LEGISLATIVE COUNSEL'S DIGEST


AB 1176, as amended, Ammiano. Infrastructure financing districts:
City and County of San Francisco.
Existing law specifically authorizes the City and County of San
Francisco to create infrastructure financing districts, adopt
infrastructure financing plans for those districts, and issue bonds
financed by projected increases in ad valorem property taxes to fund
certain public facilities, pursuant to a specified procedure.
Existing property tax law establishes various procedures and
requirements with respect to the annual apportionment and allocation
of ad valorem property tax revenues, including increased revenues
from infrastructure financing districts.
This bill would recast these provisions authorizing the City and
County of San Francisco to create infrastructure financing districts
that include specified waterfront property. This bill would also
modify the procedures for San Francisco to adopt an infrastructure
financing plan, and allocate projected increases in ad valorem
property taxes to specified annual apportionments.