BILL ANALYSIS                                                                                                                                                                                                    



                                                                  AB 182
                                                                  Page  1

          CONCURRENCE IN SENATE AMENDMENTS
          AB 182 (Budget Committee)
          As Amended  September 4, 2009
          2/3 vote.  Urgency
           
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          |ASSEMBLY:  |     |(May 4, 2009)   |SENATE: |27-9 |(October 14,   |
          |           |     |                |        |     |2009)          |
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                    (vote not relevant)
           
           Original Committee Reference:    RLS.  

           SUMMARY  :  Modifies the provisions enacted by AB 26 X4 (Chapter  
          21, Statutes of 2009) which shifted $1.7 billion in  
          redevelopment revenues to the Supplemental Educational Revenue  
          Augmentation Fund in 2009-10, thereby benefiting the State  
          General Fund.  The modifications provide additional flexibility  
          to Redevelopment Agencies (RDAs) in making the required  
          transfer, and specifies the use of more recent RDA data in the  
          calculation of the revenue shift.

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

          1)Allow RDAs to borrow from the existing balance of their Low  
            and Moderate Income Housing Fund for the purpose of making the  
            2009-10 transfer required pursuant to AB 26 X4.  This  
            borrowing would have to be fully repaid within five years.   
            Existing law already authorizes RDAs to borrow from the  
            current year contribution to the Low- and Moderate-Income  
            Housing Fund, but not their existing balance.

          2)Allow the Department of Finance to use the 2007-08 edition of  
            the State Controller's Community Redevelopment Agencies Annual  
            Report, should that report be available in time for the  
            Director of Finance's calculation of each RDAs obligation.  If  
            the 2007-08 report is not available, the Director of Finance  
            will use the 2006-07 report, but must adjust the data to  
            exclude amounts apportioned to any RDA from any territory that  
            was deleted from their project area prior to August 1, 2009.

          3)Add an urgency clause, allowing this bill take effect  
            immediately upon enactment.









                                                                  AB 182
                                                                  Page  2

           AS PASSED BY THE ASSEMBLY  , this bill expressed the intent of the  
          Legislature to enact statutory changes relating to the Budget  
          Act of 2009.  


           Analysis Prepared by  :    Adam Dondro / BUDGET / (916) 319-2099 


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