Bill Text: CA AB1487 | 2019-2020 | Regular Session | Amended
Bill Title: San Francisco Bay area: housing development: financing.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Passed) 2019-10-08 - Chaptered by Secretary of State - Chapter 598, Statutes of 2019. [AB1487 Detail]
Download: California-2019-AB1487-Amended.html
Amended
IN
Assembly
May 16, 2019 |
Amended
IN
Assembly
April 29, 2019 |
Amended
IN
Assembly
April 04, 2019 |
Amended
IN
Assembly
March 26, 2019 |
Assembly Bill | No. 1487 |
Introduced by Assembly Member Chiu (Coauthors: Assembly Members Mullin and Wicks) (Coauthor: Senator Wiener) |
February 22, 2019 |
LEGISLATIVE COUNSEL'S DIGEST
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: YESBill Text
The people of the State of California do enact as follows:
SECTION 1.
Title 6.8 (commencing with Section 64500) is added to the Government Code, to read:TITLE 6.8. San Francisco Bay Area Regional Housing Finance
PART 1. Formation of the Housing Alliance for the Bay Area and General Powers
CHAPTER 1. General Provisions
64500.
This title shall be known, and may be cited, as the San Francisco Bay Area Regional Housing Finance Act.64501.
The Legislature finds and declares the following:64502.
For purposes of this title:64503.
The Legislature finds and declares that providing a regional financing mechanism for affordable housing development and preservation in the San Francisco Bay area, as described in this section and Section 64501, is a matter of statewide concern and is not a municipal affair as that term is used in Section 5 of Article XI of the California Constitution. Therefore, this title applies to all cities within the San Francisco Bay area, including charter cities.CHAPTER 2. The Housing Alliance for the Bay Area and Governing Board
64510.
(a) The Housing Alliance for the Bay Area is hereby established with jurisdiction extending throughout the San Francisco Bay area.64511.
(a) (1) The entity shall be governed by a(2)
(3)
64512.
A member shall exercise independent judgment on behalf of the interests of the residents, the property owners, and the public as a whole in furthering the intent and purposes of this title.64513.
(a) The time and place of the first meeting of the board shall be at a time and place within the San Francisco Bay area fixed by the chair of the board.64514.
(a) The board may make and enforce rules and regulations necessary for the government of the board, the preservation of order, and the transaction of business.CHAPTER 3. Powers of the Housing Alliance for the Bay Area
64520.
In implementing this title, the entity may do all of the following:64521.
(a) If the entity proposes a measure pursuant to64522.
The entity shall not do either of the following:CHAPTER 4. Financial Provisions
64530.
The board shall provide for regular audits of the entity’s accounts and records and shall maintain accounting records and shall report accounting transactions in accordance with generally accepted accounting principles adopted by the Governmental Accounting Standards Board of the Financial Accounting Foundation for both public reporting purposes and for reporting of activities to the Controller.64531.
The board shall provide for annual financial reports. The board shall make copies of the annual financial reports available to the public.PART 2. Financing Activities of the Housing Alliance for the Bay Area
CHAPTER 1. General Provisions
64600.
The entity may do all of the following:(A)A parcel tax.
(B)A commercial linkage fee that is either of the following:
(i)A variable rate fee assessed on new construction, providing a credit for a project in a local jurisdiction with an existing linkage fee program.
(ii)A
flat rate fee assessed on new construction.
(C)A gross receipts tax with variable rates according to business sector with an exemption for small businesses.
(D)A business tax based upon the number of employees assessed at a variable rate with an exemption for small businesses.
(E)One-half of one cent ($0.005) increase in sales tax.
(F)A general obligation bond to be funded by an ad valorem tax on the assessed value of local properties.
(G)A revenue bond.
(2)
64601.
The Metropolitan Transportation Commission may propose a measure pursuant to Part 2 (commencing with Section 64600) that will generate revenues and that requires voter approval pursuant to the California Constitution at the November 3, 2020, statewide general election, provided that the following conditions are met:CHAPTER 2. Revenue
Article 1. Special Taxes
64610.
(a) Subject to Section 4 of Article XIII A of the California Constitution, the entity may impose, by ordinance or resolution, a parcel tax within the San Francisco Bay area pursuant to the procedures established in Article 3.5 (commencing with Section 50075) of Chapter 1 of Part 1 of Division 1 of Title 5, Section 64521, and any other applicable procedures provided by law.64611.
(a) (1) The entity may impose, by ordinance or resolution, a special tax, measured by gross receipts, for the privilege of engaging in any kind of lawful business transacted in the San Francisco Bay area pursuant to the procedures established in Article 3.5 (commencing with Section 50075) of Chapter 1 of Part 1 of Division 1 of Title 5, Section 64521, and any other applicable procedures provided by law.64612.
(a) (1) The entity may impose, by ordinance or resolution, a special tax measured by the number of employees employed by the taxpayer for the privilege of engaging in any kind of lawful business activity transacted in the San Francisco Bay area pursuant to the procedures established in Article 3.5 (commencing with Section 50075) of Chapter 1 of Part 1 of Division 1 of Title 5, Section 64521, and any other applicable procedures provided by law.64613.
The entity may impose, by ordinance or resolution, a transactions and use tax at a rate of no more than 0.5 percent that would, in combination with all 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), exceed the limit established in Section 7251.1 of the Revenue and Taxation Code, if all of the following requirements are met:64614.
An action to determine the validity of any special taxes levied pursuant to this article may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.Article 2. Commercial Linkage Fee
64620.
As used in this article:64621.
