Redevelopment: housing successor: Low and Moderate Income Housing Asset Fund.
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AB 922 — Redevelopment: housing successor: Low and Moderate Income Housing Asset Fund.
Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Assembly
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4Passed Senate
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5To Executive
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6Enacted
This bill died with 2021-2022 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 duties required by any enforceable obligation. Existing law authorizes the city, county, or city and county that created a former redevelopment agency to elect to retain the housing assets and functions previously performed by the former redevelopment agency. Existing law requires the housing successor to maintain any funds transferred to it, together with any funds generated from housing assets in a separate Low and Moderate Income Housing Asset Fund to be used in accordance with applicable housing-related provisions of the Community Redevelopment Law, except as specified. Existing law requires the housing successor to expend funds received from the successor agency to meet its enforceable obligations, and for specified administrative and monitoring costs relating to ensuring the long-term affordability of units subject to affordability restrictions. The housing successor may then expend a specified amount per fiscal year for homeless prevention and rapid rehousing services, including specified types of services described in that provision, and must use all funds remaining thereafter for the development of affordable housing, as specified. If a housing successor has an excess surplus, the housing successor is required to encumber those funds, within 3 fiscal years, for the development of affordable housing, or to enter into an agreement to transfer the funds for transit priority projects, as specified. Existing law defines the term "excess surplus" for these purposes to mean an unencumbered amount in the housing successor's Low and Moderate Income Housing Asset Fund that exceeds the greater of $1,000,000 or the aggregate amount deposited into the fund during the housing successor's preceding 4 fiscal years, whichever is greater. This bill would expand the definition of "excess surplus" to also include, for an entity operating as a housing successor that owns and operates affordable housing that was transferred to the housing successor as a housing asset of the former redevelopment agency, an unencumbered amount in the housing successor's Low and Moderate Income Housing Asset Fund that exceeds the greater of $1,000,000 or the aggregate amount deposited into the account during the housing successor's preceding 8 fiscal years, whichever is greater.
Bill Text
- Amended 03/18/21 - Amended Assembly Current pdf March 18, 2021
- Introduced 02/17/21 - Introduced pdf February 17, 2021
- AB922 View text html
Action History
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From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
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Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
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Re-referred to Com. on H. & C.D.
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From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.
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Referred to Coms. on H. & C.D. and L. GOV.
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From printer. May be heard in committee March 20.
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Read first time. To print.
Sponsors
- Robert Garcia · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 121 not signed on · 2 voted No
Sponsors (1)
- Garcia, Robert Democratic
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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democratic | 5 | 0 | 0 | 0 |
| Republican | 0 | 2 | 0 | 0 |
| Unaffiliated | 0 | 0 | 0 | 1 |
| Total | 5 | 2 | 0 | 1 |
| % of votes cast | 63% | 25% | 0% | 13% |
How each member voted (8)
| Member | Party | Vote |
|---|---|---|
| Eduardo Garcia | — | Not Voting |
| Arambula, Joaquin | Democratic | Yea |
| Bonta, Mia | Democratic | Yea |
| Bryan, Isaac G. | Democratic | Yea |
| Calderon, Lisa | Democratic | Yea |
| Jackson, Corey A. | Democratic | Yea |
| Alanis, Juan | Republican | Nay |
| Sanchez, Kate | Republican | Nay |
Subjects
Frequently asked questions
- What does AB 922 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 duties required by any enforceable obligation. Existing law authorizes the city, county, or city and county that created a former redevelopment agency to elect to retain the housing assets and functions previously performed by the former redevelopment agency. Existing law requires the housing successor to maintain any funds transferred to it, together with any funds generated from housing assets in a separate Low and Moderate Income Housing Asset Fund to be used in accordance with applicable housing-related provisions of the Community Redevelopment Law, except as specified. Existing law requires the housing successor to expend funds received from the successor agency to meet its enforceable obligations, and for specified administrative and monitoring costs relating to ensuring the long-term affordability of units subject to affordability restrictions. The housing successor may then expend a specified amount per fiscal year for homeless prevention and rapid rehousing services, including specified types of services described in that provision, and must use all funds remaining thereafter for the development of affordable housing, as specified. If a housing successor has an excess surplus, the housing successor is required to encumber those funds, within 3 fiscal years, for the development of affordable housing, or to enter into an agreement to transfer the funds for transit priority projects, as specified. Existing law defines the term "excess surplus" for these purposes to mean an unencumbered amount in the housing successor's Low and Moderate Income Housing Asset Fund that exceeds the greater of $1,000,000 or the aggregate amount deposited into the fund during the housing successor's preceding 4 fiscal years, whichever is greater. This bill would expand the definition of "excess surplus" to also include, for an entity operating as a housing successor that owns and operates affordable housing that was transferred to the housing successor as a housing asset of the former redevelopment agency, an unencumbered amount in the housing successor's Low and Moderate Income Housing Asset Fund that exceeds the greater of $1,000,000 or the aggregate amount deposited into the account during the housing successor's preceding 8 fiscal years, whichever is greater.
- Who sponsors AB 922?
- AB 922 is sponsored by Garcia, Robert (Democratic).
- What is the current status of AB 922?
- This bill died with 2021-2022 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 922?
- Track AB 922 free on One Click Politics — get push/email alerts when it moves.
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