Enhanced infrastructure financing district: climate resilience districts.

Existing law authorizes a city, county, city and county, special district, or a combination of any of those entities to form a climate resilience district, as described, for the purposes of raising and allocating funding for eligible projects and the operating expenses of eligible projects. Existing law deems each district to be an enhanced infrastructure financing district and requires each district to comply with existing law concerning enhanced infrastructure financing districts, except as specified. Existing law requires a district to finance only specified projects that meet the definition of an eligible project, including projects that address sea level rise, extreme heat, extreme cold, the risk of wildfire, drought, and the risk of flooding, as specified.

This bill would authorize a city or county to adopt a resolution providing for the division of taxes of any participating entity without following specified procedures for the preparation and adoption of an infrastructure financing plan, if certain conditions are met. The bill would require the city or county entity proposing formation of the district to hold a public meeting to consider the resolution of intention to establish the district and the governing board of the district to hold a public meeting to consider the adoption of the infrastructure financing plan. The bill would require the city and county entity and the governing board of the district to post specified notices prior to the respective meetings, as specified. The bill would require the resolution to include specified information, including that incremental property tax revenue from the city or county and all affected taxing entities within the district may be used to finance the district's activities. The bill would require the infrastructure financing plan to be made available for public inspection at least 30 days before the governing board of the district's meeting, and would require the designated official of the district to consult with each affected taxing entity prior to development of the infrastructure financing plan.

The bill would require public members appointed to the governing board of a district established pursuant to these provisions, as specified, to be residents of, own property in, or represent a business within the boundaries of the district and to serve terms of not fewer than 4 years, subject to specified term limits. The bill would limit the use of the district's revenue to repairing or replacing buildings, low- and moderate-income housing, facilities, structures, or other improvements within the district that have been damaged or destroyed by a disaster, as defined, mitigating the risk of a future disaster, or supporting economic recovery from a disaster, as specified. The bill would define disaster for these purposes to mean a disaster for which the Governor has declared a state of emergency, as specified.

This bill would declare that it is to take effect immediately as an urgency statute.