CA AB2578

Expands infrastructure financing district authority for San Francisco to include new "shoreline protection districts" designed to finance seawall repairs, seismic retrofits, and flood protection infrastructure along the waterfront, effective January 1, 2019.

Adds eligible project types for waterfront districts including bay fill removal and installation, emergency response facilities, auxiliary water supply systems, creek daylighting, habitat enhancements, and improvements to protect against sea level rise and flooding.

Allows waterfront districts to accumulate tax increment revenues without the standard 5-year limit and permits revenues to be pledged for debt issued by the San Francisco Port Commission.

Repeals Section 53395.81 concerning special waterfront districts related to America's Cup venues, eliminating prior restrictions on ERAF share allocations to specific port facilities.

Modifies property tax revenue allocation procedures to include ad valorem property tax revenue allocated to San Francisco under Revenue and Taxation Code Section 97.70 that corresponds to assessed valuation increases within waterfront district boundaries.