CA AB782

Prohibits the Real Estate Commissioner from requiring a developer to furnish security (such as bonds) for improvements when issuing a public report for a residential subdivision if security has already been provided to a local agency for the same improvement under the Subdivision Map Act

Requires the Commissioner to determine that the existing security furnished to the local agency is sufficient to protect the interests of purchasers, owners, and lessees before waiving the additional security requirement

Aims to eliminate duplicative security requirements for residential developments where developers must currently provide similar financial assurances to both state and local agencies for the same improvements

Applies specifically to offsite improvements, community facilities, recreational facilities, and other improvements that are part of a residential subdivision offering