政府ernor Signs SB 780 (Cortese)
四季’s Bill Improving Economic Development Financing Tools
9月28日 政府ernor Newsom signed SB 780 (Cortese) into law. 四季 sponsored this bill based on input from 经济发展 practitioners on how to improve California’s 经济发展 financing tools. Since the elimination of redevelopment agencies in 2011, the Legislature enacted several tax increment financing tools to support infrastructure, 经济发展 and 经济适用房 in local communities. Improvements to two of these tools, Enhanced Infrastructure Finance District (EIFD) and Community Revitalization Investment Authority (CRIA), were needed to facilitate their use for infrastructure, 经济发展, 振兴, and 经济适用房 objectives. We are grateful to Senator Cortese for authoring this thoughtful, practitioner-informed legislation that streamlines EIFDs and CRIAs.
四季 Releases Update on Approved CA Budget that Impacts Economic Development
Late last week, the Legislature and 政府ernor reached an agreement on the 2020-21 state budget. This budget relies heavily on state reserves, deferrals of payments to K-12 education, minimizing state pension contributions, revenue claw backs from prior budget years, and expectations of up to $14 billion in additional federal funding. Additional budgetary adjustments are expected when state income tax receipts become available, and some identified cuts will be reduced if more federal assistance is provided.
Despite the state’s financial difficulties, the budget agreement includes significant assistance for local agencies, 经济适用房, and homelessness programs. Minor changes to state 经济发展 tools are also included.
四季 Releases Recommendations to Accelerate Recovery
Economic development is the creation of wealth through which community benefits are realized. It is about creating an environment where businesses that support the fabric of each community can thrive such that they create opportunity and increase local government revenues so our cities and counties can provide the services and quality of life their residents require.
的 coronavirus health crisis has caused massive disruption to California’s economy and threatens to plunge the state into an extended recession. It is time for policy makers to take aggressive action to limit the immediate economic damage while charting a path forward that addresses future challenges and takes advantage of new opportunities.
的 California Association for Local Economic Development (四季), with over 750 经济发展 practitioners and stakeholders in our membership, is one of the largest 经济发展 organizations in the country. We offer the following recommendations as a framework to re-energize local economies and hasten California’s economic recovery.
EIFD Requirement Removed for Voter Approval Before Issuing Bonds
周三, October 9, 2019 政府ernor Newsom signed Assembly Bill 116. Authored by Assemblymember Phil Ting, AB 116 removes the requirement for Enhanced Infrastructure Financing Districts (EIFDs) to receive voter approval prior to issuing bonds. 四季 championed this under SB 128 (Beall), and we were glad to see it picked up in this budget trailer bill.
A Win for Small Manufacturers (September)
On Friday, September 21, 2018, 政府ernor Brown signed Assembly Bill 1547. Authored by Assemblymember Sharon Quirk-Silva, AB 1547 eliminates the California Industrial Development Financing Advisory Commission (CIDFAC) and, 作为一个结果, removes a barriers for small-to-medium size manufacturers trying to access low cost financing.
EIFD’s Expanded to Cover Maintenance (September)
周三, 9月19日, 2018, 政府ernor Brown signed Senate Bill 1145, a sponsored bill with 四季. This bill aimed to protect local 经济发展 investments by allowing Enhanced Infrastructure Financing Districts (EIFDs) finance ongoing maintenance costs for public projects in their districts.
Keep Private Activity Bonds (January)
Tax-exempt private activity bonds (PABs) are fully preserved under the updated tax code, which includes 501(c)(3) bonds, exempt facility bonds, 学生贷款债券, 小发行债券, 和抵押债券. While the code fully preserves PABs, the new tax laws reduce the corporate income tax from 35 percent to 21 percent; a factor that may lower demand for PABs. 的 Tax Cuts and 工作 Act of 2017 that the House of Representatives introduced would have eliminated PABs. PABs are essential tools that are used to finance projects and businesses around California. As a result, 四季 and other partners wrote letters to key Congress members to preserve PABs. After multiple letters and calls, PABs were reinstated into the budget bill and preserved.
AB 1250年停止 (September)
四季 participated in an effort, under the leadership of CSAC and a large coalition of stakeholders, 对抗AB 1250, a de facto prohibition on contracted services. 的 measure would have hindered services provided to the most vulnerable Californians by non-profit organizations in our 58 counties. AB 1250 created onerous new burdens on contracting firms that are defined as “a corporation, 伙伴关系, non-profit organization, or sole proprietorship.” 的 significant hurdles imposed by AB 1250, including paying for an annual audit, would deter or prevent non-profit organizations from entering into contracts with counties and limit service options and availability. This page serves as a resource for CSAC and our partners working to stop AB 1250.
CDBG For Economic Development Is Preserved (June)
四季, 的 League of CA Cities, and partners opposed a trailer budget bill that tried to eliminate the 经济发展 set-aside for state non-entitlement CDBG funds. This is a huge win for non-entitlement communities and 经济发展!
政府ernor Signs Hertzberg Bill (SB 820) That Helps State Continue Pushing Redevelopment Of Blighted Properties (September)
政府. Jerry Brown signed legislation by Sen. Bob Hertzberg, D-Van Nuys, that extended the California Land Reuse & 振兴法案》, a vital legal tool enacted in 2004 that has helped propel the cleanup and development of vacant hazardous waste sites across the state.
SB 820 renews the California Land Reuse & 振兴法案》 (CLRRA), which is set to expire on Jan. 1, 2017, for another 10 years. 的 act encourages redevelopment of blighted properties by allowing purchasers of contaminated lots to negotiate a cleanup plan with the state in exchange for liability protection from damages associated with the original contamination that they had no role in.
四季 Supported AB 2605 That Makes It Easier On Economic Developers & Small Businesses (March)
Finding the right contact at the State for permit assistance is critical for California businesses and economic developers alike. AB 2605 seeks to resolve several out of date references to the Office of Permit Assistance which previously existed within the Technology, Trade and Commerce Agency.具体地说, this bill deletes completely and updates several sections in law, in reference to the Office of Permit Assistance, to reflect the duties of the Permit Assistance Unit within the 政府ernor’s Office of Business and Economic Development (GO-Biz) and the Department of Toxic Substances Control.