CA SB293

Establishes special procedures for the City of Oakland to create infrastructure financing districts (IFDs) to finance public facilities including transit, housing, utilities, parks, and environmental improvements.

Requires the Oakland City Council to adopt a resolution of intention and prepare an infrastructure financing plan that must include provisions for dividing property tax revenues, with no allocation to local educational agencies.

Mandates three public hearings (30+ days apart) and a protest proceeding; the district can be established if fewer than 25% of landowners and residents protest, or if 25-50% protest and voters approve the plan.

Authorizes the district board (composed of city council members and representatives from consenting affected taxing entities) to issue tax-exempt or taxable bonds to finance qualified public facilities without voter approval for bond issuance.

Requires annual independent financial audits and annual reports to be provided to landowners, residents, and affected taxing entities detailing projects, revenues, expenses, and progress.