(a) (1) The board may establish, increase, or impose a commercial linkage fee within the San Francisco Bay area by enactment of an ordinance or resolution, in accordance with the requirements of this article, that is in addition to any fee, as defined in Section 66000, that is levied by an underlying land use jurisdiction.64622.
(a) A commercial linkage fee established, increased, or imposed pursuant to this article shall not exceed the reasonable cost of providing the housing necessitated by the commercial development project for which the commercial linkage fee is imposed, as determined in the regional nexus study pursuant to subdivision (b) of Section 64621.64623.
(a) Before adopting an ordinance or resolution establishing or imposing a new commercial linkage fee or approving an increase in an existing commercial linkage fee pursuant to this article, the board shall hold a public hearing, at which oral or written presentations can be made, as part of a regularly scheduled meeting. Notice of the time and place of the meeting, including a general explanation of the matter to be considered, shall be published in accordance with Section 6062a.64624.
(a) Except as otherwise provided in subdivision (c), if the board adopts an ordinance, resolution, or other legislative enactment establishing or imposing a new commercial linkage fee or approving an increase in an existing commercial linkage fee, each underlying land use jurisdiction shall, as a condition of approving a commercial development project for which it receives an application for a conditional use permit or other discretionary or ministerial approval, require an applicant to pay the amount of commercial linkage fee established, imposed, or increased by the entity pursuant to this article. The underlying land use jurisdiction shall provide notice to the applicant that does all of the following:64625.
(a) Any party may protest the imposition of a commercial linkage fee imposed on a commercial development project by the entity pursuant to this article as follows:64626.
(a) In any judicial action or proceeding to validate, attack, review, set aside, void, or annul any ordinance or resolution providing for the establishment, increase, or imposition of a commercial linkage fee pursuant to this article in which there is an issue whether the fee is a special tax within the meaning of Section 50076, the entity shall have the burden of producing evidence to establish that the commercial linkage fee does not exceed the reasonable cost of providing the housing necessitated by the commercial development project for which the commercial linkage fee is imposed, as determined in the regional nexus study pursuant to subdivision (b) of Section 64621.64627.
(a) Any person may request an audit in order to determine whether any fee or charge levied by the entity exceeds the amount necessary to cover the reasonable cost of providing the housing necessitated by the commercial development project for which the commercial linkage fee is imposed, as determined in the regional nexus study pursuant to subdivision (b) of Section 64621. If a person makes that request, the board may retain an independent auditor to conduct an audit to determine whether the commercial linkage fee is reasonable, but is not required to conduct the audit if an audit has been performed for the same fee within the previous 12 months.64628.
Any action by the entity or interested person under this article shall be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.Article 3. Bonds
64630.
The board may, by majority vote, initiate proceedings to issue bonds, other than revenue bonds subject to Section 64638, pursuant to this chapter by adopting a resolution stating its intent to issue the bonds.64631.
The resolution adopted pursuant to Section 64630 shall contain all of the following information:64632.
(a) Except as otherwise provided in subdivision (b), the clerk of the board shall publish the resolution adopted pursuant to Section 64630 once a day for at least seven successive days in a newspaper published in each county in the San Francisco Bay area at least six days a week, or at least once a week for two successive weeks in a newspaper published in a county less than six days a week.64633.
(a) The board shall submit the proposal to issue bonds, other than revenue bonds subject to Section 64638, to the voters who reside within the San Francisco Bay area in accordance with Section 64521 and this section.64634.
(a) Except for revenue bonds issued pursuant to Section 64638, bonds may be issued if two-thirds of the voters voting on the proposition vote in favor of issuing the bonds.64635.
The board may, by majority vote, provide for refunding of bonds issued pursuant to Section 64634. However, refunding bonds shall not be issued if the total net interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the total net interest cost to maturity on the bonds to be refunded. The board shall not extend the time to maturity of the bonds.64636.
(a) The board or any person executing the bonds issued pursuant to Section 64634 shall not be personally liable on the bonds by reason of their issuance. The bonds and other obligations of the entity issued pursuant to Section 64634 are not a debt of any city or county, or of the state or of any of its political subdivisions, other than the entity, and neither a city or county nor the state or any of its political subdivisions, other than the entity, shall be liable on the bonds, and the bonds or obligations shall be payable exclusively from funds or properties of the entity. Bonds issued pursuant to Section 64634 shall contain a statement to this effect on their face.64637.
(a) The bonds issued pursuant to Section 64634 may be sold at discount not to exceed 5 percent of par at public sale. At least five days before the sale, notice shall be published, pursuant to Section 6061, in a newspaper of general circulation and in a financial newspaper published in the City and County of San Francisco and in the City of Los Angeles. The bonds may be sold at not less than par to the federal government at private sale without any public advertisement.64638.
(a) Notwithstanding any other provision of this article, the entity may issue bonds, payable from the revenues of any facility or enterprise acquired or constructed by the entity, in the manner provided in the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300) of Part 1 of Division 2 of Title 5), as modified by subdivision (b). For purposes of this section, the entity shall be deemed to be a local agency within the meaning of Section 54307.64639.
(a) An action to determine the validity of bonds issued pursuant to Section 64634 may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.CHAPTER 3. Expenditures
64610.64650.
(a) Revenue generated pursuant to(1)
(2)
(A)Providing access to counsel for tenants facing eviction.
(B)
(C)
(D)
(3)
(4)
(b)
(c)The
(d)
(2)(A)
(B)The entity shall distribute funds to a
county based on an expenditure plan submitted by the county and approved by the entity. A county’s proposed expenditure plan may contain funding amounts different than those listed in subdivision (a). In approving a county’s expenditure plan and allocating funds, the entity may adjust the funding amounts to ensure compliance with subdivision (a).
(C)
(e)