California 2015-2016 Regular Session Status: In Committee

AB 1079 — Successor agencies: due diligence review: finding of completion.

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 2015-2016 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, among other things, wind down the affairs of the dissolved redevelopment agencies and to make payments for enforceable obligations, as defined. Existing law requires a successor agency to employ a licensed accountant to conduct a due diligence review to determine the unobligated balances of the former redevelopment agency that are available for transfer to taxing entities. Existing law requires the Department of Finance to issue a finding of completion to a successor agency that completes the due diligence review and meets other requirements. This bill would provide that the requirements of a due diligence review have been satisfied if specified conditions with respect to a transfer of assets are met, and would provide in that event, that the successor agency is entitled to a finding of completion by the department.

Bill Text

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1 added · 1 removed

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 Article IV, Sec. 10(c) of the Constitution.

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

  4. Read first time.

  5. From printer. May be heard in committee March 31.

  6. Introduced. To print.

Sponsors

  • Obernolte · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Obernolte

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 1079 do?
Existing law dissolved redevelopment agencies and community development agencies, as of February 1, 2012, and provides for the designation of successor agencies to, among other things, wind down the affairs of the dissolved redevelopment agencies and to make payments for enforceable obligations, as defined. Existing law requires a successor agency to employ a licensed accountant to conduct a due diligence review to determine the unobligated balances of the former redevelopment agency that are available for transfer to taxing entities. Existing law requires the Department of Finance to issue a finding of completion to a successor agency that completes the due diligence review and meets other requirements. This bill would provide that the requirements of a due diligence review have been satisfied if specified conditions with respect to a transfer of assets are met, and would provide in that event, that the successor agency is entitled to a finding of completion by the department.
Who sponsors AB 1079?
AB 1079 is sponsored by Obernolte.
What is the current status of AB 1079?
This bill died with 2015-2016 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 1079?
Track AB 1079 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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