California 2023-2024 Regular Session Status: Enacted

AB 2488 — Downtown revitalization and economic recovery financing districts: City and County of San Francisco.

Last action — Chaptered by Secretary of State - Chapter 274, Statutes of 2024.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 13, 2024. Enacted.

Signed by Governor Gavin Newsom (Democratic) on September 19, 2024.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 7 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law authorizes the legislative body of a city or a county to establish an enhanced infrastructure financing district to finance public capital facilities or other specified projects of communitywide significance, including the acquisition, construction, or rehabilitation of housing for persons of very low, low, and moderate income. Existing law requires the legislative body to establish a public financing authority, defined as the governing board of the enhanced infrastructure financing district, at the same time the resolution to form an enhanced infrastructure district is adopted. Existing law requires the public financing authority to adopt an infrastructure financing plan that includes specified information, including a finding that the development and financial assistance are of communitywide significance and provide significant benefits to an area larger than the area of the district. This bill would authorize the City and County of San Francisco to designate one downtown revitalization and economic recovery financing district for the purpose of financing commercial-to-residential conversion projects with incremental tax revenues generated by commercial-to-residential conversion projects within the district. The bill would require the boundaries of the district to be limited to downtown San Francisco, as defined. The bill would establish a criteria for the composition of the district board. The bill would require the City and County of San Francisco to establish the board for the district at the same time that it adopts the resolution of intention. The bill would require the district to prepare a downtown revitalization financing plan that includes specified information and requirements. In this regard, the bill would require a downtown revitalization financing plan to include a requirement that incremental tax revenues be distributed back to the respective project for the purpose of financing the debt service of the project for 30 years or until the district ceases to exist. The bill would also require the downtown revitalization financing plan to identify each existing commercial building within the district that may opt in to receive incremental tax revenue from the district. The bill would require a district to establish a process for eligible commercial-to-residential conversion projects identified in the financing plan to opt into receiving incremental tax revenue generated by the respective project. The bill would prohibit an eligible commercial-to-residential conversion project from opting in to receive incremental tax revenue from the district after December 31, 2032. The bill would require the financing plan to include a requirement that any remaining incremental tax revenues be used for downtown revitalization programs. The bill would require the financing plan to provide a date upon which the district will cease to exist and tax increment distributions to the district will end. This bill would specify that the commercial-to-residential conversion projects that opt in to receive incremental tax revenue are public works for which prevailing wages shall be paid, as specified. The bill would require the commercial-to-residential conversion projects that opt in to receive incremental tax revenue to comply with labor standards adopted by the Board of Supervisors, as specified. The bill would prohibit commercial-to-residential conversion projects from receiving incremental tax revenue or net available revenue, as defined, if the Board of Supervisors does not adopt labor standards, as specified. This bill would make legislative findings and declarations as to the necessity of a special statute for the City and County of San Francisco.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 274, Statutes of 2024.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4 p.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 72. Noes 0.).

  5. Assembly Rule 77 suspended.

  6. In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 30 pursuant to Assembly Rule 77.

  7. Read third time. Passed. Ordered to the Assembly. (Ayes 32. Noes 5.).

  8. Read second time. Ordered to third reading.

  9. Read third time and amended. Ordered to second reading.

  10. Read second time and amended. Ordered to third reading.

  11. From committee: Amend, and do pass as amended. (Ayes 7. Noes 2.) (July 2).

  12. From committee: Do pass and re-refer to Com. on HOUSING. (Ayes 5. Noes 1.) (June 26). Re-referred to Com. on HOUSING.

  13. In committee: Set, first hearing. Hearing canceled at the request of author.

  14. Referred to Coms. on L. GOV. and HOUSING.

  15. In Senate. Read first time. To Com. on RLS. for assignment.

  16. Read third time. Passed. Ordered to the Senate. (Ayes 71. Noes 1. Page 5186.)

  17. Read second time. Ordered to third reading.

  18. From committee: Do pass. (Ayes 8. Noes 0.) (April 24).

  19. Re-referred to Com. on H. & C.D.

  20. From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.

  21. From committee: Do pass and re-refer to Com. on H. & C.D. (Ayes 9. Noes 0.) (April 17). Re-referred to Com. on H. & C.D.

  22. (Pending re-refer to Com. on H. & C.D.)

