CA AB3009

Changes the formula for calculating successor agency administrative cost allowances starting January 1, 2021, basing it on property tax amounts authorized by the Department of Finance for approved enforceable obligations in the preceding year, rather than actual property tax distributed by the county auditor-controller.

Establishes a minimum administrative cost allowance of $250,000 per fiscal year unless reduced by the oversight board or by agreement between the successor agency and the Department of Finance.

Maintains the cap that successor agency annual administrative costs cannot exceed 50% of the total Redevelopment Property Tax Trust Fund authorized by the Department of Finance to pay enforceable obligations in the preceding fiscal year.

Clarifies that "actual property tax authorized" and "total Redevelopment Property Tax Trust Fund authorized" refer to amounts approved prior to any reductions, not the amounts ultimately approved for distribution.

Limits the applicability of the previous administrative cost allowance formula to the period from July 1, 2016, through December 31, 2020.