BILL ANALYSIS                                                                                                                                                                                                    Ó

                                                                  AB 92
                                                                  Page  1

          (  Without Reference to File  )

          AB 92 (Budget Committee)
          As Amended  June 12, 2013
          Majority vote.  Budget Bill Appropriation Takes Effect  
          |ASSEMBLY:  |     |(May 13, 2013)  |SENATE: |37-1 |(June 14,      |
          |           |     |                |        |     |2013)          |
                    (vote not relevant)                
           Original Committee Reference:    BUDGET  

           SUMMARY  :  Contains necessary statutory and technical changes to  
          implement the Budget Act of 2013 relating to general government.  

           The Senate amendments  delete the Assembly version of this bill,  
          and instead: 

          1)Extend the liquidation period from June 30, 2015, to June 30,  
            2017, for funds previously appropriated from the Regional,  
            Planning, Housing and Infill (ILG) Incentive Account and the  
            Transit Oriented Development (TOD) Implementation Fund under  
            Proposition 1C.

          2)Require the Department of Housing and Community Development to  
            amend the guidelines with revised performance-based milestones  
            and to evaluate the revised performance-guidelines on a  
            project by project basis.  

          3)Prepare for the end of the triple flip by outlining a process  
            to provide compensation to cities and counties once the  
            mechanism is no longer needed to pay for the Economic Recovery  
            Bonds, including redefining the fiscal adjustment period,  
            requiring the Director of Finance to estimate when the  
            notification to the State Board of Equalization is likely to  
            occur, and requiring the Director of Finance to revise the  
            countywide adjustment once notification occurs.

          4)Require any taxpayer who participates in an out-of-state  
            Like-Kind Exchange to file an informational return form with  


                                                                  AB 92
                                                                  Page  2

            the Franchise Tax Board when the property acquired in the  
            exchange is located outside of California. 

          5)Allocate any moneys allocated and appropriated that become  
            disencumbered and redeposited in the Transit-Oriented  
            Development Account during fiscal year 2013-14.  This is  
            technical modification to be consistent with AB 1585 (John A.  
            Pérez), Chapter 777, Statutes of 2012.  

          6)Contain an appropriation allowing this bill to take effect  
            immediately upon enactment. 

           COMMENTS  :  This bill enacts various provisions to support the  
          2013 Budget Act, and among other things, extends the liquidation  
          period for previously appropriated ILG and TOD Proposition 1C  
          funds, and provides a process for the end of the triple flip.  

           Analysis Prepared by  :    Genevieve Morelos / BUDGET / (916)  
                                                               FN: 0001184