CA SB530

Expands applicability of redevelopment agency payment requirements to include redevelopment plans adopted before January 1, 1994 that were amended after that date to increase dollar allocations, extend loan/indebtedness time limits, or lengthen plan effectiveness periods.

Requires redevelopment agencies to submit detailed reports by October 1, 2008 and October 1, 2009 to county auditors and taxing entities documenting project areas, gross tax increments, passthrough payments made and owed, and outstanding payment obligations for fiscal years 2003-04 through 2008-09.

Establishes county auditor review process with 45-day deadline to issue findings of concurrence or request clarifications; allows agencies to dispute passthrough requirements and resubmit amended reports.

Imposes restrictions on agencies with outstanding passthrough payment obligations to educational agencies, including prohibition on new project areas, new debt issuance, and limiting operating expenses to 75 percent of prior year amounts, plus 150 percent interest on late educational payments.

Requires agencies to deposit specified percentages of outstanding educational payments into county Educational Revenue Augmentation Funds (43.3 percent for school districts, 47.5 percent for community college districts, 19 percent for county offices of education).