CA AB113

Redefines administrative cost allowance for successor agencies managing dissolved redevelopment agencies, capping it at 3% of actual property tax distributed (effective July 1, 2016) and limiting total administrative costs to 50% of distributed Redevelopment Property Tax Trust Fund.

Authorizes successor agencies to issue bonds or incur indebtedness to finance affordable housing and infrastructure required by enforceable obligations, with special provisions for San Francisco's successor agency to address its affordable housing crisis.

Establishes "Last and Final Recognized Obligation Payment Schedule" process allowing successor agencies to submit comprehensive payment schedules for remaining enforceable obligations, with department approval establishing maximum property tax trust fund distributions.

Modifies oversight board structure and consolidation requirements, requiring single countywide oversight boards in counties with multiple boards (effective July 1, 2017) and five regional boards in counties with over 40 boards.

Provides property tax allocation adjustments for Santa Clara County qualifying cities and San Benito County, and appropriates $23.75 million to Department of Forestry and Fire Protection contingent on Riverside County forgiving debts owed by newly incorporated cities.