AB 417
Local finance: enhanced infrastructure financing districts: community revitalization and investment authorities.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies how local governments can finance infrastructure projects through enhanced infrastructure financing districts. Instead of the current process, it allows districts to be created to fund capital projects, like building or repairing commercial structures for small businesses, to aid in community economic recovery. The bill also streamlines the approval process for amendments to the financing plan and requires more frequent reporting from the financing authority. It also adjusts the requirements for community revitalization and investment areas, reducing the percentage of land needing specific conditions.
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