2024 – Assembly Bill 930 (Friedman, Laura) Local Government: Infrastructure Financing Districts: Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) Districts: Housing Development: Restrictive Covenants (Dead)
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Would have authorized two or more specified local governments to jointly form a Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) district to use tax increment financing and other revenue options to finance infill supportive infrastructure and affordable housing, among other things, near major transit stops, as specified. The bill would also have required the Governor’s Office of Planning and Research to develop guidelines for the formation of RISE districts, and require the Infrastructure and Economic development Bank to establish a RISE District Revolving Loan Program, upon appropriation by the Legislature, to provide RISE districts with initial startup funding for eligible projects, as specified. Held on suspense in the Senate Appropriations Committee.