CA AB243

Establishes infrastructure and revitalization financing districts (IRFDs) that can finance public facilities including infrastructure, affordable housing, environmental remediation, and commercial development with approval by 55% voter threshold (compared to 67% for traditional districts).

Districts can operate for up to 40 years and issue debt with final maturity of up to 30 years, and may finance projects in redevelopment project areas and former military bases once successor agencies receive completion findings.

Allows cities to dedicate net available revenue from the Redevelopment Property Tax Trust Fund to districts and eliminates voter approval requirement for districts on publicly-owned former military bases.

Requires districts constructing housing to set aside 20% of units for low- and moderate-income residents at affordable rates, and mandates replacement housing and relocation assistance if existing dwelling units are removed.

Amends Health and Safety Code to authorize infrastructure and revitalization financing districts to implement hazardous cleanup under the Polanco Redevelopment Act and requires districts to post annual reports on expenditures, progress toward goals, and project completion status.