California 2013-2014 Regular Session Status: In Committee

AB 981 — Redevelopment dissolution.

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 2013-2014 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

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 the dissolved redevelopment agencies and to, among other things, make payments due for enforceable obligations and to perform obligations required pursuant to any enforceable obligation. Existing law provides for the transfer of housing assets and functions previously performed by the dissolved redevelopment agency to one of several specified public entities. Existing law authorizes that entity to designate the use of, and commit, indebtedness obligation proceeds that were issued for affordable housing purposes prior to January 1, 2011, and were backed by the Low and Moderate Income Housing Fund. This bill would instead authorize that entity to designate the use of, and commit, indebtedness obligation proceeds that were issued prior to June 28, 2011. Existing law authorizes the Department of Finance to issue a finding of completion to a successor agency that completes a due diligence review and meets other requirements. Upon receiving a finding of completion, a successor agency is authorized to expend excess bond proceeds derived from bonds issued on or before December 31, 2010, in a manner consistent with the original bond covenants. The bill would modify this authorization to include the expenditure of excess bond proceeds derived from bonds issued on or before June 28, 2011.

Bill Text

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1 line(s) added, 1 removed.

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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. Held under submission.

  4. In committee: Set, first hearing. Referred to APPR. suspense file.

  5. From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (May 1). Re-referred to Com. on APPR.

  6. From committee: Do pass and re-refer to Com. on H. & C.D. (Ayes 9. Noes 0.) (April 24). Re-referred to Com. on H. & C.D.

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

  8. Read first time.

  9. From printer. May be heard in committee March 26.

  10. Introduced. To print.

Sponsors

  • Bloom · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Bloom

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

Votes

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 981 do?
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 the dissolved redevelopment agencies and to, among other things, make payments due for enforceable obligations and to perform obligations required pursuant to any enforceable obligation. Existing law provides for the transfer of housing assets and functions previously performed by the dissolved redevelopment agency to one of several specified public entities. Existing law authorizes that entity to designate the use of, and commit, indebtedness obligation proceeds that were issued for affordable housing purposes prior to January 1, 2011, and were backed by the Low and Moderate Income Housing Fund. This bill would instead authorize that entity to designate the use of, and commit, indebtedness obligation proceeds that were issued prior to June 28, 2011. Existing law authorizes the Department of Finance to issue a finding of completion to a successor agency that completes a due diligence review and meets other requirements. Upon receiving a finding of completion, a successor agency is authorized to expend excess bond proceeds derived from bonds issued on or before December 31, 2010, in a manner consistent with the original bond covenants. The bill would modify this authorization to include the expenditure of excess bond proceeds derived from bonds issued on or before June 28, 2011.
Who sponsors AB 981?
AB 981 is sponsored by Bloom.
What is the current status of AB 981?
This bill died with 2013-2014 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 981?
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