California 2015-2016 Regular Session Status: Passed Assembly

AB 974 — Redevelopment dissolution: housing projects: bond proceeds.

Last action — Ordered to inactive file at the request of Senator Allen.

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

This bill died with 2015-2016 Regular Session. It reached “Passed Assembly” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 the successor housing entity to designate the use of, and commit, proceeds from indebtedness that was issued for affordable housing purposes prior to January 1, 2011, and was backed by the Low and Moderate Income Housing Fund. This bill would instead authorize a successor housing entity to designate the use of, and commit, proceeds from indebtedness that was issued for affordable housing purposes prior to June 28, 2011, and would require the proceeds from bonds issued between January 1, 2011, and June 28, 2011, to be used only for projects meeting certain requirements established in this bill for projects, to be funded by successor agencies generally, from proceeds of bonds issued during the same period. 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 expand this authorization to include the expenditure of excess bond proceeds derived from bonds issued on or before June 28, 2011, and would require proceeds derived from bonds issued between January 1, 2011, and June 28, 2011, to be used by successor agencies only for projects meeting certain requirements. The bill would additionally require the refinance of bonds issued between January 1, 2011 and June 28, 2011, if proceeds derived from those bonds can be used for projects meeting specified criteria, as specified.

Bill Text

Action History

  1. Ordered to inactive file at the request of Senator Allen.

  2. Read second time. Ordered to third reading.

  3. From committee: Do pass. (Ayes 5. Noes 2.) (August 27).

  4. In committee: Referred to APPR. suspense file.

  5. From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 1.) (July 15). Re-referred to Com. on APPR.

  6. From committee: Do pass and re-refer to Com. on GOV. & F. (Ayes 8. Noes 2.) (July 7). Re-referred to Com. on GOV. & F.

  7. In committee: Hearing postponed by committee.

  8. Referred to Coms. on T. & H. and GOV. & F.

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

  10. Read third time. Passed. Ordered to the Senate. (Ayes 46. Noes 29. Page 1765.)

  11. Read second time. Ordered to third reading.

  12. From committee: Do pass. (Ayes 12. Noes 5.) (May 28).

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

  14. From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 2.) (April 29). Re-referred to Com. on APPR.

  15. From committee: Do pass and re-refer to Com. on H. & C.D. (Ayes 5. Noes 3.) (April 15). Re-referred to Com. on H. & C.D.

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

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

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

  19. From printer. May be heard in committee March 29.

  20. Read first time. To print.

Sponsors

  • Bloom · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on · 9 voted No

Sponsors (1)

  • Bloom

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

Do pass

Passed 5 Yea · 2 Nay
Party YeaNayPresentNot Voting
Unaffiliated 5200
Total 5200
% of votes cast 71%29%0%0%
How each member voted (7)
Member Party Vote
Hill — Yea
Lara — Yea
Bates — Nay
Beall — Yea
Leyva — Yea
Mendoza — Yea
Nielsen — Nay

Official roll call →

Placed on suspense file

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 7000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Hill — Yea
Lara — Yea
Leyva — Yea
Bates — Yea
Beall — Yea
Mendoza — Yea
Nielsen — Yea

Official roll call →

AB 974 BLOOM Assembly Third Reading

Passed 46 Yea · 29 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 432205
Democratic 3100
Republican 0600
Total 462905
% of votes cast 58%36%0%6%
How each member voted (80)
Member Party Vote
Achadjian — Nay
Alejo — Yea
Baker — Nay
Bloom — Yea
Brough — Nay
Brown — Yea
Linder — Nay
Low — Yea
Mathis — Nay
Obernolte — Nay
Olsen — Nay
Rendon — Yea
Rodriguez — Not Voting
Thurmond — Yea
Wagner — Nay
Williams — Yea
Eggman — Yea
Cooper — Yea
Dababneh — Yea
Daly — Yea
Campos — Yea
Salas — Yea
Bonilla — Yea
Jones-Sawyer — Yea
Lopez — Yea
Dodd — Yea
Medina — Yea
Mullin — Yea
Nazarian — Yea
O'Donnell — Yea
Perea — Yea
Gomez — Yea
Gordon — Not Voting
Harper — Nay
Atkins — Yea
Holden — Yea
Burke — Yea
Gray — Nay
Chang — Nay
Kim — Nay
Chau — Yea
Bigelow — Nay
Chiu — Yea
Chu — Yea
Chávez — Not Voting
Cooley — Yea
Levine — Yea
Maienschein — Nay
Mayes — Nay
McCarty — Yea
Melendez — Nay
Quirk — Yea
Ridley-Thomas — Yea
Santiago — Yea
Steinorth — Nay
Ting — Yea
Waldron — Nay
Weber — Yea
Wilk — Nay
Wood — Yea
Frazier — Not Voting
Gatto — Yea
Gonzalez — Not Voting
Hadley — Nay
Beth Gaines — Nay
Cristina Garcia — Yea
Eduardo Garcia — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Nay
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Nay
Dahle, Megan Republican Nay
Gallagher, James Republican Nay
Grove, Shannon Republican Nay
Jones, Brian W. Republican Nay
Lackey, Tom Republican Nay
Patterson, Joe Republican Nay

Official roll call →

Do pass.

Passed 12 Yea · 5 Nay
Party YeaNayPresentNot Voting
Unaffiliated 10300
Democratic 2000
Republican 0200
Total 12500
% of votes cast 71%29%0%0%
How each member voted (17)
Member Party Vote
Bigelow — Nay
Weber — Yea
Eggman — Yea
Gomez — Yea
Chang — Nay
Gordon — Yea
Daly — Yea
Holden — Yea
Quirk — Yea
Rendon — Yea
Wagner — Nay
Wood — Yea
Eduardo Garcia — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gallagher, James Republican Nay
Jones, Brian W. Republican Nay

Official roll call →

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 974 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 the successor housing entity to designate the use of, and commit, proceeds from indebtedness that was issued for affordable housing purposes prior to January 1, 2011, and was backed by the Low and Moderate Income Housing Fund. This bill would instead authorize a successor housing entity to designate the use of, and commit, proceeds from indebtedness that was issued for affordable housing purposes prior to June 28, 2011, and would require the proceeds from bonds issued between January 1, 2011, and June 28, 2011, to be used only for projects meeting certain requirements established in this bill for projects, to be funded by successor agencies generally, from proceeds of bonds issued during the same period. 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 expand this authorization to include the expenditure of excess bond proceeds derived from bonds issued on or before June 28, 2011, and would require proceeds derived from bonds issued between January 1, 2011, and June 28, 2011, to be used by successor agencies only for projects meeting certain requirements. The bill would additionally require the refinance of bonds issued between January 1, 2011 and June 28, 2011, if proceeds derived from those bonds can be used for projects meeting specified criteria, as specified.
Who sponsors AB 974?
AB 974 is sponsored by Bloom.
What is the current status of AB 974?
This bill died with 2015-2016 Regular Session. It reached “Passed Assembly” 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 974?
Track AB 974 free on One Click Politics — get push/email alerts when it moves.

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