A legislative body of a city or county may designate one or more proposed enhanced infrastructure financing districts pursuant to this chapter. Proceedings for the establishment of a district shall be instituted by the adoption of a resolution of intention to establish the proposed district and shall do all of the following:
(a) State that an enhanced infrastructure financing district is proposed to be established under the terms of this chapter and describe the boundaries of the proposed district, which may be accomplished by reference to a map on file in the office of the clerk of the city or in the office of the recorder of the county, as applicable.
(b) State the type of public facilities and development proposed to be financed or assisted by the district in accordance with Section 53398.52.
(c) State the need for the district and the goals the district proposes to achieve.
(d) State that incremental property tax revenue from the city or county and some or all affected taxing entities within the district, if approved by resolution pursuant to Section 53398.68, may be used to finance these activities.
(e) (1) State that a city, county, or city and county may allocate tax revenues derived from local sales and use taxes imposed pursuant to the Bradley-Burns Uniform Local Sales and Use Tax Law (Part 1.5 (commencing with Section 7200) of Division 2 of the Revenue and Taxation Code) or transactions and use taxes imposed in accordance with the Transactions and Use Tax Law (Part 1.6 (commencing with Section 7251) of Division 2 of the Revenue and Taxation Code) to an enhanced infrastructure financing district pursuant to Section 53398.75.5, if applicable.
(2) The legislative body of the city or county that elects to make an allocation pursuant to paragraph (1) shall adopt an ordinance to establish the following:
(A) The procedure by which the city or county will calculate the revenues derived from sales and use taxes and transactions and use taxes to be allocated to the enhanced infrastructure financing district.
(B) The decision process by which the city or county will determine the amount that will be dedicated to the proposed district.
(f) Fix a time and place for a public hearing on the proposal.
(Amended by Stats. 2017, Ch. 562, Sec. 1. (AB 1568) Effective January 1, 2018.)
Last modified: October 25, 2018