BILL NUMBER:  AB 1450
  VETOED	DATE: 09/29/2014




To the Members of the California State Assembly:

I am returning Assembly Bill 1450 without my signature.

This bill would prohibit Successor Agencies, under certain
circumstances, from receiving property tax incremental revenue
generated on voter-approved pension override levies to pay
Enforceable Obligations.

The process laid out in this measure would put the state back on the
hook, to the tune of $20 million dollars, for erstwhile local
decisions to allow property tax growth from voter approved tax levies
for pension obligations to be used by the redevelopment agency for
redevelopment activities. I encourage the author and stakeholders to
come up with a solution to this issue without impacting general fund
dollars.

Sincerely,



Edmund G. Brown Jr.