Ben Hueso
- Democratic
Author
Existing law dissolved redevelopment agencies and community development agencies as of February 1, 2012, and provides for the designation of successor agencies to wind down the affairs of dissolved redevelopment agencies and to, among other things, make payments due for enforceable obligations. Existing law requires the successor agency to dispose of all remaining assets and terminate its existence within a specified period after the final debt payment, and requires any passthrough payment obligations to cease at that time. Existing law requires the county auditor-controller, as a part of the wind down process, to determine the amount of property taxes that would have been allocated to each redevelopment agency if the agencies had not been dissolved and deposit this amount in a county Redevelopment Property Tax Trust Fund. Revenues in the trust fund are to be allocated to various taxing entities in the county and to cover specified expenses of the former agency, including remitting amounts in the Redevelopment Property Tax Trust Fund to specified entities in the county according to passthrough agreements between the former redevelopment agency and the taxing jurisdiction. This bill would authorize a successor agency and one or more taxing agencies to enter into an agreement to modify the interest owed by a former redevelopment agency under a passthrough agreement that was entered into before January 1, 1994, or owed under any successive amendment of that passthrough agreement, and which is owed as interest on passthrough payments agreed to be deferred by the taxing entity under the passthrough agreement, subject to specified terms and conditions, including that the interest rate on a passthrough agreement modified under these provisions be 0%. The bill would additionally authorize an agreement to modify a passthrough agreement under this bill's provisions to forgive the entirety or a portion of the principal amount of outstanding deferred passthrough payment owed by the former redevelopment agency to a taxing entity. The bill would require that the computation of the amount of passthrough payments made under the above-described existing provisions take into account any modification of a passthrough agreement made under this bill's provisions. The bill would make legislative findings and declarations as to the public purpose served by these provisions.
Chaptered by Secretary of State. Chapter 221, Statutes of 2021.
Approved by the Governor.
Enrolled and presented to the Governor at 3:30 p.m.
Assembly amendments concurred in. (Ayes 38. Noes 0. Page 2525.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 73. Noes 0. Page 2821.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Ordered to third reading.
Read third time and amended.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 16. Noes 0.) (August 19).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (July 12). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on H. & C.D.
From committee: Do pass and re-refer to Com. on H. & C.D. (Ayes 8. Noes 0.) (June 23). Re-referred to Com. on H. & C.D.
Referred to Coms. on L. GOV. and H. & C.D.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 40. Noes 0. Page 1253.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
Set for hearing May 10.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 0. Page 896.) (April 22). Re-referred to Com. on APPR.
Set for hearing April 22.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
From printer. May be acted upon on or after March 24.
Joint Rule 55 suspended. (Ayes 32. Noes 4. Page 272.)
(Ayes 32. Noes 4.)
Art. IV. Sec. 8(a) of the Constitution dispensed with.
Read first time.
Introduced. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB734 | HTML |
| 02/19/21 - Introduced | |
| 03/10/21 - Amended Senate | |
| 07/07/21 - Amended Assembly | |
| 09/03/21 - Amended Assembly | |
| 09/10/21 - Enrolled | |
| 09/22/21 - Chaptered |
| Document | Format |
|---|---|
| 04/19/21- Senate Governance and Finance | |
| 05/12/21- Sen. Floor Analyses | |
| 06/22/21- Assembly Local Government | |
| 07/08/21- Assembly Housing and Community Development | |
| 08/16/21- Assembly Appropriations | |
| 08/25/21- ASSEMBLY FLOOR ANALYSIS | |
| 09/03/21- ASSEMBLY FLOOR ANALYSIS | |
| 09/07/21- Sen. Floor Analyses |
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