Laura Friedman
- Democratic
- Assemblymember
- District 44
Author
Existing law establishes enhanced infrastructure financing districts to finance public capital facilities or other specified projects of communitywide significance. Existing law provides for the membership of the governing body of the district, referred to as the public financing authority. Existing law authorizes the legislative body of a city or a county to designate a proposed enhanced infrastructure financing district by adopting a resolution of intention to establish the proposed district which, among other things, is required to state that an enhanced infrastructure financing district is proposed and describe the boundaries of the proposed district. Existing law requires the public financing authority to direct the preparation of and adopt an infrastructure financing plan consistent with the general plan and any relevant specific plan, and consisting of, among other things, a financing section. Existing law requires that the financing section include a plan for financing the public facilities, a limit on the total number of dollars of taxes that may be allocated to the district pursuant to the plan, and a date, either not more than 45 years from the date on which the issuance of the bonds is approved for the plan or the issuance of a loan is approved on which the district will cease to exist, by which time all tax allocation to the district will end, or, where the district is divided into project areas, a date on which the infrastructure financing plan will cease to be in effect and all tax allocations to the district will end and a date on which the district's authority to repay indebtedness with incremental tax revenues will end, as specified. This bill, for plans proposed on or after January 1, 2025, would specify that for the purpose of development and construction of passenger rail projects in the County of Los Angeles where at least 75% of the revenue from the district is used for debt service on a federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, the date on which the district will cease to exist shall not be more than 75 years from the date of the approval of a TIFIA loan, as specified. This bill would make legislative findings and declarations as to the necessity of a special statute for specified districts enacted primarily for the purpose of development and construction of zero-emission mass transit projects.
Chaptered by Secretary of State - Chapter 344, Statutes of 2024.
Approved by the Governor.
Enrolled and presented to the Governor at 4:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 76. Noes 0.).
From committee: That the Senate amendments be concurred in. (Ayes 9. Noes 0.) (August 28).
Joint Rule 62(a) suspended.
Re-referred to Com. on L. GOV. pursuant to Assembly Rule 77.2.
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 22 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5223.).
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (May 29).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on L. GOV.
Withdrawn from committee.
Senate Rules Suspended
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on TRANS.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 1869.)
From committee: Do pass. (Ayes 15. Noes 0.) (May 18).
Read second time. Ordered to third reading.
In committee: Set, first hearing. Referred to APPR. suspense file.
In committee: Hearing postponed by committee.
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 15. Noes 0.) (March 20). Re-referred to Com. on APPR.
From printer. May be heard in committee March 16.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB761 | HTML |
| 02/13/23 - Introduced | |
| 09/13/23 - Amended Senate | |
| 05/20/24 - Amended Senate | |
| 09/03/24 - Enrolled | |
| 09/22/24 - Chaptered |
| Document | Format |
|---|---|
| 03/17/23- Assembly Transportation | |
| 05/01/23- Assembly Appropriations | |
| 05/19/23- ASSEMBLY FLOOR ANALYSIS | |
| 05/25/24- Senate Local Government | |
| 05/30/24- Sen. Floor Analyses | |
| 08/21/24- ASSEMBLY FLOOR ANALYSIS | |
| 08/27/24- Assembly Local Government | |
| 08/29/24- ASSEMBLY FLOOR ANALYSIS |
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