CA AB 930

Title: Local government: Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) districts.
Author: Laura Friedman

Summary
AB 930, as amended, Friedman. Local government: Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) districts. Existing law authorizes certain local agencies to form a community revitalization authority within a community revitalization and investment area, as defined, and authorizes an authority to, among other things, provide for low- and moderate-income housing and issue bonds, as provided. Existing law authorizes a community revitalization and investment plan to provide for the division of taxes within the plan area.This bill would authorize the legislative bodies of 2 or more cities or counties to jointly form a Reinvestment in Infrastructure for a Sustainable and Equitable California district (RISE district) in accordance with specified procedures. The bill would authorize a special district to join a RISE district, by resolution, as specified. The bill would require the Office of Planning and Research (OPR) to develop standards for the formation of RISE districts no later than November 30, 2025. The bill would provide for the establishment of a governing board of a RISE district with representatives of each participating local government.After the formation of a RISE district, the bill would require that district’s governing board to prepare, or cause to be prepared, and adopt a RISE development plan that includes an identification of any intended source of revenue for financing a project or projects within the boundaries of the district and an identification of any tools or authority needed to implement the RISE development plan, as provided. The bill would require the standards developed by OPR to require a RISE development plan to provide that at least 50% of the total funding received by the district be spent on infill supportive infrastructure, as specified, and to provide that at least 30% of the total funds received by the district be spent on residential units created within the district that are restricted to persons and families of low or moderate income, as specified. The bill would require all projects that receive funding from a RISE district to either be located within 1/2 mile of public transit or at least 75% of the site of the development to adjoin parcels that are developed with urban uses. The bill would require the RISE district to consider adoption of the RISE development plan at 3 public hearings that take place at least 30 days apart and to provide specified notice to land owners within the RISE district, as specified. The bill, after the RISE development plan is adopted, would require the governing board to submit the RISE development plan to OPR for review. The bill would require OPR to review the plan within 90 days and make a determination as to whether the plan complies with all applicable planning standards and other requirements under state law. The bill would deem the plan to be in effect as of the date that OPR approves the plan. The bill would require a RISE district to review the RISE development plan at least annually and make any amendments that are necessary and appropriate and would require the preparation of an annual independent financial audit. The bill would require a RISE district, every 15 years, at the public hearing held for adopting the annual report, to consider whether the property owners and residents within the plan area wish to propose amendments to the RISE development plan, as specified.This bill would authorize a RISE district to utilize various sources of revenue for district purposes, including the division of property tax revenues, local sales and use taxes, and transient occupancy taxes.This bill would also, upon appropriation by the Legislature, require the Governor’s Office of Business and Economic Development to establish the RISE Revolving Loan Fund. The bill would provide that the purpose of the fund is to provide RISE districts with initial startup funding for projects contained within the RISE district’s certified RISE develop

Status
From committee: Amend, and do pass as amended. (Ayes 12. Noes 3.) (January 18).

Bill Documents
CA AB 930 - 04/26/23 - Amended Assembly
04/26/23 - CA AB 930 (04/26/23 - Amended Assembly)