53394.30.
(a) An affordable housing financing plan may contain a provision that taxes, if any, levied upon taxable property in the area included within the district each year by or for the benefit of the State of California, or any affected taxing entity after the effective date of the resolution adopted pursuant to subdivision (d) of Section 53394.16 to create the district, shall be divided as follows:(1) That portion of the taxes that would be produced by the rate upon which the tax is levied each year by or for each of the affected taxing entities upon the total sum of the assessed value of the taxable
property in the district as shown upon the assessment roll used in connection with the taxation of the property by the affected taxing entity, last equalized before the effective date of the resolution adopted pursuant to subdivision (d) of Section 53394.16 to create the district, shall be allocated to, and when collected shall be paid to, the respective affected taxing entities as taxes by or for the affected taxing entities on all other property are paid.
(2) That portion of the levied taxes each year in excess of the amount specified in paragraph (1) shall be allocated to, and when collected shall be paid into a special fund of, the district for all lawful purposes of the district. Unless and until the total assessed valuation of the taxable property in a district exceeds the total assessed
value of the taxable property in the district as shown by the last equalized assessment roll referred to in paragraph (1), all of the taxes levied and collected upon the taxable property in the district shall be paid to the respective affected taxing entities. When the district ceases to exist pursuant to the adopted affordable housing financing plan, all moneys thereafter received from taxes upon the taxable property in the district shall be paid to the respective affected taxing entities as taxes on all other property are paid.
(b) Notwithstanding subdivision (a), where any district boundaries overlap with the boundaries of any former redevelopment project area, any debt or obligation of a district shall be subordinate to any and all enforceable obligations of the former
redevelopment agency, as approved by the Oversight Board and the Department of Finance. For the purposes of this chapter, the division of taxes allocated to the district pursuant to subdivision (a) shall not include any taxes required to be deposited by the
county auditor-controller into the Redevelopment Property Tax Trust Fund created pursuant to subdivision (b) of Section 34170.5 of the Health and Safety Code.
(c) The legislative body of the city or county forming the district may choose to dedicate any portion of its net available revenue to the district through the financing plan described in Section 53394.15.
(d) For the purposes of this section, “net available revenue” means periodic distributions to the city or county from the Redevelopment Property Tax Trust Fund, created pursuant to Section 34170.5 of the Health and Safety Code, that are available to the city or county after all
preexisting legal commitments and statutory obligations funded from that revenue are made pursuant to Part 1.85 (commencing with Section 34170) of Division 24 of the Health and Safety Code. For purposes of this section, “net available revenue” shall not include any funds deposited by the county auditor-controller into the Redevelopment Property Tax Trust Fund or funds remaining in the Redevelopment Property Tax Trust Fund prior to distribution. Net available revenues shall not include any moneys payable to a school district that maintains kindergarten and grades 1 to 12, inclusive, community college districts, county office of education, or to the Educational Revenue Augmentation Fund, pursuant to paragraph (4) of subdivision (a) of Section 34183 of the Health and Safety Code.
(e) (1) That portion of any ad valorem property tax revenue annually allocated to a city or county pursuant to Section 97.70 of the Revenue and Taxation Code that is specified in the adopted
affordable housing financing plan for the city or county that corresponds to the increase in the assessed valuation of taxable property shall be allocated to, and, when collected, shall be apportioned to, a special fund of the district for all lawful purposes of the district.
(2) When the district ceases to exist pursuant to the adopted affordable housing financing plan, the revenues described in this subdivision shall be allocated to, and, when collected, shall be apportioned to, the respective city or county.
(f) A district may utilize revenues from any of the following sources to support its activities provided that the applicable voter approval
has been obtained, and the affordable housing financing plan has been approved pursuant to subdivision (d) of Section 53394.16:
(1) The Improvement Act of 1911 (Division 7 (commencing with Section 5000) of the Streets and Highways Code).
(2) The Municipal Improvement Act of 1913 (Division 12 (commencing with Section 10000) of the Streets and Highways Code).
(3) The Improvement Bond Act of 1915 (Division 10 (commencing with Section 8500) of the Streets and Highways Code).
(4) The Landscaping and Lighting Act of 1972 (Part 2 (commencing with Section 22500) of Division 15 of the Streets and Highways Code).
(5) The Vehicle Parking District Law of 1943 (Part 1 (commencing with Section 31500) of Division 18 of the Streets and Highways Code).
(6) The Parking District Law of 1951 (Part 4 (commencing with Section 35100) of Division 18 of the Streets and Highways Code).
