CA AB116

Remove voter approval requirement for public financing authority to issue bonds for enhanced infrastructure financing districts; bonds may now be issued by majority vote of the authority.

Require public financing authority to hold three public hearings at least 30 days apart to consider adoption of enhanced infrastructure financing plans, with specific procedures at each hearing including consideration of protests.

Repeal previous sections requiring voter ballot proposals and elections for bond issuance (Sections 53398.67, 53398.78, 53398.79, 53398.80, 53398.81, and 53398.82).

Require resolution to issue bonds to include specified information regarding facilities, costs, interest rates, tax revenue availability, bond terms, and maturity dates.

Renumber and amend Section 53398.80.5 as new Section 53398.78, requiring preliminary approval from harbor agencies and State Lands Commission for port or harbor infrastructure bonds before issuance.