AB 2144 Summary

• Establishes infrastructure and revitalization financing districts that may finance public facilities with 55% voter approval (instead of the 2/3 requirement for traditional infrastructure financing districts)

• Allows districts to operate for up to 40 years and issue debt with final maturity dates up to 30 years, enabling financing of projects in redevelopment areas, former redevelopment areas, and former military bases

• Authorizes districts to finance diverse projects including water treatment, flood management, parks, brownfield remediation, housing, commercial property, and hazardous cleanup under the Polanco Redevelopment Act

• Permits cities to dedicate net available revenue from the Redevelopment Property Tax Trust Fund to districts and exempts former military base projects on publicly owned land from voter approval requirements

• Requires districts to set aside 20% of newly constructed housing units for low- and moderate-income residents and establish replacement housing and relocation assistance when existing housing is removed