Bill > AB930

This bill would authorize the legislative bodies of 2 or more local governments to jointly form a Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) district to plan, finance, and facilitate supportive infrastructure, affordable housing, and equitable development near existing or planned transit. The bill would require the Office of Planning and Research to develop guidelines for the formation of RISE districts, including requirements that at least 50% of the total funding received by the district be spent on infill supportive infrastructure and at least 30% be spent on residential units restricted to low or moderate income persons and families. The bill would also, upon appropriation by the Legislature, require the Infrastructure and Economic Development Bank to establish the RISE Revolving Loan Fund to provide RISE districts with initial startup funding. Finally, the bill would establish labor standards for projects financed by RISE districts, including prevailing wage and skilled and trained workforce requirements.

Budget and Finance, Government Affairs, Housing and Urban Affairs, Labor and Employment

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202320240AB930