrastructure financing plan.
In Senate. Consideration of Governor's veto pending.
Vetoed by the Governor.
Enrolled and presented to the Governor at 9:45 a.m.
Assembly amendments concurred in. (Ayes 22. Noes 15. Page 5005.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 47. Noes 29. Page 6579.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Read third time and amended. (Ayes 51. Noes 25. Page 6266.)
Ordered to third reading.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 6. Noes 3.) (August 22).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.
Ordered to third reading.
Re-referred to Com. on L. GOV. pursuant to Assembly Rule 77.2.
Read third time and amended. (Page 5344.)
From inactive file.
Ordered to third reading.
Notice of intention to remove from inactive file given by Assembly Member Allen.
Ordered to inactive file on request of Assembly Member Ma.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 5. Noes 3.) (June 29).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.
Read third time. Passed. (Ayes 24. Noes 13. Page 985.) Ordered to the Assembly.
In Assembly. Read first time. Held at Desk.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 6. Noes 3. Page 761.) (April 27).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
Set for hearing April 27.
From printer. May be acted upon on or after March 11.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB214 | HTML |
| 02/08/11 - Introduced | |
| 04/25/11 - Amended Senate | |
| 06/21/11 - Amended Assembly | |
| 06/18/12 - Amended Assembly | |
| 08/06/12 - Amended Assembly | |
| 08/24/12 - Amended Assembly | |
| 09/05/12 - Enrolled |
| Document | Format |
|---|---|
| No related documents. |
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