California 2011-2012 Regular Session Status: In Committee

AB 1234 — Redevelopment agencies: financing.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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

This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

(1) The Community Redevelopment Law authorizes the establishment of redevelopment agencies in communities to address the effects of blight, as defined, and to utilize various types of financing for that purpose. This bill would prohibit redevelopment agencies from using specified revenue for the promotion, recruitment, or retention of any professional sports team, or any related activity, as defined or for the development, planning, design, site acquisition, subdivision, financing, leasing, construction, operation, or maintenance of infrastructure, as defined, related to the occupancy, recruitment, or retention of any professional sports team. (2) The law authorizes redevelopment agencies to pay the principal of, and interest on, indebtedness incurred to finance or refinance redevelopment, from a portion of property tax revenues diverted from other taxing agencies. The portion of taxes diverted is the amount attributable to increases in assessed valuation of property in the redevelopment project area subsequent to establishment thereof. This method of financing is commonly known as "tax increment" financing and is specifically authorized by Section 16 of Article XVI of the California Constitution. The law also authorizes a redevelopment agency, in any redevelopment plan or in the proceedings for the advance of moneys or the making of loans or the incurring of any indebtedness, to finance or refinance, in whole or in part, a redevelopment project to irrevocably pledge its tax increment revenues for the payment of the principal of, and interest on, these loans, advances, or other indebtedness. This bill would make technical, nonsubstantive changes in those provisions that authorize a redevelopment agency to pledge its tax increment revenues for the payment on loans, advances, or other indebtedness.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Set, second hearing. Hearing canceled at the request of author.

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

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

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

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

  8. From printer. May be heard in committee March 22.

  9. Read first time. To print.

Sponsors

  • Norby · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Norby

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"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

Subjects

taxation housing
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Frequently asked questions

What does AB 1234 do?
(1) The Community Redevelopment Law authorizes the establishment of redevelopment agencies in communities to address the effects of blight, as defined, and to utilize various types of financing for that purpose. This bill would prohibit redevelopment agencies from using specified revenue for the promotion, recruitment, or retention of any professional sports team, or any related activity, as defined or for the development, planning, design, site acquisition, subdivision, financing, leasing, construction, operation, or maintenance of infrastructure, as defined, related to the occupancy, recruitment, or retention of any professional sports team. (2) The law authorizes redevelopment agencies to pay the principal of, and interest on, indebtedness incurred to finance or refinance redevelopment, from a portion of property tax revenues diverted from other taxing agencies. The portion of taxes diverted is the amount attributable to increases in assessed valuation of property in the redevelopment project area subsequent to establishment thereof. This method of financing is commonly known as "tax increment" financing and is specifically authorized by Section 16 of Article XVI of the California Constitution. The law also authorizes a redevelopment agency, in any redevelopment plan or in the proceedings for the advance of moneys or the making of loans or the incurring of any indebtedness, to finance or refinance, in whole or in part, a redevelopment project to irrevocably pledge its tax increment revenues for the payment of the principal of, and interest on, these loans, advances, or other indebtedness. This bill would make technical, nonsubstantive changes in those provisions that authorize a redevelopment agency to pledge its tax increment revenues for the payment on loans, advances, or other indebtedness.
Who sponsors AB 1234?
AB 1234 is sponsored by Norby.
What is the current status of AB 1234?
This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 1234?
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