  23. Assembly Rule 56 suspended. (Page 4775.)

  24. Re-referred to Com. on L. GOV.

  25. From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.

  26. Referred to Coms. on L. GOV. and H. & C.D.

  27. From printer. May be heard in committee March 15.

  28. Read first time. To print.

Sponsors

  • Ting · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on · 6 voted No

Sponsors (1)

  • Ting

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

AB 2488 Ting Concurrence in Senate Amendments

Passed 72 Yea · 0 Nay · 7 Other
Party YeaNayPresentNot Voting
Democratic 44003
Republican 11003
Unaffiliated 17001
Total 72007
% of votes cast 91%0%0%9%
How each member voted (79)
Member Party Vote
Holden — Yea
Maienschein — Yea
Rodriguez — Yea
Villapudua — Yea
Ting — Yea
Jones-Sawyer — Yea
McCarty — Yea
Rendon — Yea
Friedman — Yea
Wood — Yea
Low — Yea
Waldron — Yea
Santiago — Yea
Mathis — Not Voting
Eduardo Garcia — Yea
Jim Patterson — Yea
Luz Rivas — Yea
Wendy Carrillo — Yea
Addis, Dawn Democratic Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Alvarez, David Democratic Yea
Arambula, Joaquin Democratic Yea
Bains, Jasmeet Democratic Yea
Bauer-Kahan, Rebecca Democratic Yea
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Cervantes, Sabrina Democratic Not Voting
Connolly, Damon Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Haney, Matt Democratic Yea
Hart, Gregg Democratic Yea
Irwin, Jacqui Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Lee, Alex Democratic Yea
Lowenthal, Josh Democratic Yea
McKinnor, Tina Democratic Yea
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Yea
Ortega, Liz Democratic Not Voting
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Soria, Esmeralda Democratic Yea
Valencia, Avelino Democratic Yea
Ward, Christopher M. Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wicks, Buffy Democratic Yea
Wilson, Lori D. Democratic Yea
Zbur, Rick Chavez Democratic Not Voting
Alanis, Juan Republican Yea
Chen, Phillip Republican Yea
Dahle, Megan Republican Not Voting
Davies, Laurie Republican Yea
Dixon, Diane Republican Yea
Essayli, Bill Republican Not Voting
Flora, Heath Republican Yea
Gallagher, James Republican Not Voting
Hoover, Josh Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea
Sanchez, Kate Republican Yea
Ta, Tri Republican Yea
Wallis, Greg Republican Yea

Official roll call →

3rd Reading AB2488 Ting By Wiener

Passed 32 Yea · 5 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 11000
Democratic 21100
Republican 0403
Total 32503
% of votes cast 80%13%0%8%
How each member voted (40)
Member Party Vote
Roth — Yea
Atkins — Yea
Portantino — Yea
Newman — Yea
Min — Yea
Wilk — Yea
Eggman — Yea
Glazer — Yea
Dodd — Yea
Bradford — Yea
Skinner — Yea
Allen, Benjamin Democratic Yea
Archuleta, Bob Democratic Yea
Ashby, Angelique V. Democratic Yea
Becker, Josh Democratic Yea
Blakespear, Catherine S. Democratic Yea
Caballero, Anna M. Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Yea
Hurtado, Melissa Democratic Yea
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
Menjivar, Caroline Democratic Yea
Nguyen, Stephanie Democratic Nay
Padilla, Stephen C. Democratic Yea
Rubio, Susan Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Wiener, Scott D. Democratic Yea
Alvarado-Gil, Marie Republican Not Voting
Dahle, Megan Republican Nay
Grove, Shannon Republican Not Voting
Jones, Brian W. Republican Not Voting
Niello, Roger W. Republican Nay
Ochoa Bogh, Rosilicie Republican Nay
Seyarto, Kelly Republican Nay

Official roll call →

Do pass as amended

Passed 7 Yea · 2 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 6001
Unaffiliated 1000
Republican 0200
Total 7201
% of votes cast 70%20%0%10%
How each member voted (10)
Member Party Vote
Skinner — Yea
Blakespear, Catherine S. Democratic Yea
Caballero, Anna M. Democratic Yea
Cortese, Dave Democratic Yea
Menjivar, Caroline Democratic Not Voting
Padilla, Stephen C. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Ochoa Bogh, Rosilicie Republican Nay
Seyarto, Kelly Republican Nay

Official roll call →

AB 2488 Ting Assembly Third Reading

Passed 71 Yea · 1 Nay · 8 Other
Party YeaNayPresentNot Voting
Democratic 44003
Republican 10103
Unaffiliated 17002
Total 71108
% of votes cast 89%1%0%10%
How each member voted (80)
Member Party Vote
Holden — Yea
Maienschein — Yea
Rodriguez — Yea
Villapudua — Yea
Ting — Yea
Jones-Sawyer — Yea
McCarty — Yea
Rendon — Yea
Friedman — Yea
Low — Yea
Wood — Yea
Waldron — Yea
Santiago — Yea
Mathis — Not Voting
Eduardo Garcia — Yea
Jim Patterson — Not Voting
Luz Rivas — Yea
Vince Fong — Yea
Wendy Carrillo — Yea
Addis, Dawn Democratic Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Alvarez, David Democratic Yea
Arambula, Joaquin Democratic Yea
Bains, Jasmeet Democratic Yea
Bauer-Kahan, Rebecca Democratic Not Voting
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Cervantes, Sabrina Democratic Yea
Connolly, Damon Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Not Voting
Haney, Matt Democratic Yea
Hart, Gregg Democratic Yea
Irwin, Jacqui Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Lee, Alex Democratic Yea
Lowenthal, Josh Democratic Yea
McKinnor, Tina Democratic Yea
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Yea
Ortega, Liz Democratic Yea
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Not Voting
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Soria, Esmeralda Democratic Yea
Valencia, Avelino Democratic Yea
Ward, Christopher M. Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wicks, Buffy Democratic Yea
Wilson, Lori D. Democratic Yea
Zbur, Rick Chavez Democratic Yea
Alanis, Juan Republican Yea
Chen, Phillip Republican Yea
Dahle, Megan Republican Not Voting
Davies, Laurie Republican Yea
Dixon, Diane Republican Yea
Essayli, Bill Republican Not Voting
Flora, Heath Republican Yea
Gallagher, James Republican Nay
Hoover, Josh Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea
Sanchez, Kate Republican Yea
Ta, Tri Republican Not Voting
Wallis, Greg Republican Yea