(7) The Park and Playground Act of 1909 (Chapter 7 (commencing with Section 38000) of
Part 2 of Division 3 of Title 4 of this code).
(8) The Mello-Roos Community Facilities Act of 1982 (Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of this title).
(9) The Benefit Assessment Act of 1982 (Chapter 6.4 (commencing with Section 54703) of Part 1 of Division 2 of this title).
(10) The so-called facilities benefit assessment levied by the charter city of San Diego or any substantially similar assessment levied for the same purpose by any other charter city pursuant to any ordinance or charter
provision.
53394.31.
(a) The portion of taxes required to be allocated pursuant to paragraph (2) of subdivision (a) of Section 53394.30 shall be allocated and paid into a special fund held in trust for the district by the county auditor or officer responsible for the payment of taxes into the funds of the affected taxing entities pursuant to the procedure contained in this section.(b) Not later than October 1 of each year, for each affordable housing or housing-related infrastructure project for which the affordable housing financing plan provides for the division of taxes pursuant to Section 53394.30, the district shall file, with the county auditor or officer described in subdivision
(a), a use of tax increment statement consistent with subdivision (c) and a reconciliation statement consistent with subdivision (d). All statements required to be filed by this subdivision shall be certified by the chief financial officer of the district.
(c) (1) For each affordable housing or housing-related infrastructure project for which a use of tax increment statement is required to be filed, the use of tax increment statement shall contain all of the following:
(A) For each loan, advance, or indebtedness incurred or entered into, all of the following information:
(i) The
date the loan, advance, or indebtedness was incurred or entered into.
(ii) The principal amount, term, purpose, interest rate, and total interest of each loan, advance, or indebtedness.
(iii) The principal amount and interest due in the fiscal year in which the use of tax increment statement is filed for each loan, advance, or indebtedness.
(iv) The total amount of principal and interest remaining to be paid for each loan, advance, or indebtedness.
(B) The sum of the amounts determined under clause (iii) of subparagraph (A).
(C) The sum of the amounts determined under clause (iv) of subparagraph (A).
(D) The available revenues as of the end of the previous year, as determined pursuant to paragraph (10) of subdivision (d).
(2) The district may estimate the amount of principal or interest, the interest rate, or term of any loan, advance, or indebtedness if the nature of the loan, advance, or indebtedness is such that the amount of principal or interest, the interest rate or term cannot be
precisely determined. The district may list on a
use of tax increment statement any loan, advance, or indebtedness incurred or entered into on or before the date the statement is filed.
(d) For each affordable housing or housing-related infrastructure project for which a reconciliation statement is required to be filed, the reconciliation statement shall contain all of the following:
(1) A list of all loans, advances, and indebtedness listed on the previous year’s use of tax increment statement.
(2) A list of all loans, advances, and indebtedness, not listed on the previous year’s
use of tax increment statement, but incurred or entered into in the previous year and paid in whole or in part from revenue received by the district pursuant to Section 53394.30. This listing may aggregate loans, advances, and indebtedness incurred or entered into in the previous year for a particular purpose, including relocation expenses, administrative expenses, consultant expenses, or property management expenses, into a single item in the listing.
(3) For each loan, advance, or indebtedness described in paragraph (1) or (2), all of the following information:
(A) The total amount of principal and interest remaining to be paid as of the later of the beginning of
the previous year or the date the loan, advance, or indebtedness was incurred or entered into.
(B) Any increases or additions to the loan, advance, or indebtedness occurring during the previous year.
(C) The amount paid on the loan, advance, or indebtedness in the previous year from revenue received by the district pursuant to Section 53394.30.
(D) The amount paid on the loan, advance, or indebtedness in the previous year from revenue other than revenue received by the district pursuant to Section 53394.30.
(E) The total amount of principal and interest remaining to be paid as of the end of the previous fiscal year.
(4) The available revenues of the district as of the beginning of the previous fiscal year.
(5) The amount of revenue received by the district in the previous fiscal year pursuant to Section 53394.30.
(6) The amount of available revenue received by the district in the previous fiscal year from any source other than pursuant to Section 53394.30.
(7) The sum of the amounts
specified in subparagraph (D) of paragraph (3), to the extent that the amounts are not included as available revenues pursuant to paragraph (6).
(8) The sum of the amounts specified in paragraphs (4), (5), (6), and (7).
(9) The sum of the amounts specified in subparagraphs (C) and (D) of paragraph (3).
(10) The amount determined by subtracting the amount determined under paragraph (9) from the amount determined under paragraph (8). The amount determined pursuant to this paragraph shall be the available revenues as of the end of the previous fiscal year.