SB 961 (Allen) Enhanced infrastructure financing districts.
|Status:||Chaptered by Secretary of State. Chapter 559, Statutes of 2018|
Would enact the Second Neighborhood Infill Finance and Transit Improvements Act, which would similarly authorize a city, county, or city and county to adopt a resolution, at any time before or after the adoption of the infrastructure financing plan for an enhanced infrastructure financing district, to allocate tax revenues of that entity to the district, including revenues derived from local sales and use taxes imposed pursuant to the Bradley-Burns Uniform Local Sales and Use Tax Law or transactions and use taxes imposed in accordance with the Transactions and Use Tax Law, if the area to be financed is within one-half mile of a rail transit station or within 300 feet of a transit rich boulevard served by bus rapid transit or high-frequency bus service, as specified, and among other things, certain conditions relating to housing and the infrastructure financing plan are or will be met.
The bill would authorize bonds to be issued for the purposes of the Second Neighborhood Infill Finance and Transit Improvements Act without voter approval.
|More Info:||Legislative Website Info|
|Last Updated:||September 27, 2018|