AB 417: Local finance: enhanced infrastructure financing districts: community revitalization and investment authorities.

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

(1)Existing law authorizes the legislative body of a city or a county to designate a proposed enhanced infrastructure financing district to finance public capital facilities or other specified projects, including acquisition, construction, or repair of commercial structures by the small business occupant of such structures, if such acquisition, construction, or repair is for purposes of fostering economic recovery from the COVID-19 pandemic, as specified, with a governing body referred to as the public financing authority, by adopting a resolution of intention to establish the proposed district.

This bill would revise these provisions to instead authorize the designation of a proposed enhanced infrastructure financing district to finance capital facilities or other specified projects for the acquisition, construction, or repair of commercial structures by the small business occupant of such structures, as described above, if such acquisition, construction, or repair is for purposes of fostering economic recovery of a community, as specified.

Existing law requires the public financing authority of an enhanced infrastructure financing district to hold a meeting and 3 public hearings on a proposed infrastructure financing plan, as provided. Existing law requires the public financing authority to review the enhanced infrastructure financing plan at least annually and to make any amendments, as specified. Existing law authorizes amendments to an approved infrastructure financing plan, as described, subject to approval by a majority vote of the governing board at a public hearing held following the provision of a 30 day mailed notice, as described. Existing law requires amendments that propose the increase of the limit of the total number of dollars in local taxes allocation to the plan to be adopted in accordance with all notices and hearing requirements for the affected landowners and residents within the proposed additional territory applicable to an initial proposed enhanced infrastructure financing plan.

This bill would instead authorize the amendments, as specified, or the addition of a participating taxing entity and its representatives as members of a public financing authority after the date of district formation, to be approved by a majority vote of the public financing authority at a public hearing held following the provision of a 30-day mailed notice, as described above. The bill would instead require amendments that propose the increase of the limit of the total number of dollars in local taxes allocation to the plan, except where the increase is the result of an affected taxing entity agreeing to participate in the existing district and the plan is amended, as specified, to be adopted in accordance with all notices and hearing requirements, as described above.

Existing law requires a public financing authority to adopt an annual report on or before June 30 of each year after holding a public hearing.

This bill would instead require a public financing authority to adopt an annual report within 7 months of the close of each fiscal year after holding a public hearing.

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. October 3, 2025Chaptered by Secretary of State - Chapter 260, Statutes of 2025.
2. October 3, 2025Approved by the Governor.
3. September 9, 2025Enrolled and presented to the Governor at 3 p.m.
4. September 3, 2025In Assembly. Ordered to Engrossing and Enrolling.
5. September 3, 2025Read third time. Passed. Ordered to the Assembly. (Ayes 31. Noes 5. Page 2456.).
6. June 19, 2025Read second time. Ordered to third reading.
7. June 18, 2025From committee: Do pass. (Ayes 5. Noes 0.) (June 18).
8. May 7, 2025Referred to Com. on L. GOV.
9. April 2, 2025In Senate. Read first time. To Com. on RLS. for assignment.
10. April 1, 2025Read third time. Passed. Ordered to the Senate. (Ayes 62. Noes 0. Page 960.)
11. March 28, 2025Read second time. Ordered to third reading.
12. March 27, 2025Read second time and amended. Ordered returned to second reading.