CA SB1227

Exempts certain development projects in San Francisco's downtown revitalization zone from California Environmental Quality Act (CEQA) requirements until January 1, 2032, if they meet sustainability standards including LEED Platinum certification (for projects 1,000+ sq ft), below-average vehicle miles traveled, and compliance with specific San Francisco building and environmental codes.

Requires prevailing wage payments and skilled and trained workforce provisions for exempted projects over 40,000 gross square feet, with prime contractors and subcontractors providing affidavits under penalty of perjury regarding workforce compliance and monthly reporting to the lead agency.

Authorizes the Governor to certify additional downtown revitalization zone projects that are not CEQA-exempt for streamlined review with expedited court resolution (within 270 days) and applicant-funded record preparation, with certification voided if the lead agency adopts statements of overriding consideration; certification expires if project is not approved by January 1, 2031.

Provides property tax welfare exemption for rental housing in the downtown revitalization zone serving moderate-income households at rents at least 10% below fair market rent, with exemption equal to the percentage of units serving moderate-income households, available for claims filed within five years of the first building permit for lien dates on or after January 1, 2025.

Sunsets all provisions on January 1, 2032, except the property tax exemption which applies to lien dates occurring on or after January 1, 2025; declares no state reimbursement is required for lost property tax revenues.