CA AB 1270

Title: Redevelopment: successor agency: City of Lake Forest.
Author: Diane B. Dixon

Summary
AB 1270, Dixon. Redevelopment: successor agency: City of Lake Forest. Existing law dissolved redevelopment agencies and community development agencies as of February 1, 2012, and provides for the designation of successor agencies to, among other things, wind down the affairs of the dissolved redevelopment agencies and make payments due for enforceable obligations. In that regard, existing law requires the county auditor-controller to create within the county treasury a Redevelopment Property Tax Trust Fund (Fund) for the property tax revenues related to each former redevelopment agency for administration by the county auditor-controller.Existing law requires the Orange County Auditor Controller to allocate property tax revenues attributable to the El Toro Project Area between the Fund established for the former Orange County Development Agency and the Fund established for the former Lake Forest Redevelopment Agency, as provided, to implement a specified agreement that transferred territorial jurisdiction of the El Toro Project Area from the Orange County Redevelopment Agency to the Lake Forest Redevelopment Agency.This bill would require the Orange County Auditor Controller, upon receipt of the final resolution of dissolution for the successor agency to the former Orange County Development Agency, to allocate property tax revenues attributable to the El Toro Project Area to the Fund established for the former Lake Forest Redevelopment Agency. By revising the duties of local government officials, the bill would impose a state-mandated local program.Existing law generally requires a successor agency to submit a Recognized Obligation Payment Schedule to certain entities, including the Department of Finance, and requires the successor agency to make payments pursuant to that schedule. When all enforceable obligations have been retired or paid off, all real property has been disposed of, and all outstanding litigation has been resolved, existing law requires the successor agency to submit a request to formally dissolve to its oversight board, which is required to approve the request and submit it to the department for approval, as specified.Under this bill, the allocation of revenues into the Fund established for the former Lake Forest Redevelopment Agency pursuant to the transfer agreement and the listing of those payments by the successor agency to the Orange County Development Agency on its Recognized Obligation Payment Schedule would not preclude the approval of a request for dissolution of the successor agency to the Orange County Development Agency.This bill would make legislative findings and declarations as to the necessity of a special statute for the City of Lake Forest.The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.

Status
Chaptered by Secretary of State - Chapter 301, Statutes of 2023.

Bill Documents
CA AB 1270 - 10/04/23 - Chaptered
10/04/23 - CA AB 1270 (10/04/23 - Chaptered)