Enhanced infrastructure financing districts: California Capital City Downtown Revitalization Act.

Plain English Breakdown

The official source material does not provide details on the impact on residents and businesses in downtown Sacramento.

California Capital City Downtown Revitalization Act

This act allows the city or county of Sacramento to establish an enhanced infrastructure financing district in downtown Sacramento and permits taxing entities within Sacramento County to join this district.

What This Bill Does

• Allows the city or county of Sacramento to set up an enhanced infrastructure financing district in downtown Sacramento.
• Permits taxing entities located entirely, or partially, in Sacramento County to opt into the district.
• Specifies that the California Capital City Downtown Revitalization District may accept state funds if voter approval and a plan are approved.

Who It Names or Affects

• The city or county of Sacramento
• Taxing entities in Sacramento County

Terms To Know

enhanced infrastructure financing district

A special area where money can be raised to pay for important public projects.

voter approval

When people who live in an area vote on a decision or plan.

Limits and Unknowns

• The bill does not specify how much state funding will be available.
• It is unclear what specific projects the district will fund initially.

Official Summary Text

SB 516, Ashby.
Enhanced infrastructure financing districts: California Capital City Downtown Revitalization Act.
Existing law authorizes the legislative body of a city or a county, defined to include a city and county, to establish an enhanced infrastructure financing district to finance public capital facilities or other specified projects of communitywide significance, as provided. Existing law provides for the preparation of a proposed infrastructure financing plan, as provided, which takes effect upon adoption by the public financing authority of the district following a specified public hearing and protest procedure. Existing law authorizes the infrastructure financing plan to provide for the division of taxes levied on taxable property in the area included within the district, as specified, and authorizes the public financing authority to issue bonds by adopting a resolution containing specified provisions, including a determination of the amount of tax revenue available or estimated to be
available for the payment of the principal of, and interest on, the bonds.
This bill would establish the California Capital City Downtown Revitalization Act, and would authorize the City or County of Sacramento to create an enhanced infrastructure financing district within the downtown Sacramento geographic area. The bill would authorize an affected taxing entity located entirely, or in part, in the County of Sacramento to opt in to the district.
Existing law specifies that an enhanced infrastructure financing district is not prohibited from utilizing revenues from additional sources to support its activities if the district obtains voter approval, as applicable, and the infrastructure financing plan is approved.
This bill would additionally specify that a district is not prohibited from utilizing state funds to support its activities if the district obtains voter approval, as
applicable, and the infrastructure financing plan is approved. The bill would also specify that the California Capital City Downtown Revitalization District may accept state funds, as provided.
This bill would make legislative findings and declarations as to the necessity of a special statute for the downtown Sacramento geographic area.
This bill would incorporate additional changes to Section 53398.75 of the Government Code proposed by SB 5 to be operative only if this bill and SB 5 are enacted and this bill is enacted last.

Current Bill Text

Download Bill PDF