Community redevelopment: Supplemental Educational Revenue Augmentation Fund.
It became law on Nov 12, 2009.
- Stage
- Became law
- Started in
- Senate
- Sponsor
- Committee on Budget and Fiscal Review
- Latest action
- Nov 12, 2009
What it does
(1) The Community Redevelopment Law authorizes the establishment of redevelopment agencies in communities to address the effects of blight, as defined, in blighted areas in those communities known as project areas. Specific provisions of the California Constitution authorize a redevelopment agency to receive funding through tax increments attributable to increases in assessed property tax valuation of property in a project area due to redevelopment. Not less than 20% of tax increments generated from a project area are required to be used by a redevelopment agency to increase and improve the community's supply of low- and moderate-income housing. Redevelopment agencies are required in the…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- Committee on Budget and Fiscal Review
In the news
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Where it goes next
It is law in California. What happens now is up to the agency that carries it out, the courts, and the place itself.