SB 593 — Redevelopment: successor agency debt: City and County of San Francisco.

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 make payments due for enforceable obligations. Existing law, among other powers granted to successor agencies generally, additionally vests the successor agency to the former Redevelopment Agency of the City and County of San Francisco with the authority, rights, and powers of that former redevelopment agency solely for the purpose of issuing bonds or incurring other indebtedness, subject to the approval of the oversight board of the successor agency, to finance the construction of affordable housing and infrastructure required by specified development agreements. Under existing law, these bonds and indebtedness are considered indebtedness incurred by the dissolved redevelopment agency secured by moneys deposited in the Redevelopment Property Tax Trust Fund established for that agency. This bill would expand this authority to include bonds issued and other indebtedness incurred to finance the development, construction, repair, renovation, or reconstruction of affordable housing units that are or remain affordable to, and occupied by, persons and families of low-, moderate-, extremely low, and very low income households for at least 55 years for rental units and 45 years for owner-occupied units, subject to specified conditions and authorizations. The bill would specify the security requirements for the bonds issued or other indebtedness incurred to finance the development, construction, repair, renovation, or reconstruction of affordable housing units. This bill would make legislative findings and declarations as to the necessity of a special statute for the City and County of San Francisco. This bill would incorporate additional changes to Section 34177.7 of the Health and Safety Code proposed by AB 143 and SB 143 to be operative only if this bill and either of those bills are enacted and this bill is enacted last.

Bill Text

• Chaptered 10/11/23 - Chaptered Current pdf October 11, 2023
• Enrolled 09/14/23 - Enrolled pdf September 14, 2023
• Amended 09/07/23 - Amended Assembly pdf September 07, 2023
• Amended 06/30/23 - Amended Assembly pdf June 30, 2023
• Amended 03/21/23 - Amended Senate pdf March 21, 2023
• Introduced 02/15/23 - Introduced pdf February 15, 2023
• SB593 View text html

Action History

1. October 11, 2023

   Chaptered by Secretary of State. Chapter 782, Statutes of 2023.

2. October 11, 2023

   Approved by the Governor.

3. September 20, 2023

   Enrolled and presented to the Governor at 4:30 p.m.

4. September 12, 2023

   Assembly amendments concurred in. (Ayes 34. Noes 0. Page 2678.) Ordered to engrossing and enrolling.

5. September 11, 2023

   (Corrected September 12).

6. September 11, 2023

   In Senate. Concurrence in Assembly amendments pending.

7. September 11, 2023

   Read third time. Passed. (Ayes 61. Noes 13. Page 3138.) Ordered to the Senate.

8. September 07, 2023

   Ordered to third reading.

9. September 07, 2023

   Read third time and amended.

10. September 07, 2023

    Assembly Rule 69 suspended.

11. July 03, 2023

    Read second time. Ordered to third reading.

12. June 30, 2023

    Read second time and amended. Ordered to second reading.

13. June 29, 2023

    From committee: Do pass as amended. (Ayes 6. Noes 0.) (June 28).

14. June 21, 2023

    From committee: Do pass and re-refer to Com. on H. & C.D. (Ayes 7. Noes 1.) (June 21). Re-referred to Com. on H. & C.D.

15. May 18, 2023

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

16. May 11, 2023

    In Assembly. Read first time. Held at Desk.

17. May 11, 2023

    Read third time. Passed. (Ayes 35. Noes 2. Page 1052.) Ordered to the Assembly.

18. May 04, 2023

    Read second time. Ordered to third reading.

19. May 03, 2023

    Ordered to second reading.

20. May 03, 2023

    Withdrawn from committee.

21. May 02, 2023

    From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 0. Page 981.) (May 2). Re-referred to Com. on APPR.

22. April 11, 2023

    Set for hearing May 2.

23. March 29, 2023

    From committee: Do pass and re-refer to Com. on HOUSING. (Ayes 7. Noes 0. Page 573.) (March 29). Re-referred to Com. on HOUSING.

24. March 21, 2023

    From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.

25. March 14, 2023

    Set for hearing March 29.

26. February 22, 2023

    Referred to Coms. on GOV. & F., HOUSING, and APPR.

27. February 16, 2023

    From printer. May be acted upon on or after March 18.

28. February 15, 2023

    Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

• Scott D. Wiener · Primary
• Matt Haney · Cosponsor

Votes

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