Official roll call →

Do pass.

Passed 8 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 7000
Republican 1001
Total 8001
% of votes cast 89%0%0%11%
How each member voted (9)
Member Party Vote
Grayson, Timothy S. Democratic Yea
Kalra, Ash Democratic Yea
Lee, Alex Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Ward, Christopher M. Democratic Yea
Wilson, Lori D. Democratic Yea
Patterson, Joe Republican Yea
Sanchez, Kate Republican Not Voting

Official roll call →

Do pass and be re-referred to the Committee on [Housing and Community Development]

Passed 9 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 7000
Republican 1000
Unaffiliated 1000
Total 9000
% of votes cast 100%0%0%0%
How each member voted (9)
Member Party Vote
Waldron — Yea
Carrillo, Juan Democratic Yea
Haney, Matt Democratic Yea
Kalra, Ash Democratic Yea
Pacheco, Blanca Democratic Yea
Ramos, James C. Democratic Yea
Ward, Christopher M. Democratic Yea
Wilson, Lori D. Democratic Yea
Alanis, Juan Republican Yea

Official roll call →

Subjects

finance housing labor
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Frequently asked questions

What does AB 2488 do?
Existing law authorizes the legislative body of a city or a county to establish an enhanced infrastructure financing district to finance public capital facilities or other specified projects of communitywide significance, including the acquisition, construction, or rehabilitation of housing for persons of very low, low, and moderate income. Existing law requires the legislative body to establish a public financing authority, defined as the governing board of the enhanced infrastructure financing district, at the same time the resolution to form an enhanced infrastructure district is adopted. Existing law requires the public financing authority to adopt an infrastructure financing plan that includes specified information, including a finding that the development and financial assistance are of communitywide significance and provide significant benefits to an area larger than the area of the district. This bill would authorize the City and County of San Francisco to designate one downtown revitalization and economic recovery financing district for the purpose of financing commercial-to-residential conversion projects with incremental tax revenues generated by commercial-to-residential conversion projects within the district. The bill would require the boundaries of the district to be limited to downtown San Francisco, as defined. The bill would establish a criteria for the composition of the district board. The bill would require the City and County of San Francisco to establish the board for the district at the same time that it adopts the resolution of intention. The bill would require the district to prepare a downtown revitalization financing plan that includes specified information and requirements. In this regard, the bill would require a downtown revitalization financing plan to include a requirement that incremental tax revenues be distributed back to the respective project for the purpose of financing the debt service of the project for 30 years or until the district ceases to exist. The bill would also require the downtown revitalization financing plan to identify each existing commercial building within the district that may opt in to receive incremental tax revenue from the district. The bill would require a district to establish a process for eligible commercial-to-residential conversion projects identified in the financing plan to opt into receiving incremental tax revenue generated by the respective project. The bill would prohibit an eligible commercial-to-residential conversion project from opting in to receive incremental tax revenue from the district after December 31, 2032. The bill would require the financing plan to include a requirement that any remaining incremental tax revenues be used for downtown revitalization programs. The bill would require the financing plan to provide a date upon which the district will cease to exist and tax increment distributions to the district will end. This bill would specify that the commercial-to-residential conversion projects that opt in to receive incremental tax revenue are public works for which prevailing wages shall be paid, as specified. The bill would require the commercial-to-residential conversion projects that opt in to receive incremental tax revenue to comply with labor standards adopted by the Board of Supervisors, as specified. The bill would prohibit commercial-to-residential conversion projects from receiving incremental tax revenue or net available revenue, as defined, if the Board of Supervisors does not adopt labor standards, as specified. This bill would make legislative findings and declarations as to the necessity of a special statute for the City and County of San Francisco.
Who sponsors AB 2488?
AB 2488 is sponsored by Ting.
What is the current status of AB 2488?
This bill has been enacted into law. Introduced February 13, 2024. Enacted.
Where can I track AB 2488?
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