SB 1030 Summary

• Modifies allocation of remaining property tax revenues in the Redevelopment Property Tax Trust Fund by removing a restriction that prevented increasing allocations of excess Educational Revenue Augmentation Fund (ERAF) moneys to cities, counties, and special districts.

• Requires county auditor-controllers to distribute Redevelopment Property Tax Trust Fund moneys proportionate to each taxing entity's share of property tax revenues after deducting passthrough payments and enforceable obligations.

• Ensures school entities receive their proportionate share of property taxes that would have been allocated to the dissolved redevelopment agency, including amounts specified under Revenue and Taxation Code sections 97.68 and 97.70.

• Appropriates $1,000 to the State Board of Education for administrative costs associated with the act.

• Takes effect immediately upon passage as a budget-related appropriations bill.