CA SB1389

Renames "Enhanced Infrastructure Financing Districts" to "Public Investment Authorities" and allows cities or counties individually, or two or more cities jointly, to establish these authorities to finance public facilities and infrastructure projects.

Removes restrictions on participation by school districts, community college districts, and county offices of education, allowing these entities to participate in and benefit from public investment authorities.

Expands financeble projects to include energy storage systems for renewable energy and public school or community college district facilities; requires at least 25% of allocated taxes be used for low- and moderate-income housing.

Requires skilled and trained workforce for all projects financed by the authority and treats all financed projects as public works subject to prevailing wage requirements.

Authorizes allocation of Educational Revenue Augmentation Fund (ERAF) shares to public investment authorities when state fiscal impact is determined to be neutral, and requires Department of Finance review and public reporting on all financed facilities and projects.